Anyone run into Avalon Oil and Gas III, LLC?
Barecat just called me Oct.22, fishing for info. and wanting to know if i was interested in leasing from sec. 29 Carter Co. Anyone got any comments for me?
Anyone know of any activity in Sections 9, 25 and 27 in 4S, 2E or Section 22, 5S, 2W? Thanks in advance - I’ve always had trouble figuring how to look this stuff up.
Horizontal well in 9 from 2013 by XTO, a bit of leasing in 27 4S2E
Bit of leasing in 22 back in 2013 5S-2W pretty quiet
As a greenhorne i’m trying to understand the ‘mineral rights’ jargen. Maybe someone can help me. If you own 1/2 share mineral rights of say 100 ac. and one of these land co. wants to lease your rights. Does the agreement you make personally with them all go to you or is it split 50/50 or however the other 1/2 share is split? And if they say they would pay so much per acre. Is that what the amount would be for the full term of the lease? Like a 'one time payment"? or is it per quarter??? or what? What is the difference between leasing and pooling? What is 1/8, 3/16 all about?? And royalties how do they figure in?
Sheri, friend me (hit the blue picture and follow directions) and I will walk you through it. You can only lease your share, the other 50 has to lease under their name. One time bonus payment up front. I can explain all the rest. If this is your first time, don’t sign anything until we chat. You can get a much better deal if you get informed first.
Thanks for responding - I’m wondering what are some opinions from this group about approaching companies about potentially leasing property - good idea, or best to wait until they come to you?
Shirl- I leased with Recon RResouces last Oct in2014 for $ 750 per AC- in sect 29 & 30 at 20% royalty. with a standard lease and attached exhbit A. good luck. Sid
John, That’s very interesting. I didn’t know you could frack while drilling nearby wells. That definitely makes the process faster than I thought. I have a small mineral interest in section 10 and have enjoyed following your comments. We live in Denton, Texas and could drive up there if there is a way to get more information. Sounds like you have some good sources. Thanks very much for the info. Lawrence Staples
That’s really wonderful news and we appreciate your sharing it. You’re right. The creativity of the exploration companies in finding better and more efficient ways is truly amazing. The developments you mention really do support the old saw that necessity is the mother of invention. Please keep bringing news that you feel you can share.
Thanks, John. Very interesting. I didn’t know how that worked. That may explain some royalties I’ve lost for a month or so when I didn’t know competitors were fracking nearby.
After XTO completed the first two Page wells, I noticed on the OCC site that they applied for increased allowables. Am I correct in thinking the results of the first two wells made them think their earlier estimates for the potential were too low? I’ve definitely got my fingers crossed both on the price and volume front.
I know there are many variables that affect it but wondered if you would have a very rough idea of when the 5 new Page wells might be completed?
Thanks again, John.I realize i was misinterpreting the meaning of the application for increased allowables. It sounds like the application was based more on “hoped for” rather than any actual results. The good result on the east offset wells sounds encouraging but I am aware how results can vary widely from section to section and even well to well in the same section. As I recall, they have six months after completion before they have to file completion reports.Again, many thanks.
XTO has some very good results in the east offset wells. We will have to see about the Page wells. Not sure they can tell much until stimulation is completed and we get test results.
John, that’s really interesting. I was still trapped in the old idea that it took only roughly 8 horizontals to drain the Woodford in each section. I don’t think I’ve ever seen anything about the thickness of the Woodford in Section 10. But I think the Caney is just above it and that BNK has gotten some pretty good results for oil in the Caney. Do you think they might eventually drill greater density wells in our section as they are doing in Kingfisher? I have noticed that Newfield has hit some 1000+ barrel wells in Kingfisher. Is that due to the richness of the formation there, their drilling techiques or to the concept of density and stacking you mentioned?
Thanks again, John. I took a look at some Newfield presentations and they are reporting impressive results. Especially impressive is their report of drilling time for 10,00 foot lateral to be 12 days from spud to TD. Those stack plays give the feeling we’ll never run out of good places to drill. And the 2875 bopd you report from the Springer sounds awesome. We can only hope that some of that super good stuff drifts down our way to eastern Carter County. I did notice a few months ago that xto hit some pretty big wells close by in Johnston county. In section 8, 4s4e, four wells got from 600 to 900 barrels per day initial production of oil. It’s an exciting time even when you reach 83 like me.
Lawrence, I think they are in meramac up there and it is 400-500 ft thick vertically. The Woodford is over 200’ in the SCOOP with the Springer sands immediately above. We are in one section with 10 wells in Woodford. In Adjacent section, we have six Woodford wells and one in Springer. Springer well initial production rate was 2875 bopd.
Thanks for the info. Sounds like good news, although I suspect those wells may not be profitable at today’s prices unless the wells are extremely productive. With the continuing sharp drop in rig count, I keep thinking supply will eventually decline to a point where prices will have to go up. But I thought we would have reached that point 6 months ago.A friend in Carter county mentioned he saw 3 rigs within a mile of each other, the Page rig and one each in sections 14 and 11. I think they are in the process of drilling 16 wells in 3 contiguous sections. Pretty amazing. I wonder where the Page rig will go next. They have 11 more wells to drill in that area and i would think two rigs would be enough.
It would help if the to total legal description were included in the comments . Jim Gigouc
All the sections I mentioned below are in 4s3e, Carter County,ok
Here is the map of the Page well locations.