Jerry Lebo with Mewbourne Oil Company will be joining South Coast for an in depth discussion on the energy sector. Mewbourne is currently the 5th largest private energy producer in the United States. Established in 1965, the company has grown into one of the more prominent independent oil and and natural gas producers in the Anardarko and Permian Basins of Texas, Oklahoma and New Mexico with 400 employees, including 78 engineers and 23 geologists.
Their drilling programs offer investors a unique opportunity to invest alongside major U.S. E&P companies in the acquisition, drilling and development of oil and gas prospects in the most prolific fields in the United States. Oil prices have fallen more than 50% since the highs seen in mid-2014; simultaneously, the cost to drill has also dramatically decreased. It costs 30% less to drill the same well today as it did 2 years ago. As we’ve recently seen prices for oil rebound, Mewbourne’s 2016 program has the opportunity to drill at very low costs but produce in a much higher pricing environment.
Mewbourne programs offer Intangible Drilling Costs (IDC’s) allowing investors to write off roughly 75% of the investment over the next 2 years against any type of income, including W-2. The programs last anywhere from 10-15 years. It takes 18-24 months to drill the wells with the first distribution checks anticipated in January 2017. Click RSVP below to join us for lunch on Tuesday, August 2nd, here in the South Coast Office. Must be an accredited investor to attend.