Property details

Oil and Gas Investment Opportunity, Southwest Region

Property Description

Oil and Gas Investment Opportunity Oil and Gas Investment Opportunity

Experienced oil and gas company seeking $10 million in equity.

Intended use of funds: Asset purchase of existing oil and gas drilling and workover rigs, vehicles and equipment from USA companies and initial operating capital.

This company proposes to acquire drilling and workover rigs for the Oklahoma / Texas oil and gas industry. The business will execute Asset Purchase Agreements from current owners / banks are being negotiated. All drilling and workover services will be performed at the customer's site.

This company has managed to get 25 MSA's which are primarily with Occidental Petroleum, Exon and the major players in the area. Each MSA is worth $1 million dollars.

Payback shall come from a major refinance (estimated to be $65 million within 6 to 8 months).

Additional funds will be available from a trade program that is paying at a rate of 40% per month rate.

The company will can insure the $10 million investment which will be from a bonded insurance policy that will be obtained through Bloomberg (or at least that is the anticipated insurer as of today).



Oil & Gas



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Highlights

Status:
Available
Price:
$10,000,000
 

Property Information

Property Type:
Oil Gas
Industry Type:
Oil - Gas - Alternative Fuels
Units/Spaces:
1
Purchase Tenure:
Fee Simple
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.