If your acreage is in the unit associated with this well, you are HBP (Held by Production) and lease is not expired. The fact that you have received a Division Order indicates that this must be the case.
This well was technically completed in January 2015 and has been reporting production to the State since April 2015. The completion and subsequent hook up to pipeline and sales most probably constituted continued operations under your lease (and others) so the expiration date was āoverruledā by these operations.
Wellbore cuts N-S right thru the western quarter of Section 46.
Well has produced over 36 MBO and 473 MMCF in its first thru months of reported production.
Bruce ā hereyago:
NW Culberson County
Well Name: STONE STREET 46 UNIT #3H
[http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...](http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPublicQuery=Y&name=STONE%2BSTREET%2B46%2BUNIT%2B&univDocNo=488635712)
Surface Hole Location: PSL BLK 59 TSP 1 SEC 46
Bottom Hole Location: PSL BLK 59 TSP 2 SEC 3
Unit Size: ~1,342 acres (Chevron being ~1/2)
Lateral Length: ~10,000 feet
Permit Issued 8-26-14
Spud: 11-29-14
Completion: ?-?-?? Later ā Buzz
If anyone can tell me the production numbers for
Stone Street 46 Unit 3H in Culberson County
it would be greatly appreciated. I cannot find anywhere, including the railroad site. I know that it has been producing since April of this year(spudded 11/30/2014).
Anyone have these numbers !!! ???
Posted these numbers a few days ago - located on Tx RRC site under operator in āPendingā category.
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Well has produced over 36 MBO and 473 MMCF in its first thru months of reported production
MBO = 1000 BO
MMBO = 1 million
MMCF = 1 million cubic feet
Steven ā in the energy business āMsā are sometimes quite confusing. When 000, or 000,000 are questioned, turn the discussion into $s, i.e.,
Crude oil, where 36 MBO = 36,000 Bbl x $45/Bbl(say) = $1,620,000
Natgas, where 473 MMcf = 473,000 Mcf x $3/Mcf(say) = $1,419,000
Another point of confusion w/natgas priced on NYMEX in /MMBtu... what is the equivalent price per Mcf? For āmostā practical purposes, /MMBtu = $/Mcf.
Later - Buzz
Is this even possible? A good well only produces 1-2,000 barrels of oil a day(thus,60,000 barrels a month)
So the Stone Street 46 Unit 3H well is yielding both oil ( 36,000 barrels )
and natural gas ( 473 MMcf ) ???
When you state 36 MBO, is this 36 million barrels of oil?
yes - rarely see a well in this area that is 100% one product and nothing on the other. There are also NGLās but no way to see those volumes unless you are royalty owner with check details
Hello I just got a request to survey my land for a pipeline and said they would make an offer for a easement. How much do they usually offer. Is it by the foot.Thanks for your help great info on this board.
Jesse, It depends on size, location, leverage you have, and other factors. Start with the UT Lands Damage Schedule and triple it, as a general rule of thumb.
Take your what youāre getting paid annually and do 3-5x that number to get a simple valuation.
How do I get an up-to-date valuation on my mineral interest? Wells are producing nicely giving the current market environment.
But the upside is mail box money coming in for 20+ years with the probability that somewhere in the future new wells will be drilled on this unit in either this bench on new benches - at higher oil prices
Oh, wellā¦
When I heard that a well was being " spudded" near my land in Nov. 2014, I actually started looking at properties in the Keysā¦
Yeah, right !
GEEā¦,THIS KINDA SUCKS.
I own 21.54 AC in Culberson County and itās being pooled into a extremely large unit of 1343 AC(Stone Street 46 Unit 3h).
Then I canāt really afford an attorney to do mineral right/deed search otherwise Iād check into exact % of mineral rights that I own. The offices at Cimarex swear up and down that I only own 50% mineral rights(a Boulder Royalty, an oil company owns the other 50%). Although my warranty deed of the property clearly states that I own āall interestā.
So, although this well is very productive I am receiving paltry checks ! Iām getting .11 of one percent !! Thatās 10.77 AC (50% of my 21.54 AC) out of 1343 AC which is 4/5ths of 1% (.80). Then I get 3/16ths of that # (.1875 x .80). Then fees works out to " .11 OF ONE PERCENT " !!!
To top it all off, I just received a letter from Chevron that they own 51% of well, Cimarex owns the other 49%. So now Iāll be getting two tiny checks a month ( a few hundred dollars each). Just received Cimarex but first Chevron check still hasnāt come for Septemberās production !
Oil is $42/bbl when just a few years ago, it was flying at well above $100/bbl.
MOTTO: ANYONE THAT THINKS ALL PEOPLE WHO HAVE OIL UNDER THEIR PROPERTY ARE RICH JUST DONāT KNOW ME !!!
I own 37 acres in sec3 block 112 and just got an offer of $300 per acre. Is this what the going rate is. I donāt own the mineral rights. They want to use my land to put a pipeline in. Is this a fair offer . Thanks
http://www.utlands.utsystem.edu/forms/pdfs/rate_damage_schedule.pdf
Look on page 7, find out from them how many rods and diameter, calculate then compare to your offer.