Oklahoma City, OK (PRWEB) February 26, 2014
DonRay Petroleum, LLC, a privately held oil and gas company located in Oklahoma City, today announced the completion of the DRP Grace #37 Joint Venture well in Noble, County Okla.
The DRP Grace #37 well began production in September 2012 at approximately 75 barrels of oil, 60,000 cubic feet of gas and 1,200 barrels of salt water per day.
As of the end of January 2014 the daily production has settled to approximately 32 barrels of oil, 150,000 cubic feet of gas and 900 barrels of salt water per day. As of the end of January 2014 the cumulative production was approximately 24,384 barrels of oil and 60 million cubic feet of gas.
According to Ray Corbitt, Jr. the joint venture manager and president of DonRay Petroleum LLC, this well has been a success.
“The DRP Grace #37 has paid back approximately 143% return on investment in the first 12 months of production,” said Corbitt. “And this was without calculating any of the tax benefits that are available,”
About DonRay Petroleum, LLC
DonRay Petroleum, LLC is a privately held company that engages in Joint Ventures with private investors for the purpose of oil and gas exploration, production, operating and return on investment.
DonRay Petroleum, LLC secures the services of professionals such as exploration companies, geologists, petroleum engineers, landmen, drilling, completion and production consultants, attorneys and accounting firms specializing in oil and gas. DonRay Petroleum, LLC was founded in 2004 in Oklahoma City by Ray Corbitt, Jr. and is a privately held company. To learn more, go to donraypetroleum.com or call toll-free (866) 525-8202.
DonRay Petroleum, LLC
Attn: Ray Corbitt, Jr.
2525 NW. Expressway, Suite 640
Oklahoma City, OK 73112
Office Phone: 405-418-4348
Toll-Free Phone: 866-525-8202
Production and market prices may vary from month to month, therefore, DonRay Petroleum, LLC is not liable for production, future production or market prices. The press release for DonRay Petroleum, LLC is published for information purposes only. During the development of this press release, every effort has been made to provide only the most current, accurate and clearly expressed information possible. The data and information provided on our press release is for personal non-commercial usage. Neither the information or data presented on this site constitutes a solicitation or offer by DonRay Petroleum, LLC to buy or sell any products or services of any kind or to provide any investment advice or services. Additionally, DonRay Petroleum, LLC disclaims any responsibility for errors or typos and the accuracy of any information found on third party websites. DonRay Petroleum, LLC does not provide specific investment advice to any individual reviewing our website.