Executive Summary - Quest Oil Services
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 ATTENTION:   Information contained in this “Oklahoma Oil & Gas Prospect Sale” notice is intended for the appropriate person(s) in the Land, Geological or Acquisitions Departments of your Company. Please forward as needed. Thank You.

Jerry Stettnisch, owner of Quest Oil Services is offering this low-risk, ROI enhanced property for sale to an Operator prepared to move quickly in Q1, 2017 to Re-enter and produce this obviously bypassed Oil & Gas Zone.

Summary: We are selling this oil & lease consisting of ~150 acres, with 100%WI and 81.25%NRI – no overrides exist. The lease is located as SW/4 Sec 18 25N 06W, Grant County, OK – it is located approximately 15 miles north of Enid just off highway 81 with good access in open wheat ground.

We are selling the complete prospect for $48,000 for 100% of the WI and 81.25% Net Revenue Interest and includes all logs and well files. The Primary term of this lease expires April 22nd, 2017 allowing a 2 month window to begin operations. With the short time-frame, I have drastically reduced the sale price of this property from 80,000 to $48,000.  I have constructed a rough AFE for a complete re-entry @ 424,200 which includes the re-entry, completion, tank battery and production into the tanks. I have a clean Drillsite Opinion in hand.

Well History: This ~150 acre Lease contains The Wethington 1-18 well which was P&A’d in 1995 and is an excellent re-entry prospect. This Wethington well (API No. 053-22280) was originally drilled by Mack Energy in 1995, 360’ of 8 5/8” surface pipe was set. The well was drilled to test the Misener at ~6200’. Less than a foot of Misener was encountered. A drill stem test over the Misener and top of the Sylvan had no recoveries and poor pressures. Production casing was never set and the well was mudded-up, plugged and abandoned.

A surface plug was pumped from 4’to 35’ …. a 200’ cement plug was pumped from 260’ to 460’ at the bottom of surface pipe and a 100’ cement plug was pumped 1000’to1100’. The Zone of interest is located @5552’. There is 580’ of clean open-hole/rat-hole from the zone of interest to the top of the bottom plug pumped. Mack Energy, the driller of this Wethington #1-18 well was heavily focused on the deeper Misener Sand in the immediate area. During the mid-1990’s their primary focus in this area was to find the deeper Misener Sand, which was very prolific when found. When the Misener wasn’t found, the well was plugged and abandoned and the rig quickly moved to the next location to begin another Misener test.

Basis for re-entry: While drilling this well, significant oil & gas shows were observed in the upper section (Meramec-Osage) of the Mississippi Lime. The productive shows are clearly noted in the mud log which can be viewed on our website. I also have a correlated layout of the Induction/Comp Neu/Dens log suite which can also be viewed on the website. The logs indicate 15’of porosity in the lime with good gas shows containing c1-c4’s, green fluorescence with good streaming oil cuts in the samples. The strength of this Prospect lies in the known oil & gas shows and information already gathered from the mud log and the full suite of electric logs as well as acquiring a nice acreage position in this area.

Closing: This prospect is directed towards the Oil & Gas Operator capable of moving quickly to take advantage of the cost savings currently available for drilling and completing wells while capturing production with energy prices on the rise.

Jerry Stettnisch has accumulated over 40 years of experience in upstream Oil and Gas Consulting services, coordinating and overseeing the drilling, completion, re-entries, workovers, recompletions, design and installation of production equipment both uphole and downhole. Seventeen of those years, Jerry was owner and operator of a successful oil and gas exploration and production company in northern Oklahoma.

With plenty of “hands-on” knowledge and practical experience in the field including many successful re-entries, I can provide well-site and field supervision for the successful re-entry and completion of this prospect, if needed.

 

Should you have further interest in discussing this prospect, let’s talk about the various ways of structuring to benefit all.

 

To view the Mud-Log, E-Logs and additional information pertaining to Quest Oil Services and the Wethington #1-18 Re-entry Prospect;

Visit our website …..

https://www.questoilservices.com/
 

Regards,

Jerry Stettnisch

Quest Oil Services, LLC

 

View the various supporting documents by selecting them below:

  • project
  • economics
  • mud
  • 5log-button

P.O. Box 721646 • Oklahoma City, OK 73172
Phone: (405) 578-5500 • website: https://www.questoilservices.com/• email: info@questoilservices.com