The AFEC Program Structure
Buckeye Exploration consults for and works closely with seasoned, reputable operators in the Chandler, Oklahoma area. The America First Energy Coalition, made up of these local operators, and overseen by Buckeye Exploration combines experience, knowledge, and resources to develop prospects.
Buckeye works with, consults for, and in most cases, owns an interest in over 180 leases and wells that are highly prospective for future development. The AFEC Program structure is designed to minimize risk by packaging several of these existing oil and gas wells together.
AFEC seeks two to three well-qualified working interest partners per package, with AFEC partners retaining at least 12.5% working interest.
Prospects will consist of a variety of wells with varying statuses. Some of the wells require nominal fixes and repairs, while re-works and recompletions will likely cost more. Combining one or two low-cost ventures with one or two more costly recompletions allows us to bundle wells such that the average cost per well is stabilized and stays well below the costs of drilling a new well.
The fact that so many low-risk and low-cost wells can be done at a time of rising commodity prices solidifies our chances for expeditious payouts, high returns on investment, and the rapid establishment of cash flow to immediately roll into more drilling and development projects.