Please join the South Coast team on a conference call with Mewbourne Oil Company to discuss the massive opportunity that exists today in 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.
In an industry famous for booms and busts, there are companies in the oil and gas business that have stood the test of time by investing during the downturn when drilling and completion costs were low. That opportunity exists today in the two basins, the Permian and Anadarko, where Mewbourne Oil Company has operated since their inception in 1965, with well costs down roughly 30% from the highs of 2014. Finding costs are also more attractive today than they were 18 months ago and many of the best operators are creating value for their investors and shareholders in the current pricing environment and that value will only improve as the supply/demand picture improves.
Mewbourne programs offer Intangible Drilling Costs (IDC’s) allowing investors to write off roughly 70-75% of the investment over a 2 year period against any type of income, including W-2. Income produced by these programs is also significantly tax-sheltered. It will take roughly 18-24 months to drill the wells for this year’s program with first distribution checks anticipated in early 2017. Click RSVP below for conference call information. Must be an accredited investor to attend.