Cheryl, Not factoring in the rise in price what does the decline in production look like? Are you getting mostly oil. You’re in Canadian or Blaine aren’t you?
To Cheryl: All wells are different. Some require a lot of curative work to perfect title, others have inumerable owners. There are many factors that can vary the time it takes to issue DOs.
Cheryl-The closest example is the Barnett Shale around Fort Worth, Tx. Wells have been producing there since 1991 and are still giving up a little gas. The production rate has fallen to about 10% of the initial rates produced by this time.
The Woodford shale is a different reservoir and has a healthy componet of oil which the Barnett does not. The wells do not have enough age on them to be able to tell how long they will last. Ten years or more is a reasonable estimate with 80% of the production coming in the first five years if these wells act in a sililar fashion to other shale reservoirs around the country.
The Woodford is a very tight rock and the fracing breaks some of it up, not much though, and allows the production. When the broken up part is drained very little will get to the borehole after that.
Cheryl - Thank you for the info about Devon completing wells in Canadian County. I am new to this gas and oil production and have mineral rights to property ( Canadian County - SE/4 SEC32 - T. 14N - R. 9W ). I have tried to understand where to look for more information -Tulsa World and have only found about a well named Ricker No 1-32, but I believe it is in section 05? Please would you know if there are any complete new wells near my tract of land? I would like to thank all on here, it is interesting. It helps to read all the comments. Still learning to surf the web to find more info. Many thanks to all. Tom
Thank you Don, that info will keep me focused on how much to spend vs save since I am finally retiring. I had hoped devon would space out the number of wells drilled over the years but I guess getting a bunch at once is a sure thing vs an uncertain future. To Tom-- everything I know I have learned on this forum starting with a picture posted back in August (?) of wells being drilled on my section. Everyone is very helpful here and I am sure someone will have an answer for you. Michael? It was Gary’ I believe who told me about wells into our section being drilled with well head in another section. Oh one time I did send a question to all experts.com about any drilling going on. And then I did call devon energy and confirmed we had the 5 wells completed. Good luck.
Thanks Stephanie and Andy. Our well started producing about 6 weeks ago and I’m getting anxious about division orders.
Tom, There is a lot of good information on the OCC website. It takes a while to learn your way around. I’ll be glad to look up your section and let you know what I find.
Thanks Michael, I never thought about the papers on line. Hopefully I can get my son to set me up on the computer like you. And maybe he can tell me how to put a picture on here. I hope your check comes sooner than later! My biggest problem with getting the check every month is that I am always afraid the amount will drop big time but with the price of oil high now it seems to be holding steady after 2 years.
Michael, we are in Canadian county and the out put is NGL, COND, RES-GAS and GAS-MCF. I am not so good in math but it looks like the gas is down more than half of original output but the NGL is up double what it was at the beginning and the condensate is down acout half but is what is getting the biggest price. So all in all the check is still decent by my standards. But maybe not to someone lookin to be another bayou billionaire!!! To Stephanie…that makes sense since I see most of the names on the division orders for these new wells are the same as on the other well.
Don, I don’t know how long horizontal shale wells have been around, is there any history on how long one has been producing enough to keep it going? Or are they still too new to speculate? Many many years ago when I inherited the minerals I was getting a check for $250 a month and was very happy about it! My times change.
from new field energy
Tom, 32-14N/9W Pooled by Devon in July 2010 for $2000/nma 3/16. Location Exception Order issued Sept 20, 2011. These are indicators that they plan to drill but I’m not clear on the Pooling because under normal circumstances the order would have expired before now. I don’t know if they will have to re-pool or is there are extensions possible. I’ll try to find out more when I get a chance to read the orders.
Hope they put the check into rush mode too! Wish I got the newspapers from ok. Must be some interesting reading with everything that is going on
Cheryl www.newsok.com is the Okla. city paper, Devon is moving into a new 50 story office building and Continental will be moving into Devon’s old headquarters.
Thank you Richard. I just saw that building. I haven’t been in ok since I was a kid. Probably would not recognize OKC now. No wonder devon is drilling so many wells. Gotta pay for that new space.
Cheryl’s observation that the amount of her check has not declined much is because the price of oil is high. The change in the price of the oil will support the steady amount of a given monthly check. She observed that the amount of gas in the checks seemed to be declining.
If, over a period of 5 years, the price of oil, natural gas, condensate and narural gas liquids had remaned a constant with not a penny’s variation in those prices she would have seen a steady decline in her checks. Maybe 50% or more per year to be paid to her. This is the way a shale gas well works and applies to similar plays throughout the U.S.
To all that are very happy with their checks but are complaining about the price of gasoline take note. If the price of oil was $50 a barrel and gasloline was $2.50 per gallon the checks woule be a lot lower. Along with that would be a significant drop in the number of wells drilled. $50 a barrel oil will not support drilling many $11,000,000 wells. Especially with a declining output in gas and oil.
In cases of increased density wells where mineral title is virtually the same as existing wells set up in the oil companies system, DOs may be issued much faster.
I noticed out in 14N 10W area approx 3 miles to the north of where Cimarex has those 8-9 rigs in a row there was another well that was drilled and the rig has been moved down another mile to the west and cimarex is building a really big pond in between both of them. Maybe they are going to be doing a bunch of fracking in that area. Any ideas?
Somewhere in that area Devon built a very large pond and that was for their own usage of the frac water. For the water that flows back after a frac, I am not sure how they handle that. They could flow it into tanks on site and then haul it off. They may be able to recycle the frac water with the chemicals in it and reuse it. I am not sure about that part.
If you go to the OCC website and look at form 1002A… It is showing that the Ricker 1-32H had a test date of July 14, 2011 and had 205 BBL/Day OIL and 3868 MCF/DAY in GAS … Gas-oil ratio cu ft/BBL 18868. Maybe in the near future there will be more rigs on the section.
Michael, I appreciate the information and have made a few calls. Received notice in the mail today that they came to a communitization agreement covering 640.00 acres in Section 32, Township 14 North, Range 9 West. I guess that is the same thing as pooling? They will do a division order. Hope to find out what and how much it is producing. Will make sure they have all my correct info. Thank you for you time and help.