Looking for a reputable SWD operator. We’ve got a situation where these two wells were drilled on our place some years back in 2015— both are on separate sections of 640 acres. They were very expensive to drill, roughly $8 million each, and then out of nowhere the operator San Gabriel Resources just up and left and filed for bankruptcy in 2017. They got out right before finishing-- never seen anything like it and it was all very strange. These wells never actually produced any oil or gas and it would take a few million to have them properly completed. So as a result we had the RRC convert them to accept commercial wastewater injection rates and got approval for 22k barrels a day and 20k barrels a day respectively and this way we can get the royalties. We will work with a reputable SWD outfit to turn over the two wellbores and give very reasonable disposal rates but said operator will need to invest money on proper facilities, etc. Would be agreeable to allow SWD operator first money back option to pay their investment off then afterwards start to pay us royalties. The wellbores are roughly 9 miles north of Toyah-- Armstrong State 42 1-H (API 389-34141) and the McGowen State 27 1-H (API 389-34145). Any help would be appreciated.
Are you familiar with the company “sourcewater” ?
I am not. We’ve reached out to Laine Midstream who initially showed interest as did Waterbridge-- no luck as of yet. But I do appreciate your recommending of Sourcewater who look to be under Sourceenergy. Thank you.
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