Judith Bookman
Buckhannon, WV (USA)
Role(s):
Tanner Energy, Inc.
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Startup
Location:
Buckhannon
Industry:
Energy
Year Founded:
2007
Number Employees:
INVALID
Description:
DEAL MEMO
Tanner Energy, Inc.
The Borrower is seeking a $30,000,000 acquisition and development loan for the purchase and development of a currently producing oil and gas company. The conservative reserve appraised value is in excess of twenty billion cubic feet of natural gas.
The 3.5 acre plant sits among 4,000 plus acres of producing leases that comprise four miles north and south and three miles east and west of Wayne County, West Virginia. Along with a sulfur scrubbing plant and compressor plant, there are in excess of 13 miles of pipeline and 9 miles of gathering line. Currently there are 41 Berea oil wells and 15 Corniferous natural gas wells with five new gas wells awaiting completion. Of these 61 wells, seven (7) are currently operational and produci