Cannon Operating is pleased to announce that we have begun building location for the first of two wells to be drilled in the 4th quarter of 2016 in the Shawnee number 2 Field Multi Well Drilling Program.
The Shawnee number 2 Field is considered to be analogous to the Shawnee number 1 field from which Cannon Operating drilled the Shawnee Two dash one eight. The Shawnee two dash one eight had an initial production of 195 Barrels of oil per day, and over 60 THOUSAND barrels of oil produced in its first 24 months. This well returned 100% of the participant’s capital in the fifth month of production.
It is still producing 40 to 50 barrels of oil per day; two years after its initial production.
Each Well will be drilled on 40-acre spacing with potential reserves in the primary objective of 200 THOUSAND barrels of oil and 150 MILLION cubic feet of natural gas per well.
There are also 5 additional zones of interest EASILY accessible through a single wellbore
The 2 Well prospect offers EACH participant a LARGE ownership position, a LOW cost of entry, TREMENDOUS income potential, EXCELLENT tax advantages, and future development opportunities on the lease.
Contact us today to receive a free prospectus
We look forward to hearing from you