West Five Mile Oil Project: Development Record
A 40-well conventional vertical development in Cattaraugus County, New York, targeting six Devonian sandstone formations.
Development Milestones
As of August 2025. The milestones below were published during the 2025 drilling season and have not been restated since. Treat them as a point-in-time record, not current status. For where the wells stand today, ask us for the current well-status report.
June 2025
- 88 – 91 feet of oil pay logged across six Devonian sandstone formations
- Offset wells of record: Copper Ridge Oil’s #K-1 and Kenco’s #C-21
- First well spudded June 3rd
July 2025
- 11 wells drilled by mid-July
- First completion July 21st: multi-zone hydraulic fracturing, up to 16 stages
- Completion fluid volume: under 200,000 gallons per well
August 2025
- 15+ wells drilled, 5+ completed as of the August 2025 update
Program Facts
| Program size | 40-well conventional vertical development |
| Location | Cattaraugus County, New York — Five Mile Field area |
| Pay logged | 88 – 91 feet across six Devonian sandstone formations |
| Completion method | Multi-zone hydraulic fracturing, up to 16 stages; under 200,000 gallons of fluid per well |
| Development cost per well | $192,500 all-in, budgeted |
| Adjacent field | 250+ producing wells |
What a Working Interest Owner Takes On
Drilling in a developed field reduces geological uncertainty. It does not make a program low-risk, and no drilling program is risk-free:
- Total loss is possible. A well can miss commercial oil, and a well that finds oil can still fail to pay back its cost — that is not a dry hole, but it can end the same way for an investor.
- Cash calls. Cost overruns on drilling, completion or operations can be assessed to working interest owners beyond the original subscription.
- Plugging and abandonment. Owners are liable for their share of plugging and site restoration at the end of a well’s life — when it is producing little or nothing.
- Price and mechanical risk. Revenue tracks oil prices; casing and downhole failures can take a producing well offline.
- Illiquidity. There is no public market for these interests.
Regional Operating History
Between our operating team and geological consultants, nearly 2,000 wells have been drilled throughout this region. That footprint is the basis for the decline-curve expectations, completion design and subsurface modeling used to lay out programs here. It is operating history, not a forecast of any individual well.
Slocum Hollow: Also Closed
The follow-on 30-well Slocum Hollow development, north of here, uses wider well spacing and the same six-formation shallow sandstone target. It is fully subscribed and closed to new investment. Read the Slocum Hollow case study for how a unit, a working interest and a net revenue interest actually fit together.
Nothing Is Open Right Now — See the Next Program First
Every program we have offered to date is fully funded. Our screening platform is grading the next candidates now. Join the first-look list and you will see the geology, the structure and the offering documents when the next program opens.
Want to understand the first-year deduction before then? A working interest deduction reduces tax on income you have already earned — it lowers your net cost, it is not a return.
