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Follow on Google News | ![]() Joseph Sassoon Group secures large interest in a 23,958-acre oil field in the Texas PanhandleJoseph Sassoon Group (JSG), a New York based investment management company, has entered a farmout agreement securing the oil and gas interests across a massive 23,958 acres of proven drilling reserves.
By: Joseph Sassoon Group LLC Daniel Corey, JSG's CEO, said, "We are very excited to develop this proven prospect. Mr. Pickens' ranch is a special place, representing almost 50 years of assemblage, infrastructure, proof of concept and devotion. As a family owned and operated firm ourselves, Joseph Sassoon Group recognizes the impressive historical production levels on this asset, and it is our objective to reinvigorate this legacy." The development is expected to generate a 78% royalty interest, which means these mineral rights are rich with payout to the drilling partners, compared to other tracts with higher royalty obligation due to land ownership. Conservative estimate project $2.3 Billion of resource are available for extraction within the first 1.5 years, based on today's $80/bbl (barrels of crude oil per day) crude pricing. Diverse well locations and advanced geology on the acreage provides confidence in the extraction. For further information contact amnon@josephsassoongr.com End
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