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Breitburn Energy Partners L.P. Message Board

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  • rlbeard6734 rlbeard6734 Jul 20, 2011 5:38 PM Flag

    the Good, the bad and the ugly

    I did decide to go into a drilling program as a general partner with Atlas Resources drilling gas in marcellus. 91% write off the first yr and according to past history a monthly check starting about one year later of distributions of almost 1.7% with a 15% depletion allowance. considering my tax bill this year it will be a great return and enough for retirment income. If you want to know how it goes contact me on the aapl board or CLF board in about a year or 18 months. Program closes8/31/11. I have several friends that have been in their programs yearly for several yrs and doing excellent annual returns. This is highly non liquid.

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    • rl gutsy but respected move. I worked in O&G industry for 25 years, mostly e&p. On devlopment wells historical success rate was around 80% to 85%. Even though that is great benefit/risk reward ratio; for those like me who live on investment dividends/distributions that would still be too risky. again good luck

      formerly mlpvestor

      • 1 Reply to moneyonomics
      • I have looked at there programs over the last 26yrs on gas drilling and less than 2% are non fcn wells that didnt pay. My friends that have been in this program for several yrs not only got 90% write offs of all costs first yr, they got distributions beginning about month 15 of over 1.2% monthly along with the 15% depletion allowance. That is far superior to here but the liquidity is almost nil. The last program is returning almost 1.6% per month. NOt only the returns but the tax savings are very critical to me right now because I rolled my IRA into a Roth and was going to give 45% to the govt if I didnt do this.

 
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