YEP Petroleum Group, Inc. Plans to Drill 25 New Oil and Gas Wells in 2022 Developing an Estimated $400 Million in Reserves
Jan 20, 2022
TULSA, Okla. - January 20, 2022 - (Newswire.com)
Nicholas Philip, Manager of YEP Petroleum Group, Inc., announced the commitment to develop 25 new wells in the area in and surrounding Creek County Oklahoma. The YEPP prospect inventory is robust. A recent agreement with "AOC" American Oil Capital, LLC and "NDC" N Drilling Company, Inc has been reached to begin with 25 wells, and an area of mutual interest that may lead to more than 100 wells being developed through 2023. Reserves are expected to exceed 5 million barrels of oil or equivalent in the conventional and unconventional reservoirs combined. The primary targets will be the Wilcox, Misener, Bartlesville and Dutcher Sands, with several other secondary sands. The Woodford Shale and Mississippian Lime will be tested for reserve analysis and eventual unconventional development.
YEP is projecting 4.6% monthly ROI or an estimated 56% annually Cash on Cash. (Using $80 per barrel of oil)
The YEPP strategy is to develop the proven understood reservoirs with the application of some newer day techniques and understandings, which has resulted in maximum risk management. New day completion and production techniques make it possible to extract more oil today than originally produced when the fields were discovered. The idea of building a strong daily production at a low cost of development, while booking decades' worth of reserves is a very good position to be. Good conventional production collective with huge unconventional reserve value often results in a major acquisition, which could result in windfall multiples on the investment.
Accredited Sophisticated Investors searching for long-term income potential and tax shelter can learn more by visiting us at: www.yeppetroleumgroup.com. Contact us by email at [email protected] or call 1-800-765-9652
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Original Source: YEP Petroleum Group, Inc. Plans to Drill 25 New Oil and Gas Wells in 2022 Developing an Estimated $400 Million in Reserves
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