Within the last decade the oil industry has been confronted with an unprecedented demand for oil and gas products in the face of waning worldwide reserves. As a result, oil producers have been forced to adopt costlier methods to find and recover what remains of this country’s rapidly diminishing reserves. While major energy corporations are still able to bear the rising costs of exploration and development, smaller companies and independent producers, who incidentally are responsible for the larger portion of oil produced, have been compelled to seek funding from outside sources in order to remain competitive. In order for them to continue their aggressive drilling program, to spread their risk and their profits, they need investors / Lessees. This situation has created an excellent investment and tax saving vehicle for the savvy investor, or anyone seeking to become involved in the oil business by owning / leasing theirs own oil and/or gas well.
Prodigy Oil and Gas is the industry leader in oil & gas well leasing and represents a select group of small independent oil producers in the United States who have a number of oil and gas prospects ready for drilling, then AFTER hitting oil / gas, leasing the well. These prospects are all located in known oil producing areas about which there is already a good deal of geological information known.
Prodigy Oil and Gas earns no up front fees from oil producers or anyone else. Our fees are earned directly from oil and/or gas production from the wells being promoted. Furthermore, Prodigy Oil and Gas personally invests in each project it promotes.
Leasing in oil or gas wells is also quite simple. Individuals, such as you, lease a specified time interval in a well. Your income from the well is commensurate with your oil production. Income checks for oil or gas production are disbursed to each Lessee once a month for as long as production occurs, which is typically for 10 years, or longer.
Example:
An oil well producing 50 barrels of oil per day, operating 30 days per month = 1,800 barrels per month, and with oil at $20 per barrel would gross $30,000 per month. A typical well would net its joint Lessor owners around 80% of the gross, with 20% going to the landowner. Therefore, the joint Lessor owners of this example well would share $24,000 per month for the life of the well, which could be for many years. Thus, a 1% joint Lessor owner would receive $240 per month; and a 5% joint Lessor owner would receive $1,200 per month, and a 10% joint Lessor owner would receive $2,400 per month, and so on.
Prodigy Oil and Gas is the industry leader in oil & gas well leasing and represents a select group of small independent oil producers in the United States who have a number of oil and gas prospects ready for drilling, then AFTER hitting oil / gas, leasing the well. These prospects are all located in known oil producing areas about which there is already a good deal of geological information known.
Prodigy Oil and Gas earns no up front fees from oil producers or anyone else. Our fees are earned directly from oil and/or gas production from the wells being promoted. Furthermore, Prodigy Oil and Gas personally invests in each project it promotes.
Leasing in oil or gas wells is also quite simple. Individuals, such as you, lease a specified time interval in a well. Your income from the well is commensurate with your oil production. Income checks for oil or gas production are disbursed to each Lessee once a month for as long as production occurs, which is typically for 10 years, or longer.
Example:
An oil well producing 50 barrels of oil per day, operating 30 days per month = 1,800 barrels per month, and with oil at $20 per barrel would gross $30,000 per month. A typical well would net its joint Lessor owners around 80% of the gross, with 20% going to the landowner. Therefore, the joint Lessor owners of this example well would share $24,000 per month for the life of the well, which could be for many years. Thus, a 1% joint Lessor owner would receive $240 per month; and a 5% joint Lessor owner would receive $1,200 per month, and a 10% joint Lessor owner would receive $2,400 per month, and so on.
