Stripper wells are oil or gas wells that produce smaller quantities of oil or gas.
Large oil companies often overlook them due to the smaller scale of production. Despite their low output, stripper wells can still be quite profitable — especially when oil prices are elevated (like right now)
Pytheas Energy uses AI to revitalize these wells, transform them into efficient producers, and generate cash at a fraction of the cost of larger oil projects.
How it works:
Acquire underperforming wells for cheap: Pytheas acquires these wells at a very low cost per well, taking advantage of undervalued assets in areas like the Permian Basin and the Bakken Basin.
Improve production efficiency: Pytheas leverages AI and machine learning to analyze and optimize well operations. By making the wells more efficient, Pytheas can increase production without increasing operating costs.
Generate consistent cash flow: Once the wells are optimized, they produce a steady amount of oil or gas daily. This production generates predictable cash flow, similar to the steady returns from a real estate investment, where rent is paid out over time.
Scale up: While each stripper well produces a smaller amount, Pytheas builds a portfolio of these wells to generate significant overall production. This can create substantial revenue streams.
Sell oil at market prices: The oil extracted from these wells is sold at market prices, which, given current projections, is expected to remain elevated at around $90-$94 per barrel in 2024.
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