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Any news, it was permitted in April to be spud in 16 5N 7W spaced at 640 all in 21 5N 7W
Spud Report ... It was spud in April. I have not been down Hwy 81 in a while so I don't know if the rig is still up or not.
Unit completed the Atkinson 1-21H on Aug 8th, first production Aug 9th. Should see payment in March.
http://imaging.occeweb.com/OG/Well%20Records/1DD6A7CE.pdf ... 340 oil bbl/day ... 173 gas mcf/day
Completion Report for the Atkinson 1-21H... Unit Petroleum has 6 months from first production/sales date to pay royalty owners before they would have to pay interest. I would expect division orders and payment no later than February 9, 2018.
Thank you Don. I have trouble equating the Nat Gas production #s into $.
Part of my confusion is between the meaning of the lower case m and the upper case M in their report.
Would you please be so kind as to figure for me the monthly value of the total projected Nat gas production. I can roughly break it down into income numbers based on lease terms. Figuring the Oil value is easy for me.
Question, do they have the infrastructure in place to move those quantities to market, ie: rail or pipeline connections. How would you rate this well 1-10? Ten being best.
Thank you and happy holidays,
Mcf—the volume of 1,000 cubic feet ... 173 mcf @ $3 is only about $4.50 month per nma with a 3/16 royalty. $6 month per nma with a 1/4 royalty.
I do not know if they have the infrastructure in place to move those quantities to market. They maybe could keep the gas there and use it with a gas-lift to get the oil up to the surface. The completion report says the well is pumping and I don't know if they utilize a gas-lift method when pumping or not.
I would rate 340 oil bbl/day as a 7 (based on a 1 rating for every 50 bbl oil)
I would rate 173 gas mcf/day as a 0 (based on a 1 rating for every 500 MCF gas)
Overall rating would be a 7 (based on the top rating)
I am sure many others have a much better rating method than this one.