1031 Oil and Gas: Castle Oil and Gas, Inc.
Castle Oil and Gas offers the opportunity for qualified investors to participate in development and exploration oil and gas drilling. Castle works with 1031X.com with real estate investors by placing their 1031 tax deferred profits into long term oil and gas properties.
Castle Oil and Gas currently has drilling and invesment opportunities Oklahoma, Wyoming, Texas and off-shore Gulf of Mexico.
Salt Creek West acquisition opportunity
Castle currently is offering to an industry Partner the opportunity to redevelop 18,000+ acres in the Salt Creek West and the Smoky Gap Fields, with 220 wells located in Natrona County, Wyoming. The current production is 1,200 barrels per month, with 2 wells permitted to drill and 3 well applications waiting for approval with the BLM. 100% WI of 10 oil and gas leases, delivering a 78% NRI and operations are available for sale or joint venture.
The acreage is located immediately to the west of Anadarko’s Salt Creek oil field in the Salt Creek West and Smokey Gap Field’s. Since 2003, Anadarko has successfully injected CO2, “increasing production to a one day all time high of 6,055 bopd” (Anadarko 3rd quarter report 2007), expecting to rise to 20,000+ bopd from existing and new wells. It appears the CO2 is not moving to the east, but to the west of Anadarko’s Salt Creek Unit because of the numerous faults. Please to additional information on our link.
Real Estate to Oil and Gas via a 1031 exchange
Castle also assists investors through the 1031 tax deferred process to invest in oil and gas producing. At this time, we have an oil and gas property that has generated over 12% rate of return over the last 24 months, in Texas. This investment is available through a 1031 tax deferred exchange or using other investment capital. These figures were based on prices during those producing months. At the current oil price, the rate of return may possibly increase.
Castle Oil and Gas President, Dana Veitch has participated in over $1b worth of oil and gas property transactions with major and independent oil companies since 1979. With this experience, Mr. Veitch only deals directly with the Operator, not like the larger companies offering similar oil and gas investments, who do not encourage you to communicate with the Operator. We want you to shop and compare the market, particularly the administrative/closing costs and rate of returns. Castle does not charge administrative or closing costs, 100% of your investment dollars goes towards the interest purchased and strives to offer the best and most reliable properties with the best rate of return available.
Purchase oil & gas interest from Estates, Trusts and Individuals
Castle Oil and Gas is a privately held oil and gas company that also focuses on assisting the oil and gas mineral and working Interest Owners, Estates and Trusts in divesting their interests, helping to clear their portfolio of oil and gas interests, and assist the investor to purchase oil and gas interests that might be more profitable in the future.
Please feel free to give us a call and discuss those oil and gas interest you own. We will be happy to discuss the process and cash payment for your oil and gas interests.
You may also consider selling your producing oil and gas interest, retaining the profits through a 1031 tax deferred exchange.
Through the IRS tax deferred 1031 exchange process, you may sell your producing oil and gas interests, avoiding taxes on the profits by purchasing real estate, other producing oil and gas interests, or other qualified real property assets. Castle currently has steady producing oil and gas properties available.
After comparing the customary depreciation used in real estate TO the customary depletion used in oil and gas, you will be able to see which real property asset that fits your taxable income, real estate or oil and gas revenues. Take a minute and use our tax calculator to compare real estate tax benefits to oil and gas tax benefits
The figures on the tax calculator are estimates. It is advised to consult with professionals, including, but not limited to Attorneys and/or Accountants prior to making any decisions.