I have 2 questions. #1. I have 2 original wells in Howard county that have been activated in 2022,they both are going pretty good,so they drilled 4 more holes in each original well to pump more at a time,my question is how many times can they refract the 2 main wells and off shoot veins? Ive heard rumors that a new fract thats working out really good only has about 2 years of good production and then they might refract again…is this true or a myth or gossip? Now for my second question #2. Ive signed a lease for a solid 2 years and they have the option to lease for the 3rd year… Ive heard that I can up my price if I want and would that be a wise thing to do? Thank you,
Not knowing where you are makes answering a bit difficult. General answer below.
I think that you mean that you have two main wells and four infill wells. They are probably stand alone wells and do not come off of the first two. They may share a pad, but not the same borehole That is VERY rare. You can look up your abstract on the Texas Railroad Commission site and see the wells.
Refracking is done, but not that commonly. Experiments are ongoing to see if the economics are worth it. They probably would not do them at two years as that is too soon.
If you signed a lease and they drilled wells according to the lease and they are productive, then the lease goes into the secondary term. The option to renew is no longer valid as the lease is held as long as their is production that meets the clauses in the lease.
If no well is drilled in the primary term and you did not agree to a price on the option when you first leased, then the ball is in the operator’s court and you are not likely in a good position to up the price and they may not want to renew the lease at all. I do not do options for this very reason.