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Optimum 15 Well Joint Venture

Income
Converse County, WY
Target Return
9.00%
Minimum
$25,000
Hold Period
15 Years
Optimum Energy PartnersSponsored by Optimum Energy Partners · $100M AUM
Overview

Optimum 15 Well Joint Venture is a $12.5M oil and gas drilling program structured as a Texas joint venture, acquiring minority working interests across fifteen horizontal wells in two of the most active onshore basins in the United States. The venture targets twelve wells in the Powder River Basin across Campbell and Johnson Counties, Wyoming, operated by Devon Energy and Anschutz Exploration, plus three wells in the Anadarko Basin in Roger Mills County, Oklahoma, operated by Mewbourne Oil. The program provides accredited investors diversified exposure across multiple wells, operators, formations, and basins within domestic energy production.

Why This Opportunity

  • Diversified across 15 wells and 2 basins: Capital spread across fifteen separate wellbores operated by three established operators, reducing concentration risk associated with any single well, formation, operator, or basin

  • Tier-one operators: Wells operated by Devon Energy (Fortune 500, S&P 500, 398,000 BOE/day Q4 2024 production), Anschutz Exploration (private independent with extensive Rockies operations), and Mewbourne Oil (one of the largest privately owned U.S. oil and gas companies, founded 1965)

  • Active basin exposure: 12 Wyoming wells target the Niobrara and Mowry formations within the Powder River Basin, among the most active onshore oil plays in the country. 3 Oklahoma wells target the Cherokee formation within the prolific Anadarko Basin

  • Turnkey cost structure: Drilling, testing, and completion costs fixed under the turnkey joint venture agreement, providing cost visibility at subscription with no unexpected capital calls for initial operations

  • Tax-advantaged structure: Working interest participation provides access to intangible drilling cost deductions (typically 60-80% of drilling costs deductible in the year incurred), tangible drilling cost depreciation, and percentage depletion allowances tied to ongoing production

  • Sponsor alignment: Optimum Energy Partners contributes 1% of initial venture capital and ties compensation to turnkey contract execution

  • Projected returns: 9.0% target return with a 2.35x equity multiple over a 15-year hold

Deal Structure

  • Total program size: $12.5M

  • Structure: Texas joint venture, with Optimum Energy Partners serving as Managing Venturer

  • Fractional Unit options: 1/4 Unit ($125K), 1/2 Unit ($250K), full Unit ($500K)

  • Minimum investment: $25,000

  • Offering: 506(c) Reg D, accredited investors only

Working Interests and Well Breakdown

Powder River Basin (Wyoming) – 12 Wells

  • Operators: Devon Energy and Anschutz Exploration

  • Counties: Campbell County (2 wells) and Johnson County (10 wells)

  • Formations: Mowry (2 wells) and Niobrara (10 wells)

  • Horizontal length: 2.5 to 3 miles per well

  • Working Interest per Unit: ~0.10%

  • Net Revenue Interest per Unit: ~0.075%

  • Monthly operating expenses: $90,000 (program-level)

Anadarko Basin (Oklahoma) – 3 Wells

  • Operator: Mewbourne Oil

  • County: Roger Mills County

  • Formation: Cherokee

  • Horizontal length: 2 to 2.5 miles per well

  • Working Interest per Unit: ~0.16%

  • Net Revenue Interest per Unit: ~0.12%

  • Monthly operating expenses: $20,000 (program-level)

Landowners retain approximately 25% in royalty interests on each well.

Tax Benefits of Working Interest Participation

  • Intangible Drilling Costs (IDCs): Generally 60-80% of total drilling costs are 100% deductible in the year incurred

  • Tangible Drilling Costs: 100% deductible, depreciated over a 7-year schedule

  • Depletion Allowance: The "small producer exemption" excludes 15% of gross income from oil and gas wells from taxation for qualifying participants

  • Active Income Treatment: Working interests are classified as active (not passive), meaning net losses can be offset against other forms of active income such as wages, interest, and capital gains

  • AMT Exemption: Excess intangible drilling costs are specifically exempted as a preference item on the alternative minimum tax return

Tax benefits vary by participant circumstances. Investors should consult their own tax advisors regarding eligibility and specific tax outcomes.

How Allocation Works
$25,000,000
Offering Size
÷
$25,000
Minimum
=
1,000
Investor Limit
1,000 is the investor limit if everyone invests the minimum. Since many invest more, the offering typically fills with fewer.
Project Your Returns
The Market

Converse County, WY

The venture's capital is concentrated across two of the most prolific onshore oil and gas basins in the United States: the Powder River Basin in Wyoming and the Anadarko Basin in Oklahoma.

Powder River Basin, Wyoming (12 Wells)

  • Geologic structural basin spanning southeast Montana and northeast Wyoming, approximately 120 miles east-to-west and 200 miles north-to-south

  • One of the most active onshore oil producing regions in the United States

  • Contains major oil and gas deposits including the historically significant Salt Creek Oil Field

  • Currently active plays include the Niobrara formation, Turner sandstone, and Mowry formation sequence in the eastern basin

  • Recent USGS estimates put recoverable Niobrara resources at 227 MMBO of oil, 227 BCF of gas, and 13.6 MMBNGL of natural gas liquids

  • Mowry formation estimated recoverable resources of 198 MMBO, 198 BCF, and 11.9 MMBNGL with modern fracturing techniques

  • Wyoming maintains a regulatory environment historically supportive of domestic energy development, contributing to consistent permitting activity and operational continuity

  • Mature infrastructure, experienced service providers, and proven geology position Campbell and Johnson Counties as core operating areas within U.S. onshore oil production

Anadarko Basin, Oklahoma (3 Wells)

  • The deepest Phanerozoic sedimentary basin in North America

  • The Cherokee Group has produced over 1.2 trillion cubic feet of gas to date

  • Red Fork Formation (deepest productive member of the Cherokee Group) has predicted reserves of 876 BCF of gas, centered in Beckham, Custer, Roger Mills, and Washita Counties

  • Roger Mills County has experienced a recent surge in Cherokee Group activity, with horizontal wells drilled at true vertical depths of 9,000 to 10,900 feet and laterals extending 9,176 to 11,143 feet

  • Offset wells have recorded initial daily production averages from 2,412 to 13,311 MCF of gas per day and 538 to 950 barrels of oil per day

Common Questions

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Target Return
9.00%
Equity Multiple
2.35x
0 Views
1,000 Investor Limit

Initial Investment ($)

$25,000$25,000$1M

Assuming your selected investment, after 15 years you could expect a return of:

Projected Return (15 yrs at 9% IRR)
$58,750
Irvine, CA 92612

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