Scissortail Energy Partners, a private exploration and production company headquartered in Tulsa, Oklahoma, has recently completed three wells in Oklahoma. Notably, two of these wells have shown particularly encouraging results.
This outcome is hardly surprising, given the seasoned leadership team at Scissortail, which boasts extensive experience in the Oklahoma region.
The two standout wells deserving our attention are JAKE 1-31-30-1-3MXH and JAKE 2-31-30-1-3MXH. Both wells are located in Carter County, OK.
The Convey640 platform obtains monthly production data directly from the Oklahoma Tax Commission. Analyzing this data reveals that the two wells are consistently delivering noteworthy daily averages of both oil and gas production.
Over the past four months, the Jake 1 has maintained an average of 1,485 barrels of oil equivalent per day (BOE/D), while the Jake 2 has shown an even higher average of 1,598 BOE/D.
According to the Pooling Order, the approximate cost for each well was $10 million.
A swift, rough estimate using the back of the napkin spreadsheet calculation, assuming 100% Working Interest (WI) and Net Revenue Interest (NRI), suggests that these two wells already produced enough to cover their costs and are on the path to generating positive cash flow for Scissortail!
As noted in a previous blog, Convey640 encompasses a comprehensive collection of well records and regulatory PDFs, including geological exhibits. All of Convey640’s PDFs can be viewed and downloaded to your computer for additional insights.
Below we highlighted the completion forms.
Congratulations to the Scissortail team! As an Oklahoma-focused company, we at Convey640 are proud to see companies like Scissortail succeed in drilling successful wells in our great state. Scissortail’s success, along with other companies, will only enhance Oklahoma’s appeal for ongoing exploration, development, and investment.
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