Since inception Veteran has set out to be an independent oil and gas exploration & production operating company not a non-op interest promoter and/or investment group. We generate our own prospects, we lease our own minerals, we direct our own operations, and we manage our own production. We do it with the fewest people possible to generate the greatest amount of economic output possible.
1. GEOLOGICAL MERIT– We believe an oil company is only as good as its geoscience team, the knowledge they possess in the company’s core area of operations, and their ability to consistently generate quality prospects that will offset well declines and add valuable recoverable reserves to the balance sheet. Veteran’s geo team has more than 40 years’ experience working the various geological formations of the Ft. Worth basin and has proposed more than 400 well locations for a large independent that sold for $3.5 billion in 2001. Our geological capabilities include:
2.EXPERIENCED ENGINEERING– We believe the blueprint of a successful oil and gas company begins with understanding how and where to find commercial oil, but places equal importance on understanding how reservoirs work once found, being able to quickly and effectively solve complex problems that may arise and implementing cost effective solutions without compromising wellbore integrity throughout the drilling, completion, and production phase of a project. Veteran has bolstered its internal operations capabilities by recruiting a highly experienced petroleum engineering firm that has drilled and completed over 1,000 horizontal wells throughout major producing basins in the United States. Our operational capabilities include:
Veteran Oil Partners’ oil and gas investment strategy is to offset the various risks associated with drilling for hydrocarbons through a combination of practices, but none more important than diversifying investment capital across many drilling prospects. This is the very reason we invite qualified investors to participate in the high-quality prospects we generate, operate, and manage. Typically, we reserve 10%-15% of a project for new partners to fuel company expansion, invest a 10% working interest for our own account, and fund the remaining 75%-80% W.I. of a project with 1st Rights of Refusal interests owned by our existing investment partners. The “3rd for a ¼ industry deal” derived from the wildcatter pioneers’ understanding that drilling for oil was risky business. They knew that the greatest chance for long term success existed when several companies would come together in joint venture to proportionally share the costs & risks associated with drilling a prospect well. To date, even though information gained from past drilling and advancements in exploration, drilling, and completion technology further mitigates the risks of oil exploration, this investment model & strategy continues to be a staple of successful oil companies across the world.
Veteran Exploration & Production seeks assets that are risk mitigated, generate positive cash flows and that exhibit the potential for future growth through continued development.
The Ft. Worth Basin is in the mature state of development with tens of thousands of wells already drilled. Knowing the successes and failures of past drilling can give us an edge in further development. To implement future development and extend existing fields, and find new ones, we have mapped formations and fields on a regional or semi regional basis. When we do this, quite often we can understand why fields exist in the first place. We often see faulting and structure that is directly related to producing formations. Another factor that we try to exploit is shallow reservoirs that were over looked mostly because they were low resistivity plays that looked wet in older vintage electric logs, but, are not. Because they didn’t recognize these pay zones, diagnostic logs were not run over these formations. Most operators now see the benefit of running entire log suites over the entire well. Along with running a mud log, these overlooked formations are now coming to light.
The igneous and metamorphic basement rocks are over laid by the Cambro-Ordovician Ellenburger which is a laterally extensive dolomitic formation that is present throughout most of Texas. It contains porosity at many intervals but is most often wet. It is often used to dispose of water generated by other formations. In the Eastern side of the basin, the Viola – Simpson Ordovician formation overlies the Ellenburger. It can also be productive in structurally high positions or certain stratigraphic traps. It is eroded to the west in a line that is orientated NW – SE. (Figure #1) See Ellenburger structure map, Ellenburger production map, Viola structure map.
The information provided in and on this website is for informational purposes only and provides factual business information about Veteran Oil Partners, LLC. This information provided in and on this website is not intended to and does not constitute an offer to sell or the solicitation of an offer to purchase to any person in any jurisdiction. The contents of this website shall not be construed as legal, business or tax advice.
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