So far I’ve received three of these.
1S-2W
Sec. 29,30,31&32 “Lexington Unit” to commence Q1 2020 - Complete by year end 2024
2S-3W
Sec. 1,2,11&12 “Chelsea Unit” to commence Q1 or Q2 2020 - Complete by year end 2024
Sec. 13,14,23&24 “Seaport Unit” to commence Q1 2020 - Complete by year end 2024
All cite increased recovery, prevent waste, facilitate cost savings and reduce surface disturbances as reasons for unitization and the same being for the common good and will provide substantial economic benefit to both royalty and working interest owners.
All state Continental anticipates drilling an estimated 9 to 17 Horizontal Woodford wells with approximate average lateral length of 9,800’.
All sections are allocated roughly 24% to 25% for each proposed 4 section unit. No mention of per well or project cost is made.
It would appear CLR intends to present these ratifications along with their leasehold to the OCC when it comes time to file development applications. Could this be the solution to warding off potential protesters the OCC?
Frankly, I’ve never seen HZ development purposed in this manner - especially in Carter Co… Can anyone provide an example?