TENN/KY PROSPECT 2.0
PICKETT COUNTY, TENNESSEE
The TENN/KY Prospect 2.0 is located in Pickett County, Tennessee. The prospect acquisition and development of Planet Energy, LLC.
Planet Energy owns interest in five oil and gas wells, associated infrastructure, an inventory of various oilfield equipment, and 3,591 total acres of leasehold held by production. Buckeye Exploration owns interest in three additional wells on our nearby 402-acre Davis lease. TENN/KY 2.0 will combine Buckeye's leases and a working interest in its producing Davis wells with Planet Energy, LLC.
TENN/KY 2.0 represents an opportunity to drill oil wells in a de-risked manner. Three of Planet Energy's wells, and two of Buckeye's wells are already online and producing. Much of the inventory and infrastructure will be useful in offsetting costs for a proposed three-well drilling program.
We are offering a 75% interest in Planet Energy, LLC (which includes a working interest in the Buckeye wells) for $360,000 in order that we may drill the new wells and make necessary repairs. Buckeye Exploration always seeks to retain working interest in our wells. We simply don’t do projects unless we’re willing to put our own skin in the game. In this case, Buckeye and our partners will retain 25% and stay on as Managing Partners of Planet Energy, LLC.
Our familiarity with the geology in Pickett County, coupled with low drilling costs and increasing demand for oil, make this an attractive time to execute this project.
CONTACT US for more detailed information.