Leander, TX (PRWEB) February 1, 2011
Zetetic Partners, Ltd will auction off a majority working interest of the oil production of the Gupton Lease at 2 p.m. local time on Thursday, February 3, 2011 at the Hilton Wichita Airport on 2098 Airport Road in Wichita, Kansas. The lease is located within the Valley Center Field near Wichita, Kansas. The Gupton Lease is producing out of the Viola formation and includes two producing wells and one salt-water disposal well. Evenson Auctioneers, Inc. will run the auction.
Speaking on behalf of Zetetic Partners, partner J.L. Love observes, “with current events unfolding in Egypt and across the Middle East which could impact oil prices, we believe this oil producing interest offers a sound strategic play for an investor hoping to profit from rising oil prices.” Zetetic Partners is currently divesting itself of its oil holdings.
The lease includes two production tanks, a gun barrel, a salt-water tank and knock out, and two Reda down hole submersible pumps.
For more information on the auction terms visit: http://evensonauctions.com/
“This lease averaged production in 2010 of more than eight barrels per day,” continued Love. “I expect we could probably fetch a higher price next month at auction. But we can’t pick and choose the timing of external events – so we’re aiming to attract interested buyers from within and outside of Kansas and the surrounding region to attend the auction.”
A limited number of oil producing leases are on auction February 3rd. The Gupton property offers the greatest daily production of those listed.
About Zetetic Partners
Zetetic Partners is a Texas-based private investment company involved various business interests including oil and gas production.