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EnergyFunders announces incredible early results from its Parker #10 well – with initial production coming in at 200 barrels of oil per day. This production rate reflects a 100% increase from our original estimates of 100 barrels per day, which we expected to yield a 78% IRR and 7 month payback period.
The Parker #10 is a proven reserves well located in Dinero Field, approximately 30 miles northwest of Corpus Christi, Texas. The drilling location is nearby the prolific Parker Heirs #1, which has produced over 272,000 barrels of oil in the last 10 years.
This well is part of the EnergyFunders Yield Fund I offering.
To see a flyover video of the Parker #10 oil well, and also hear our CEO Laura Pommer discuss the technical aspects of the well, watch this video below.