Going to Buy Some Oil Wells in Oklahoma!
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- čas přidán 25. 08. 2024
- This is our first oil asset purchase. We drove up to Oklahoma to walk the lease and check them out.
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Collin spent 10 years working in the oilfield, both onshore and offshore before quitting his job in 2018 to pursue his own endeavors.
Jake, a marine veteran, has learned the O&G industry through his knowledge of software applications and has founded 2 startups in the space.
Jake and Collin host the fastest growing O&G podcast "Oil and Gas Startups". Every week it features the stories of founders, investors and leaders in the industry.
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Those are little guys, cannot wait to get started exploring opportunities like this though. I'd rather have some old plunger wells but hell good job guys. I love seeing guys grab up "junk" but in our eyes the verticles are a great living!!
Nice job man, i have considered doing something the same, after i build up some more assets
What assets have you accumulated
@@heatwave3051 bonds, rrsp, gold mutual funds. Pension
@@whoispriest I’m trying to find out exactly how I can do the same . I don’t know where to start or even how .
@@heatwave3051 get the cards I mentioned, then message me. I will get you hired
@@heatwave3051 try real estate
How was the experience buying and owning these oil properties?
Nice video! thanks for sharing this experience!
How Much Are These Wells
4-8 mil
About one million lol
@@weezyalexYo more
@@Gaylord69420 not necessarily, I have bought wells that were shut off that hadn't produced well in years (1970s) for dirt cheap. Of five so far, two had head pressure, one went back into production after we replaced the gearbox, one flopped and the other has a gas lift casing that were working on getting a new annular manifold for it. But, let me explain how we do it. We research texas and oklahoma closed leases. The idea we started with is to identify leases closed, not renewed, not pending, and then going out to the site to identify the infrastructure. Once we have done that, we contact the transport company and see what their records show. With this information its time to contact the family of the original lease owner. By this method if they agree we generally can renew the lease with little trouble and the family gets a share. I have not paid more than 250k to acquire a lease. It is considerably more research and you need to be good at human interaction, be friendly, be prepared to get a piece shaved off your back for all that work and then you STILL have to get the well back into production, which almost always means dealing with the damage suffered to the tank farm and manifold from sitting.
@@blackopsrocks dude you just answered me in your reply "havent produced well in years 1970"
If anyone is interested in Kentucky and Tennessee I have 30 years experience and excellent insights.
I am
@@Khabib9-z8w Ok
How'd everything work out?
RIP Bro you got rekt.
It's alright, man. Made money on other ventures so we're straight.
@Opt 8
All the cost of drilling a well can be used to deduct from the income produced meaning that you could drill a well and not pay any taxes for the next two years.
I've been approached by an oil drilling operator to invest in their oil well drilling? what questions should I ask them to minimize the risk? how to make sure their wells would be producing and wont end up dry?
@jesse mclaughlin We spend all that money to move in equipment hoping to hit a well. Based on what I am reading, an oil company lost hundreds of thousands of dollars overnight on a dry hole and you are pissed about being the only one who made money on the deal.
@jesse mclaughlin You said you got a $30 check... Considering that company lost their asses on a dry hole I would call it even.
Why didn’t they fix hole in tubing, or fill reserve pit in. Also no lease signs. Actually you need to make sure production records are verified by oil purchaser. And make sure they do an mit on disposal well before you purchase.
They turned it off cus it's done producing.
Did you do any sequels to this video? Looking through your channel videos Lots of content, but haven't found any sequels yet. Please advise! Thank you!
Oil at 3100 feet proves that during Noah's Flood 3100 feet of sediments settled on all the vegetation, humans and dinosaurs that were washed off the land during The Flood.
Hey so did your oil well ever work out
Brandon Transfer and Storage Agent For Allied Yes, sold them recently though. Will do a video update soon.
I know this was a bit ago, but it looked like they needed to fill in reserve pit, and didn’t see a well I would buy.
how could you tell they weren't worth it you? Why wouldn't you buy one of those wells? Thanks!
How much does it cost to own a well
hell yeah brother u are rock n it
I want to build oilfield too
How did u get into oil? Where did u get ur starting capital?
How do you find a trustworthy oil well?
they can be tough to find but there are good ones
What’s the average yield on the stuff shown in this video ?
Question; why you guys are not wearing PPE, H2S protection and Gas monitors in proximity of hydrocarbon storage and well head?
Anything speacial which I don't know?
Oklahoma doesn’t produce much h2s. Believe that’s a more west tx thing
I like to invest if it checks out good
How many wells do you own and how many barrels do you think you can produces everyday with those wells?
Aesthetics Central these are just shallow stripper wells. 4 wells, 1 of them is a saltwater disposal well. They do about 4 barrels per day.
@Daughter of Zion There are a lot of factors that go into the valuation of the well but to simplify it - it mostly depends on how much oiloil/gas is producing per day. It could range from $100k to $15mm+ for onshore wells. Offshore wells cost over $100mm+ to drill & complete.
Sean Pruitt Thanks, Sean. There’s a lot of overhead involved which cuts into the margins, but we had projected a 2.5 year payout at $55/oil. Not shabby, just requires a lot of dirt work.
@@DigitalWildcatters dear sirs
We are interested to buy oil wells
Please offer what you have
The big money is getting mineral right on land
It doesnt seem like it was that long ago. Seems like it was just a few months ago wow.
Oklahoma mafia 🤝
Did you ever get those wells up and going? What zone/depth are they?
Yea we did. One of them is shut-in right now. We went in and changed out a bad insert pump and got it running again, but it was producing a lot of water so I'm going to wait a bit before pumping it down.
These wells are TD 3,000 ft -4,000 ft MD. Producing out of the Wilcox.
What about your wells?
Digital Wildcatters Don’t wait to pump off the Wilcox. I’ve seen it make 100bbl water a day for 6 weeks before getting to oil. The longer you wait the longer it takes to pump down and in the meantime you’re not making oil to pay for your pulling job. Good news is once you get to oil the Wilcox will generally make up what the water had pushed out. How’d it end up going?
Wilcox is a tough one to keep up with and s lot of water. I operate a large waterflood field just southwest of Tulsa. How did it go?
Damn Willies can be fickle beasts! but world class reservoirs if you can hit ‘em down here in SW Miss.
Who does your field and asset evaluations? Needing Reservoir Engineering work?
28goldenboy Would love to talk sometime!
May I know which website can purchase oil well and what is the cost to own an oil well?
there are multiple websites but best place to find solid deals is to call operators directly who are selling
how much for the unused oil field pipes ?
The bad ones usually are given away. Good for fences from what ranchers say
How do you know how much oil is left in the oil pool plus what do you do if no more oil left in the oil pool ?
typically historical production is a good indicator plus wells in the area
Oil won’t come out anymore if it is empty
Get a Petrophysicist for a petrophysical analysis.
You punt and play defense!
Any opportunity to buy mark 2 your looking at some good production
I'm making a model oilfield
how did it turn out?
Many many years ago my grandfather sold off his mineral rights to a oil well he was getting paid from. I need some advise because want to invest money into a oil well or by stock in a oil company. I don't have much money but I would like to get foot in the door so to speak. Any advise would helpful. 😊
I googled your company. I wish I had 3k to invest. Maybe in the future.
TEX OIL COMPANY
I am a disabled veteran can you inbox I have some questions for you
HOTRODDER50 do you know anyone that would want OIL, I'm working on a Project for CRUDE OIL that need to be dug out of ground. OWNER is SELLING his sites and he has 15 Wells Approved to be drilled on 320 Acres site. On the Geology and Reserve Report you can drill 26 more wells in the site. Right now 3 wells being reworked and will produce 10 BBS per day or around 300 BBS per month. 3 producing wells still have over 120,000 barrels of oil left according to Geology report and Reserve study. This site has 1,855,000 of reversible oil potential.
@@sonyajohnson3445 Hey Sonya, I have no idea. I wish I had the money to invest. Good luck to you. 😊
You must be smarter than your grandfather. I am sure that you are a geologist, assets and field evaluator, and a wealthy speculator. Your advice would have made him many productive wells.
Did u guys buy them wells or not ?
I'm a first-time investor how can I start I have work the production and drilling side I want to see how the other end is
It is a lot of fun but a lot of learning.
Buy an ice cream truck, you’ll make more money , As soon as I heard something about trucking water I knew they were sunk, People don’t sell oil wells if they are making good money with them
By god I want a 3100’ well
What does that number mean? The depth?
Do you still own the leases?
“Feeling comfortable. Living the life” lessons to be learned in 2020 about being boastful and cocky
boastful and cocky about someone sitting in the back seat of a truck? wtf is wrong with you, you salty fuck lol.
@@DigitalWildcatters how much was tha well
100,000 dollars for well. 25,000 for permits, another 25,000 for repairs
Hello I would like to get some advice from you if that is possible.
Hi,
I would like to inquire more about this issues?
I need to buy an oil wells, how can got in touch please?
I believe you can contact him through his social media
Hello, Are you still investing in oil wells?
We are interested to buy oil wells
Would like to get involved
Hi Collin... This is Babar from Canada. How is your experience with this opportunity so far ? Can you connect over zoom if that is convenient for you ?
Best regards
Do you think this well at the end of the video will make you money Fella ???
At 2:04 that pumping unit is a Lufkin
At 3:02 that unit is a Jensen
At 4:19 that unit is a lufkin
over half this vid looking at Your face- too much You
Do you sell oil
The American blacks in the 18-1900s used to own oil wells too in Oklahoma there are videos of it
What’s your social media? I have a few questions
It's in our description!
Looked pretty sketchy.
Can barely hear you
Probably the most useless video I've ever watched.
Hey guys do you know that Bitcoin trading is another way to make money this day's and is really working
Bitcoin is the future, Investing in it now will be the wisest thing to do especially with the current rise
@@mikevictor2428 Nailed this one lol 400% since this post?
@@OilMutt spoke too soon
how much does it cost to start producing oil in a filed like the one in the video with the same equipment ?
We bought these wells that were already drilled. So it took us $25,000usd to get an operator permit, $25,000 in capital to make some repairs on the wells and $100,000 for the wells.
Including storing tanks?
Mohsen Alsaife you can buy your own wells...do you know anyone that would want CRUDE OIL, I'm working on a Project for CRUDE OIL that need to be dug out of ground. OWNER is SELLING his sites and he has 15 Wells Approved to be drilled on 320 Acres site. On the Geology and Reserve Report you can drill 26 more wells in the site. Right now 3 wells being reworked and will produce 10 BBS per day or around 300 BBS per month. 3 producing wells still have over 120,000 barrels of oil left according to Geology report and Reserve study. This site has 1,855,000 of reversible oil potential.
you wanna buy crude oil then the best place for you is beloveneft,com