http://www.marketwatch.com/story/concho-resources-inc-to-acquire-oi…
Market Watch Article about Concho Resources’ paying $1B Cash for these assets targeting Wolfberry Vertical Wells, Horizontal Wolfcamp, and Horizontal Cline - FYI.
Regards,
Ralpr
Enhanced Oil Resources Press Release about Lateral Drilling for CO2…
FYI - 20-acre infill potential is interesting. Maybe this is the future for CO2 floods?
Regards,
Ralpr
Attention landmen,we have 220 unleased mineral acres in sec.77 block M in Dawson Co…There were 3 producing oil wells here that were plugged in 2002- 2008. The J.A. Richardson # 3 (lease ID# 12761) was shut down Dec.2003 for maint. It produced over 2800 barrels of oil in 2003 but as we inquired about the status of this well in later months and years we were told it had been placed in inventory. Some 4 1/2 years later we filed a complaint against the operator with TRRC and they ordered the well be plugged which was done in Oct. 2008. This well may be a good prospect for re-entering and drilling out the 4 concrete plugs . Someone could get a cheap oil well that would produce 6 to 8 barrels a day maybe .Contact me at johncundieff@yahoo.com or 903-586-1659
DOE sees vast energy potential in residual oil zones (ROZ)
Excellent article by the editors of OGJ - FYI.
Regards,
Ralpr
Apache Corporation (APA) disclosed for investors and shareholders the economics of drilling and completing horizontal oil and gas wells into the Wolfcamp Shale in the Midland Basin area of the Permian Basin.
Apache estimates that horizontal wells drilled and completed into the Wolfcamp Shale will cost an average of $7.7 million and have an estimated ultimate recovery (EUR) of 598,000 barrels of oil equivalent (BOE).
Apache estimates that 91% of the production from these wells will be crude oil or other liquid hydrocarbons and yield and return 44%. The company estimates that it has 971 drilling locations in the Wolfcamp Shale in the Midland Basin.
Apache has spud seven horizontal wells to date into the Wolfcamp Shale and is operating three rigs in Irion County, Texas, as of June 2012.
http://seekingalpha.com/article/782891-approach-resources-ceo-discu…
FYI - A must read about Approach Resource’s Q2 results on SeekingAlpha.com. Northern Midland Basin (ahem, Dawson County) is equivalent to Southern Midland Basin for all intents and purposes (thickness differences, sure, but still!)
Regards,
Ralpr
FYI - It appears that Chesapeake Energy may have sold their producing interests in the Midland Basin to EnerVest.
Regards,
Ralpr
CHK only selling Producing Properties in Midland Basin
FYI - This does not include Non-Producing properties in the Midland Basin. CHK is still mulling their options to produce exclusively or partner up, sell, etc. I’d put my hat on a partnership - given their history. They want oil, so I doubt an outright sale is in the cards. This is my opinion only.
Regards,
Ralpr
Play Analysis and Digital Portfolio of Major Oil Reservoirs in the …
Howdy, This reference is like finding Antique, Mint-condition, Baseball and Football Cards in the Attic - except better!
Joy,
Ralpr
http://www.chk.com/news/articles/Pages/1734237.aspx
FYI - Chesapeake keeping undeveloped, non producing acreage ~470,000 Net Mineral Acres in Midland Basin for either selling or developing later. Hopefully this is good news.
Regards,
Ralpr
http://wtaq.com/news/articles/2012/nov/29/shell-sees-big-boost-from…
Shell purchase of Cheseapeake’s remaining acreage in Dawson County? We need more info!
Ralpr
SandRidge to Sell Permian Basin Oil Assets for $2.6 Billion By Mike Lee December 19, 2012 6:15 PM EST Facebook Twitter LinkedIn Queue SandRidge Energy Inc. (SD), the energy producer that has been fighting shareholder calls to break up the company, agreed to sell assets in the Permian Basin to Sheridan Production Partners II for $2.6 billion. Sheridan, a closely-held producer based in Houston, will pay cash, SandRidge said today in a news release. SandRidge, based in Oklahoma City, produces about 24,500 barrels of oil equivalent a day from 225,000 acres in the Permian’s Central Basin Platform. The sale price exceeds an estimate from John Gerdes, a Canaccord Genuity analyst based in Houston who said in a Dec. 17 note to clients that the acreage might fetch $2.5 billion. “The sale of the Permian assets at this time has allowed us to capitalize on current strong valuations for mature, conventional Permian assets,” SandRidge Chief Executive Officer Tom Ward said in the statement. The transaction is expected to close in the first quarter of 2013. SandRidge will use the proceeds to pay debt and fund drilling at its Mississippian Lime fields in Oklahoma and Kansas, according to the statement. The deal makes SandRidge “more of a bet on the Horizontal Mississippian,” said Jason Wangler, an analyst at Wunderlich Securities Inc. in San Francisco. “If that play works, so does SandRidge,” he said. Wangler rates SandRidge a buy and doesn’t own any of its shares. SandRidge announced the sale after the close of regular trading in New York. SandRidge rose 8.8 percent to $7.07 in late trading after closing at $6.50 in New York. SandRidge’s managers believe “all shareholders should conclude that this is a great outcome for them,” Greg Dewey, a spokesman, said in response to e-mailed questions. “We are simply doing what we said we would do, staying true to our brand and doing things quickly and efficiently and once again making a move that creates tremendous value for the Company and its shareholders.” SandRidge shares have fallen this year as shareholders including TPG-Axon Capital Management LP and Mount Kellett Capital Management LP call for the company to put itself up for sale. TPG-Axon, the hedge fund run by former Goldman Sachs (GS) banker Dinakar Singh, has called for a shareholder vote on replacing SandRidge’s board of directors. TPG owns 6.5 percent of SandRidge, and Mount Kellett owns 4.5 percent, according to data compiled by Bloomberg. SandRidge should avoid “any hasty strategic actions, such as the precipitous sale of the Permian assets,” until a new board can be seated, Mount Kellett Chief Operating Officer Jonathan Fiorello said in a Nov. 15 letter. He estimated the Permian acreage may be worth $4 billion. Wangler said the sale may help SandRidge win over shareholders, since it will allow the company to reduce its debt. Other analysts have criticized the sale because it would increase SandRidge’s reliance on lower-profit natural gas. “Regrettably, a Permian sale does not improve SandRidge’s long-term financial standing,” Gerdes wrote in his note. Selling the assets at $2.5 billion would have funded the company through through 2014, and SandRidge would outspend its cash flow by $1.2 bilion a year from 2014 to 2017, Gerdes wrote. He said in an interview he hasn’t had time to review his calculations based on SandRidge’s higher sales price. To contact the reporter on this story: Mike Lee in Dallas at mlee326@bloomberg.net To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net
Google (do an internet search) on Southern Midland Basin Wolfcamp Shale
Enjoy,
Ralpr
Lamesa Press Reporter article on drilling permits in Dawson Co.
Hi, The drilling permits North of Lamesa at ~8,000 foot depths as vertical wells are targeting the expanding Powe Oil Field (Spraberry Formation). The Powe Oil Field has expanded by miles to the East and North of Lamesa - it started Northwest of Lamesa @3 miles or so.
I checked with a contact at the UT-Bureau of Economic Geology (BEG) and he had no info. about the Powe Oil Field.This information is a little more color on the permit approvals provided by Mr. Liles recently. It is about time that the Spraberry is defined more and proven -in Dawson Co. - according to current maps used by BEG for the Spraberry Formation - there is a lack of inclusion in the Spraberry Play - FYI.
As for the area SE of Lamesa with the new drilling permit - I haven’t seen the drilling permit yet. But it’s being drilled by Fasken - see article, so it should be very interesting to say the least/!
Cheers,
Ralpr
Ralpr
katq, Welcome to the Mineral Rights Forum - you will be educated about a host of issues by accessing this website. Yea, your 300-Acre mineral rights interest are in a good area for oil, natural gas, and natural gas liquids (NGLs). Dawson County, the whole county, is a good place for oil, natural gas, and NGLs. Congratulations! Since you know the legal description and all that, presumably your mineral rights are leased by an oil company? Regards, Ralpr
How do I pull up information on the well they are currently drilling? An update by the landman this morning puts the drilling at 3, 079 feet. She will provide another update on Friday, but I thought it would be interesting to try and pull up the permit approved to drill. From what she said, they are going to drill to 1,100.
I don’t have a clue what all this means. I am a newbie and need some information. We share mineral interest of about 300 acres in Dawson county. Loving county school lands, Loveless Subdivision League 271, Northeast Labor 19, Northwest Labor 19, North Labor 20. Are these good areas for oil?
sorry, 11,100 - missed a one.