Welba Peak Project, Sand Wash Basin, NW Colorado, is an overpressured oil resource play. The current 30,000 acre position has estimated reserves of >100 MMBO and 650 BCF of rich gas with an NPV15% value of $1 Billon and an IRR of 85%. The primary drilling targets are three marl benches that average 200’ in thickness and are oil saturated. The horizontal discovery well had a choked back IP30 of 736 BO + 3.1 MMCFPD and produced 93 MBO and 0.3 BCFG in <7 months.
The Niobrara section in the play area is >5 times thicker than the Niobrara in the core area of the Denver Basin. The accessible play area has over 27 Billion Barrels OOIP. The play is a classic horizontal play where extensive vertical thermal fractures within a temperature defined overpressured oil area, the Goldilocks area, has resulted in marginal or unproductive vertical wells and a prolific horizontal discovery.
The successful buyer will build the 10 mile Welba Peak Gathering Line to tie the discovery well and future wells into the pipeline network and carry the current WI owners for an interest in a negotiated number of new wells or make a cash buyout.
Brands: Welba Peak, NW CO. Overpressured Oil Resource Play, NPV15% $1B, >100 MMBO, 650 BCFG on 30M leased ac. Play 27 BB OOIP, 200' thick bench targets. Disc prod 93 MBO + 0.3 BCFG chk back <7 mos.