Wright Drilling and Exploration Expands into Kansas Drilling Project in Scott County
FOR IMMEDIATE RELEASE (VIEW PDF)
June 9, 2016
DENISON, Texas — Wright Drilling & Exploration, Inc. will expand its drilling operations into Kansas with its first conventional vertical project to break ground in Scott County within the next 60 days. With over 17 million barrels having already been produced from Scott County, and much of this total within the last decade, the new project will be of great interest to any oil and gas investor. By opening up direct oil and gas investing opportunities to accredited investors, along with the often-considerable associated tax benefits, Wright Drilling & Exploration has quickly become a major force in the industry. The company’s expansion into Kansas follows on the success of an inaugural project now ongoing in Okfuskee County, Oklahoma.
“We’re pleased to announce that we are ready to make the move into Kansas and to create attractive new oil investing opportunities as we do so,” said Michael W. Wright, CEO and founder of Wright Drilling & Exploration, “Scott County is a natural place to land, with proven production and plenty of oil remaining to pump. We’ll be breaking ground with our first well within sixty days and are now accepting investments for this and other projects we have planned.”
While investors of average means generally stick to stocks, mutuals, and other well-known investment vehicles, those with significant resources have more options before them. SEC-defined “accredited investors,” for example, are allowed to put money into hedge funds and venture capital projects that are legally off limits to everyday savers, the idea being that a certain level of financial sophistication and resilience should be required of participants.
Wright Drilling & Exploration enables another potentially rewarding form of investing for those with the qualifications. By establishing limited liability companies that plan and conduct exploration and drilling operations, the firm allows for an often especially rewarding form of direct investor participation in the oil and gas industry.
That mission led to the success of the company’s first project earlier this year with the drilling of its first well in Okfuskee County, Oklahoma. Ready to build on that important result, Wright Drilling & Exploration will now expand its operations into Kansas.
Scott County, the site of the first Kansas-based Wright Drilling & Exploration project, has already proved to be highly productive. With over 300 active wells there now turning out a collective average of 3,000 barrels daily and a 2015 total exceeding a million barrels, Scott County has moved over 17 million barrels onto the market over the years, with much of the activity beginning in 2005.
The new Wright Drilling & Exploration project in Scott County will be of great interest to investors seeking to become involved with oil production. Given an average lifetime production of around 50,000 barrels per well there, the company’s first project boasts considerable potential for direct returns to investors in the form of monthly royalty payments. As with other Wright Drilling & Exploration projects, investors may also benefit from attractive tax incentives and the inherent inflation-hedging power of oil.
As the Wright Drilling & Exploration Scott County project readies to break ground with its first well to spud within 60 days, accredited investors are invited to make contact regarding this and other investment opportunities.
Wright Drilling & Exploration, Inc. is an emergent North Texas-based oil and gas exploration investment company specializing in creating Limited Liability Companies for direct participation drilling and exploration ventures for accredited investors. Oil and natural gas investments can provide tremendous tax benefits to its investors.