OOPS, I meant Sec 18 & Sec 7
Tom it is no different then drilling a well on the west side of the section and it holding the east side of the section after the primary term .
Tom..I believe someone said that Sec. 21 2n,4w would get about 34 % and Sec. 28 would get the rest of the Casados. Section 21 will come out smelling like a rose I believe because they also will get about the same percentage of the next five Branch wells that are also wells drilled from the pad on 21. They are also going to drill at least another Casados well and probably more. That's at least six or seven (probably good wells) that Sec. 21 gets a third of so that's not chicken feed. No one has told us this but some on here have been speculating that maybe there is something in the middle of the section that makes them hesitate to go all the way through it. Whether that's the case or not Newfield has figured out the way they can make the most use of the section.
Tom, Amended application for Multi-unit Horizontal Well 1H-7X
http://imaging.occeweb.com/AP/CaseFiles/0304EB23.pdf
I don't think you have anything to worry about, it's allocated 50/50
The Casados and Branch 2-6 were planned as uneven splits going in.
Tom..It will be very interesting to me to see how your well comes out as my mother in law owns a tiny interest in Sec. 20 2n,3w.
That’s really interesting, another good thing about the multi unit wells is that you aren’t damaging a lot of land with a lot of unnecessary pads. I’m excited for y’all down in the scoop. It’s really amazing we have so much oil and gas in our land here in America. Will it ever be enough though?
Oil prices have "plummeted" the last couple of days. I hope they don't make a habit of that!
Linda, I think it was just a small correction. To me plummeted is more like $30 per barrel and not $3. Awhile back my oil sold for $87 a bbl for months when the WTI price was around $80, I guess the contract ran out and I had a month of $75 and then the price was right back up the next month. These little dips don't bother me. To the lessor, a $5 dollar drop per bbl is probably not going to do a great deal to your royalty check, less than $1 of that $5 was going to be yours anyway. I don't let it worry me and I hope you don't let it worry you either. If we want to help the price go back up we can all talk about the terrible oil shortage, we are running out of oil, peak production, the middle east, wink, wink ; )
The shale gas plays across the U.S., when fully implemented, will have a definite downward pressure on oil prices. In my opinion oil in the U.S. could slide $20 per barrel downward over the next two years.
Just my thoughts looking at all the places to go in the U.S. with shale gas drilling. Geologically, there is a whole bunch of potential shales across the country. And the Oil Industry will get to them. If there is one thing you can count on the Oil Industry to do is that they will find it.
Cheniere Energy in Sabine Pass LA is scheduled to start EXPORTING natural gas in late 2015. Cheniere Energy is the only company currently with an Export License, but there are 6-8 others trying to get approval.
The Monterey Shale play in California is very large and covers almost all the the California centeral valley. I think this will be slow to develop because of all of the California laws.
rw...I'm sure you are right. The newpapers and stock market ads always embellish everything to seem much better or much worse that they really are. Yes, I would say that $3.00 change in oil prices would only be an adjustment and not a plummet like they called it. Thanks for sharing what happen on your checks. Makes me feel better about ours being down so much on the second check. That's the same story hubby told me "don't let that worry you it probably just caught the cycle wrong and may make it up next time" . Should be the next check being send out soon. So, we shall see what we shall see!
Linda, just keep those new sugarplums, I mean new wells in mind. It makes a difference on even small acreage when the get it closer to being drilled out and it will happen for you, it already has for me to a certain extent and hopefully it will happen for everyone else who already has 1 well in the not too distant future.
Those sugarplums are definitely in my head! Not much room up there lately though as we had to put my dad (age 93) in the hospital via ambulance again this morning. We had a rough night last night as it was our turn to take care of him.
It helps to have some positive news. We've heard they were spudding on the well Branch #6 today. Yepeee!
Linda, I am sorry to hear your dad had to be rushed to the hospital again. I remember such times with my mom and grandmother and the hospital staff wanting to throw me out at 10pm. Linda, my prayers are with your dad and with you.
Linda: My heart goes out to you. I went through this with my first wife twelve years ago. Six trips to the hospital in one year. The last one was fatal.
Thanks gentlemen. All prayers appreciated!
Here's the link to read about today's Continental fourth quarter results for 2012,
In the morning is the CR conference call. Find the link on their website and click livecast or something like that and you will need to sign in with your name and email address. I usually put "investor" where it ask for company but I don't really think you have to put anything in there. I believe it's at 9:00am.
I was thinking in the report below the new Giant well I heard about might be in it but I forgot it's only for the fourth quarter of 2012. I guess we'll have to wait until the next quarterly report for that one. Shoot!
I went down south down highway 76 today to the diggins. When I passed the newest Kelly well on Sec. 2 2n,4w Stephens there were the crane looking things that were probably running the coiled cable in the well. This usually comes right before the fracking.
The Vanarkel on Sec. 15 2n,4w there was a man down looking at something but I didn't go on the location because CR might not like it. I don't think they have fracked it yet. I think the temporary wellhead was on it but I don't believe it's the actual "Christmas Tree" that will be put there after it is fracked and put on production. Don't know what they are waiting on. Pretty typical of CR to take their time for such things.