Has anyone seen any Non-gas liquids (NGL's) in the production from any of the Antero wells? If I follow the monthly production, I never see any NGL's reported. I do, however, see oil production in barrels. And some of the wells in Doddridge County are producing up to 1000 barrels of oil per month. Not nearly as much as Wetzel County, but still significant. One of my units produced a combined 15000 barrels of oil in 2014 between two horizontal wells.
My father-in-law's wells over in Harrison County are dry gas only, as info.
Yes, My wells produce, and I get paid for NGL’s.
Thanks Richard. Perhaps when reporting to the EPA they don't split the wet vs. the dry gas when they report, but they do report the oil. I do know that in Harrison County, the "value" of the gas produced on Antero's monthly statement is averaging $3.70/Mcf, which is higher than the current price of dry gas (around 2 dollars or so). That suggests that the natural gas liquids are being accounted for in the valuation of what's coming out of the wells.
Hi Darin.....thank you for your comment... a proposed wellpad on my property (West Union District) is still in planning stages and far from permit stage but NGLs were discussed and the gas is a "thick, rich formation" of Marcellus gas. Wet and dry content is still too early to know.
My discussion with Denver so far has been about construction, grading etc. and would commence this year, halt for winter weather and resume in 2016. My impression is drilling plans are still on schedule and leasing work has slowed (layoffs) since much of the area is leased and secured.
Your figure of $3.7/Mcf could be a hedged, contract price which they were able to get a few years ago for the market.
I didn't realize Antero was in the oil business too; I just assumed they concentrate on gases). They have a great video of the fracking process on their homesite.
Are there any sample royalty statements per division orders to look at? I have never seen one - not sure if I ever will (haha). I'll have to google for it.
Ancel, If you google , National Association of Division Order Analyists, you should be able to find a copy of a sample Division Order. That is the Form that Antero uses. About the oil; there is usually some oil produced with any well. Sometimes very little, sometimes a lot. According to Antero, the extraction of NGLs decreases the amount of gas that is available for sale. They will subtract that amount of gas from what is recorded as your RI. In the past, if you compare the money you would have received for the gas at the well head to the money you receive for the NGLs you come out ahead. They say they only do that if the value of the NGL’s is greater than the value of the raw gas. So you always get the best RI. Since during my research I figured out that the actual processing of the products was more technical than I had time to learn, I decided to accept their explanation. On my last check I got RI for gas only. I am looking at prices and waiting to see what the next check will be. So far they seem to have been pretty honest with me. However, I still try to apply the “Trust, but Verify” philosophy.