Investment opportunity to buy flowing oil production in the USA and enhance it with a workover program.
The proposed financing structure is debt.
PDP Reserves Acquisition & Oilfield Service Company Buildout.
Location: Montana/North Dakota.
This offer will be the holding company for two wholly-owned subsidiaries.
One of them is an existing oil and gas production operating company with a production base located in western North Dakota. It will be acquired and utilized as a platform to target and secure additional oil and gas reserves throughout Montana and North Dakota and other Rocky Mountain Regions. Its assets comprise oil wells in three mature Madison formation waterflood properties and located in North Dakota that produce approximately 320 BOPD. In total there are 75 wells in these properties, of which 52 are currently producing and 23 currently shut-in. As of April 2020, these wells were producing 323 BOPD and 7,167 BWPD. This represents an oil cut of 4.3% of total fluid, which is economic to produce down. The acquisition of this subsidiary will provide a significant base of existing producing wells as well as wells whose production can be improved, or shut-in wells that can be restored to production.
Another one will be focused on providing well workover services via company-owned drilling and well servicing equipment. Core Service Areas: Montana-North Dakota / Saskatchewan, Canada. This subsidiary will provide services initially to the first solely. Third party operators will be solicited in the future. Rig operational enhancements and increased liability insurance resources will be required to work for third parties, but is a very lucrative undertaking. The local market is poorly served by manpower-challenged service companies, so its equipment is expected to be operating constantly. Strategic Objective is Disciplined Organic Growth via Core Well Servicing Business & Workover Rig Services Enhanced by select high-revenue generating auxiliary services and Decisive / Focused “On-the-Ground” Management Presence.
For details: Julia.email@example.com / Telegram @juliazhil
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