Hey everyone. We did get our lease finally with Quicksilver and I have been checking the permits. Seems like there are a lot of permits going in (not on our property yet), but I have no idea how any of them are doing and I was curious as I’ve ready various things about the productivity of the region. Is there a way to see how the permitted drills are doing ?
Tami. I would not get your hopes up too much for quick action. A permit is good for 2 years and the first 6 months of production is kept behind closed doors so you wont find any info in that time.
We leased 320 acres in Weld in Sept 2 years ago and still no permits showing for the area. We also leased 160 acres in Morgan 4 months ago which we recieved $1500 an acre at 18% for 5 year no option to extend.
Your best bet at this time is not to think about it. You will stress and spend time on something that is out of your control.
Because production has not turned out like North Dakota wells most drillwers are not jumping into it. The year of 2011 is going to be more cautious and alot of seismic studies are being performed.
Also until infrastructure like piping to get it to market is completed most companys will not begin drilling for production. Some will do test sites to determine if they want to invest in the infrastructure.
I know this is not what anyone wants to hear but because we have been dealing with this for a couple years we have learned how this works.
Also unless your in need of the sign on bonus waiting to sign would of been a better choice. But since your already locked in its time to sudy, study, study, which in the end will NOT net you any more piece of mind because you want money now, not later.
We have completed deals with Quicksilver and Petro-Hunt. We have not checked permits yet. I’ll be back if I can find additional information.
Thanks guys. Good advice Skip. I completely agree. I am a bit fascinated by the process (the geology and politics as much as the finances) so I’ll keep an eye on it, but I won’t count on anything happening and definitely not soon.
It appears as if my reply didn't print due to the fact I lost internet connection. Thank heavens I copied it, so here it is. Forgive me if in fact it did get posted and I just don't see it.
I rarely reply to a discussion that is over a month old, however, I find interesting things - even if they are dated.
I have mineral interests in T6N R91W, and it is getting really busy out there. I have leased my rights since 1987 (?) somewhere around that date. Since then, I have learned so much from researching. Mineral Rights Forum is, as far as I know, the best site - I think so anyway - since I haven't even looked for another one. Why should I? Members are so great and it is a lot of fun to share stories and information.
One of the oil company's projects (which just happens to be located on my lot) is producing. It is in Confidential Status until June 1st - so no news. I don't know if it is producing ten barrels a day or ?? Hopefully, they will hit a reservoir of oil.
Anyway, to my question: I would love to know if anyone knows how I can find out the results of a recent seismic study? I wrote the question in detail in the general discussions. Won't repeat myself here.
Thanks, Pam