Wing Hollow Oil Field Project

The Allegany / Wing Hollow Oil Project, a fully funded 40-well conventional oil and gas development in Cattaraugus County, New York, demonstrates our proven expertise in delivering high-yield, low-risk investments. Located adjacent to the 350-well Five Mile Oil Field, this project is actively drilling, utilizing advanced multi-zone completion techniques to maximize hydrocarbon recovery from six productive formations. With wells costing just $180,000 each—compared to $8–12 million for shale wells—it underscores our ability to execute cost-effective, high-return projects. Explore Allegany / Wing Hollow and our latest multi-well opportunities to see how we continue to create value for investors.

No deep shale fracking. Cost-effective vertical drilling. Shallow reservoirs, proven production.

While U.S. oil and gas markets face regulatory and economic challenges, our projects thrive in stable environments like New York. By targeting shallow, conventional reservoirs with minimal frac fluid (under 200,000 gallons per well), we deliver strong cash flows without the high costs or environmental complexities of shale plays. Allegany / Wing Hollow is a testament to our long history of successful oil and gas ventures in proven regions.

• Cost-Effective Development: Each of the 40 wells costs $180,000, with the $7.2 million project fully funded, covering lease acquisition, infrastructure, drilling, completion, and production facilities—a fraction of the $8–12 million per shale well in plays like the Bakken or Eagle Ford.
• Proven Hydrocarbon Reserves: The project targets six formations—Bradford First, Cherry Grove, Chipmunk, Bradford Second, Harrisburg Run, and Bradford Third—between 700 and 1,800 feet deep, with up to 120 feet of net pay. Nearby multi-zone wells have produced over 4,000 barrels of oil and 10,000 MCF of gas.
• Multi-Well Advantage: Drilling 40 wells with up to 16 frac stages per well maximizes recoverable hydrocarbons and reduces risk compared to single-well projects. Multi-zone completions outperform single-zone wells (3,000 barrels and 6,500–7,000 MCF), ensuring higher cash flows.
• Robust Well Data: Control wells like Copper Ridge Oil’s #K-1 (2,254 barrels in 24 months) and others validate production potential. The region’s 60-year drilling history since the 1960s, with continuous activity through price lows, confirms reliability.
• Efficient Execution: Standardized “cookie-cutter” drilling completes wells in about one week, with proximity to pipelines, gas-liquids facilities, and roads ensuring efficient production and delivery.
• Rapid Returns: Projections estimate a 100% ROI in 18 months and a second ROI in 40 months at $100/bbl oil, with wells producing for over 20 years, unlike shale wells with rapid declines due to tight porosity.
• Regulatory Compliance: Using less than 200,000 gallons of frac fluid per well—below New York’s 300,000-gallon limit—ensures compliance with anti-shale regulations.
• Sustainable Operations: Shallow, conventional reservoirs minimize environmental impact compared to shale plays, aligning with New York’s rigorous standards for responsible production.

About the Allegany / Wing Hollow Oil Project

The Allegany / Wing Hollow Oil Project is a cornerstone multi-well development, showcasing our ability to unlock proven reserves through advanced technology. Located in Cattaraugus County, New York, it targets six Devonian sandstone formations—Bradford First, Cherry Grove, Chipmunk, Bradford Second, Harrisburg Run, and Bradford Third—known for consistent oil and gas yields since the 1960s. Each of the 40 wells employs multi-zone hydraulic fracturing (up to 16 stages) to produce from depths of 700 to 1,800 feet, delivering higher recovery rates than historical single-zone completions.

Project Specifics: The $7.2 million project was structured into 36 investment units, each priced at $200,000, offering investors a 2.08% Net Revenue Interest (NRI) and 2.78% Working Interest in the entire 40-well program. The 75% NRI assigned to investors applies both before and after payout, ensuring robust cash flows. Fully funded, the project covers all costs, from leasing and infrastructure to drilling and production facilities. Oil is sold at West Texas Intermediate (WTI) prices to multiple buyers, natural gas at NYMEX prices to a New York utility, and condensate/gas liquids separately, diversifying revenue streams.

Historical Context: The Five Mile Oil Field, adjacent to Allegany / Wing Hollow, has produced since the 1960s, with operators like Copper Ridge Oil and Kenco Oil and Gas drilling profitably for over 20 years, even during low oil prices. Early wells using dynamite stimulation were viable, but modern fraccing has significantly increased yields. Allegany / Wing Hollow builds on this legacy, with control wells like #K-1 (2,254 barrels in 24 months, 140% ROI) confirming the region’s potential. Our history of operating over 1,500 shallow wells in New York and Pennsylvania reinforces our expertise.

Current Status: Drilling is actively underway, with each well completed in about one week using standardized methods. The project’s low dry hole rate (<1%) and proximity to infrastructure ensure efficiency. Unlike shale plays with high costs and rapid declines, Allegany / Wing Hollow’s conventional approach offers sustainable production for over 20 years, with a projected 100% ROI in 18 months at $100/bbl oil.

Explore Our Latest Multi-Well Projects

Allegany / Wing Hollow is one of many successful multi-well oil and gas developments in our portfolio. If you’re interested in this project or want to explore our latest opportunities, request our investment brochure to learn how our proven approach can enhance your portfolio. Visit kingdomexploration.com/invest to submit your request and discover our ongoing and future projects.