Rise Petroleum introduces a better way to be invested in oil & gas. Our role is to purchase existing wells that are currently, or have a record of, producing oil and gas for many years. We then package the wells, selling the working interest to investors who then become non-operating investor.
Working Interest is a percentage of ownership in a mineral lease granting its owner the right to explore, drill, and produce oil and gas from the leased property. However, working interest owners also bear the proportional share of the costs and liabilities associated with leasing, drilling, producing, and operating a well.
Our working interest investors are provided a packet on each well and the data land for which the wells sit on. Each well is identified by its API well number that can be used to locate a well and track its production reported to the Railroad Road Commission.
API (American Petroleum Institute) well number is a permanent, unique, identifying number assigned to each oil and gas well in the United States.
There are two types of working interests, operated and non-operated. In the case of most mineral owners, they would fall into the non-operated category. As you might expect, the owner of the operated working interest is responsible for all aspects of drilling and operations for the lease—this is our part at Rise Petroleum.
There is only one operator per lease. When the operator gets an assignment or a new lease and is going to be the operated (WI ) owner, a document called a P-4 is filed with the state to assume responsibility for the wells on the lease. The state of Texas requires a license and a cash or credit bond to be put up with the Rail Road Commission in order to be a operator/producer. Rise has a bond put up that allows us to operate up to 99 wells. The majorly of the decision making is agreed upon by all WI owners, but the operator handles all decisions related to the lease. The non-operated working interest owner is consulted on decisions related to the lease but are not involved with actually operating any wells.
Prior to purchasing working interest, you will be given a packet for your own due diligence and consideration into a deal.
We provide well logs that show us what is down the borehole and what to expect. Logs show thing like ( Water, Sand, Shales, Chalks, Hydrocarbons oil/gas, How open or tight a zone is Etc.) Open hole logs are how the oil companies that are drilling decided if a well should be completed or plugged.
Well logging, also known as a borehole logging, is the practice of making a detailed record (a well log) of the geologic formations penetrated by a borehole.
You might have heard the term “DRY HOLE”. That means the drillers logged the well and didn’t see what the hoped for and decided not to spend the extra money to finish the well. It happens. Rise only purchase prospects that have or had current production and has/had a well with good logs. This takes out a major amount of risk because we have a good idea of what is down there already. If available 2D/3D seismic maps will be provided.
We understand that most people haven’t been educated in oil and gas; however, our team is available for any questions or concerns you may have.
