The Crow's Run project is located in Beaver County, Pennsylvania. This project consists of 61 well locations on 13 leases.
Although none of these well locations are currently producing, the estimated cost to rework the entire field, including cleaning the pumps, removing the paraffin, cleaning or replacing rods and various other maintenance, is approximately $5,500 per well or $335,000.
The figures that follow represent a good-faith estimate based on comparison with nearby wells of similar age and wells that were reworked in 2005, after such maintenance.
Oil - 61 wells x 1.5 BBL per day (average) x 25 days = 2,287.5 BBL per month
Gas - 61 wells x 5.2 MMBTU per day (average) x 25 days = 7930 MMBTU per month
Aeon Holdings is presently in the process of clearing all legal and regulatory impediments while determining the best and most efficient way to proceed with the project.
To fully understand the risks and variables of oil and gas investment and development please review our full disclaimer.
