Overview of Plans
Generating Revenue by Acquiring, Developing and Improving Production of Oil & Gas Projects
Walker Lane Exploration’s plan is to acquire smaller producing oil properties that have strong up-side potential. Using new technology, the company can increase present production by up to 50% or better. As part of our environmentally conscious plan, the company will generate our own Solar and Wind Power along with back-up from local power companies for emergencies.
Currently, Walker Lane Exploration has acquired 100% of Xon Energy Resources Inc., which owns Oil and Gas Leases in Texas. These leases have probable reserves of over 630,000 barrels in the ground, with another 2 million Behind-Pipe where, upon performing additional work, we expect to recover more reserves from zones in existing wells. In 2015, a third party approved geologist produced a National Institute Audit Report 51-101, which is an Audit of Reserves for our Whitcha Fall County Leases supporting these reserve estimates.
Walker Lane management projects these leases to have a total production of approximately 100 BOPD (barrels of oil per day). Based on $60.00 per barrel this will produce $160,000 per month, with gross revenue of $2,190,000 per year. These Leases comprise over 200 acres in the Wichita Falls County, in North Texas. Management has determined that out of the 45 existing wells on the property, 26 wells can be re-worked into producing wells. Our cost per barrel is approximately $20, as all our wells are shallow being approximately 2500 ft. deep. To date, these leases have already had production of over 1.5 million of barrels of oil.