Mineral Steve, thanks for sharing, that’s what I had been waiting for so long, at least it is not a dry hole. ha
Deborah,
According to records, unless they are changed within the next few weeks, it’s supposed to be 2 x 640 for 50% for 22 and 50% for 27. So, just divide the 41 BOPD by 2 = 20 1/2 then divide by 640 times the acres you have. Of course you have to remember that the well may not make the test amount. You will get a little Christmas money. Then figure about half of that amount in 6 months and you will be pretty close to what it will make in a year.
Anything happening close to 8-20N-5W?
Deborah,
The Miss wells in this area are presently on trend to be better than the Woodford producers in this area. We have participated with some smaller interests here in both formations. They can still go uphole and make you a great Miss well.
Glass is always half full right?? 
Have a great day, and congrats on your mailbox money regardless of how much or little it may be. It’s always nice to have a little sunshine in your day so keep your hopes up and you never know what can happen.
Looking for initial production figures for Section 3-24N-4W.
Thanks!
Anyone know anything about Sec 3-20N-4W. Devon has not posted any completion reports yet. Thanks.
Devon was just very slow in posting anything on our well. They do eventually and then I was just a little disappointed. Hang in there.
Chad, I worked for Chesapeake just long enough to know I didn’t want to work there. Bad from the ground up.
@Martha and Virginia: You’re correct about CHK, they’re complete scam artists. I had hoped that after Aubrey got thrown out that Doug Lawler (new CEO) would make them an ethical company, but that hasn’t happened. For example, CHK bought the lease on our 2 gas wells in Texas County (began in the mid 40s) in 1998. I’ve been able to find roughly 10 years worth of stubs, and have figured out that they pay on average a little over 30% less per mcf than what it is sold for. The last check we received (for last month) paid $3.18/mcf. Weird since the lowest gas got last month was about $3.80/mcf. I know I’ve been off the boards for a while now (health stuff), but I’ve been reading how Aubrey McScamer is doing the exact same thing with his new company (AEP). There’s going to be some really upset people in Payne County where AEP has been hitting some massive wells.
Chad,
That is right that CHK pays about one-third of what other companies pay. Then you have three different decimal points on your percentage. One decimal is for Total (French company), one decimal is for Midstream compression Energy, and one for CHK. When CHK got themselves in bad shape, Aubrey made a real deal with Midstream to buy the gas, so people in Texas pay for the gas to be transported in their pipeline at a very large price. Seems RRC doesn’t have any rules regarding that and no one can enforce the rules anyway. There are several lawsuits against CHK in Johnson and Tarrant County right now. The Bass brothers won a big settlement. And another large mineral owner, can’t think of his name, did OK also. I’m hoping everyone will sue and get their fair share. I just heard they paid several mineral dollars to get their name put on an arena in Oklahoma City, probably with money they stole from each of us.
CHK is the second-largest producer of U.S. natural gas, but is the largest if you add AEP. Aubrey left the building but is still in control.
Martha,
What do you mean, Aubrey is still in control? Is it by rules he made and contacts or what? I know the DFW area is 4th place as far as natural gas goes in the U.S., so they are stealing a lot of gas.
Virginia, The grand plan. McClendon is a founding member of America’s Natural Gas Alliance (ANGA), a Washington, D.C.-based trade organization of independent natural gas producers. From ANGA: Increasing the development of our nation’s unconventional sources of gas alone will add more than 1.4 million U.S. jobs by 2035
According to IHS: “Employment related to unconventional oil and gas production in these supply chain industries totaled 524,000 jobs in 2012 and is expected to grow 45 percent to 757,000 jobs in 2025.”
Martha,
Thank you for the information. Guess we may even see McClendon in Washington D.C. in a few years. I do have to admit, he is a smart person. Who else could think of so many creative ways to get people gas and yet be almost legal?
Virginia, he is brilliant, knows oil and gas like the back of his hand, and I can’t keep up. The Chinese have created some pretty amazing geological reports that, even translated, I still can’t read, but Devon, CHK, and AEP understand these reports and paid our minerals for them.
Garfield: SK Plymouth, LLC; Campbell No. 2-14H Well; N1/2 NW1/4 NW1/4 NE1/4 (SL) of 14-24N-04W; 114 barrels oil per day, 494,000 cu-ft gas per day; TD 10,458.
Am estimating an approx. 16% decrease on our royalty check each month for every $10 per barrel price decrease.
Anybody heard any long-term oil price predictions?
Linda, there’s a huge gap in EIA’s High and Low long-term projections (see chart MT-4 pg 88), but T Boone thinks it must stay above $80 and I’ve heard our area can profit above $65.
http://www.eia.gov/forecasts/aeo/
http://www.cnbc.com/id/101930320#
Short term (see Brent Crude Spot Price on chart pg 16)
http://www.eia.gov/forecasts/steo/special/winter/2013_winter_fuels.pdf
Thanks Martha, let’s hope this big drop is temporary. That and production decreases make for smaller checks.
Does anyone know why Devon transferred most of its leases on the east side of Garfield and Noble County to Tiptoe Energy Production US LLC?