Trying to second guess why a large oil and gas company would drill several wells, complete them after a timely fashion, but hold up on reporting and production on them? The area is the extreme S. E. corner of Garfield County, Okahoma.
Energy Company producing several wells in an area, drilling, but holding up on production on them
Sometimes things take time. Are the wells connected to the pipelines? If they are stranded, it may take time to tie them in.
Or, they may be waiting for a processing plant to be built or compressor units.
Are they oil or gas? The price of oil is up, but the price of gas is way down. It is not in your interest to produce gas when the price is real low. You want that stuff to come out of the ground when the price is up.
That is my thoughts one the issue. Good Luck.
The company is Devon, my well was drilled on January 27th, 2014, along with several others, it is a multi-unit and It was down by middle of March. Wasn't fracked until June or later, must have waited for several in the area to frack all together. There was pipeline ran to the well by February, and since pipeline going all over countryside in this very small rural community. It is about 10 or less miles to I-35, and fairly close to Cushing. I have no idea whether it is an oil or gas well. Nothing, everything keeps getting rescheduled with the corporation commission. Awaiting to decide the allocation per unit. But if they are not producing yet, how can this be determined? Time will tell, guess I will just have to trust Devon's expertise!
Uh, I believe that Devon is selling it's operations in Oklahoma and the Texas panhandle to Linn Energy. Linn will finance the deal by selling its operations in the Granite Wash. That tells me that Linn must have a buyer already for the Granite Wash properties.
Next question is who is buying? Why would they buy into a play that others are leaving? What do they know that we and the others don't know?
Google "Devon Asset Sale" and read all about it.
This sort of stuff happens all the time. We have been passed around like an old maid at a barn dance.
Again, good luck.