Veteran Exploration’s Puller Sec. 20 Lease reaches 25,000 barrels of oil sold- $1.4MM Gross Revenues

Veteran Oil Partners LLC announces that it has sold its 25th thousand barrel of oil off of its Puller lease located in Creek County, Oklahoma. The “Puller” Play was a Skinner sandstone development that initiated in mid 2014. Veteran held acreage in what came to be the center of an emerging shallow oil play that utilized new cross-polymer gel fracking techniques to access over looked oil reserves in the 2700 ft. deep Skinner sandstone.  “The VETEX Puller Sec. 20 lease, and surrounding Skinner sandstone development as a whole, is another classic story of operators of the past overlooking pay that registered as low-resistivity, or “wet zones”, on modern day e-logs” Veteran Oil Partners CEO Derek Evans is quoted in comments. Veteran Exploration & Production’s Puller lease has sold 25,987 barrels of oil in total at an average price of $50.00 per barrel. Unfortunately, the discovery coincided with the 2015 and 2016 crash of oil prices that sent prices earned in the field hurling to a low of $23.00 per barrel. Through the low pricing environments the 2700 ft. pay-zone proved resilient and continued to churn out net positive monthly revenues. To date the VOP property comprised of 3 wells has generated gross oil sales of $1,333,000.00. The lease is in production and averages approximately 14 barrels of oil per day. 

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Veteran Oil Partners
1700 Pacific Ave
Suite 250
Dallas, TX 75201
Toll Free: 844.655.5216
Local: 214.506.0191
Fax: 972.499.1951
Email: info@veteranoilpartners.com

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