King Operating Corporation is a privately held Texas oil and gas operator based in Dallas. Led by, Jay Young, a fourth generation oil and gas professional, King has a leadership team with over 100 years of combined oil gas exploration development experience and maintains an operating staff of industry specialists, including geoscientists, engineers, field operations, finance, accounting and land professionals. King personnel focus their energies to acquire, develop and divest oil and gas projects located throughout the country.
What does this mean? We utilize the A-D-D Method
We located contiguous acres in an area of established production. Currently, we’re in the Permian Basin targeting the Wolfcamp.
With the initial equity we’ll drill two horizontal wells and a salt water disposal well. Once production is stabilized we’ll use the reserves as collateral to obtain a credit source to fund future drilling. Repeat. Repeat. Etc.
Within 3 to 5 years, we plan to prove the field’s value, sell to a public company, and maximize profits.*
*Various assumptions and conditions underlie these hypothetical estimates
With this type of investment, you are entitled to a write-off of up to 80 percent of IDCs (intangible drilling costs) against ordinary income in the first year.
Please click link below for further details.