I have a new 5 well pad located T1N BLK 34 SEC 11 A-388 I havent recvd my 1st check yet but I know it will be soon as 1st sales were 4/13. This is my 1st rodeo so to speak & this forum has been my life line for info and education Thank you!! In trying to figure out how long this income will last & to what degree I am LOST!!! I understand it’s a guessing game but how can you make any financial plans? Is there a typical decline rate? Will it even be worth it in a year? Are these wells normally profitable for a few years?
any checks yet I haveseen that average new well produces 500 bbls a day with a 5% decline a year
My husband has received checks from horizontal wells going on 3 yrs now. Not too good at telling output, I’m learning about that. Trying to find a good software system to keep up with that. Anyone have ideas???
I had about a 28% decline b/w the 1st & 2nd complete month
“God bless you and keep you, God smile on you and gift you, God look you full in the face and make you prosper.”
In our area, we have also noticed a steady decline in checks. I reached out to the company and they said it was normal. It’s so frustrating bc you can’t predict anything, or rely on it because you never know what it’s going to be!
There are 8 wells drilled in my section and each check I have received since the first full check in March has decreased by half. Not what I was told by the owner/operator that would happen. He said it would be down by half after two years and then slowly decline. Very disappointing since I had multiple high offers to buy my minerals which, at this rate, would have been more financially feasible. Not sure I’m trusting the oil co. Since I’ve also found out they have restructured the company. Trying to find a oil and gas attorney in the area to check it all out.
I expected the 1st big decline but praying it slows down after that!!! I will know in Sept! Who are you with? I have SM energy so far they have been very honest & helpful but have just started the journey.
Our first check was in April and we’ve noticed a slight decline since, except the most recent month was almost half as previous. Very frustrating. I’ve emailed them several times with questions, and the person I spoke with was nothing but kind and helpful, however, you just never know what the real story is. We are with legacy, which I believe also just restructured. But I am not totally sure on that.
Are you with legacy? This all sounds extremely familiar.
You all need to make an effort to educate yourselves about these issues instead of just flying blind.
These oil companies are required to report the production and disposition totals by field monthly to the TRRC . The information is available on their website if you just learn a few basics about how to access it. Their is also an organization called NARO (National Association of Royalty Owners), which has very useful education programs for members based on the state they are in. Dealing in the rumors and gossip on this forum won't help your cause much.
Joe H. Smith
I have made the effort & have my glasses on. TRC is great along with NARO. This forum has been my life line as most are extremely helpful & knowledgeable!! It is always good to know others experiences & get their opinions.
Thank you, I have made the effort to educate myself on the company and reading their monthly reports. Each month, I take the time to look over the production, but on the most recent one, I noticed a discrepancy with one of the wells. In the report, there was no indication why, hence contacting the company itself, which as I stated, was helpful in their explanation. I am new to this, and trying to learn as I go, and just not following “blindly.” I look to this forum for individuals to help with information and provide similar experiences.