Martha, that article was way too technical for me but the statement below is similar to what the RBN newsletter said : “Condensate, neither fish nor fowl”. In the case of the Poteet and others in the area CLR calls it condensate but gets the same price as light sweet.
Fundamentally, the distinction between “oil” and “condensate” is artificial and arbitrary
Dale…on my check stub here is what it says I was paid for:
G-dry gas- volume was 133.921 $3.869
N-(gal)-133.921 $0.868
O-(BBL)-volume was 1,454 - $102.60 (believe this is condensate)
O-(BBL)-volume was 33 - $102.60 (believe this is oil)
This was also Newfield
You know, seems like my Newfield has had some NGL’s listed in the past so I really don’t know why this time it doesn’t have them listed like that. Maybe that is what the N in mine was suppose to be, ya think?
http://www.naturalhub.com/slweb/defin_oil_and_Natural_Gas.html
Here it is. Everything I’ve learned about this I’ve learned on the forum. Stick with these guys and gals. It informative and sometimes a real “HOOT” lol
Yes, I think that is what you said Hutch. That’s how things get mixed up when it is pasted through several people it usually doesn’t come out the same when someone else tells it. My $102. was what was on my report and it said Sept. 13. So, I guess they may be keeping us a little more than two months behind (that’s the check we received just a couple of days ago).
I think so Linda but are you sure about the quantities of gas and NGLs being the same and shouldn’t there be a comma instead of a period like 133,921mcf. Also 133.921 gal of NGL @ .868 wouldn’t be very much, like a little over $100.
That sounds a lot better, 1.0356 is the btu of the gas, before they removed the NGLs it was more like 1.200. Propane is part of all that “wet stuff” called Natural Gas Liquids. I think you heard someone call it propane but propane is just part of the NGL stream, it will probable be separated out into the different components when it get to the fractionator.
Yep, Hutch, you are right AGAIN! I should have had my other glasses on. Have to have the weaker ones on when I read the computer and the stronger ones on to read those littler numbers (it’s the pits to grow old) lol The G also has a MCF under it (mystery solved) and the amount for that reads 34,233 That sounds better doesn’t it.
Yes, Bob, the Branch 1H-16. It’s the only one we are getting a check on at this time.
My numbers are still wrong! Let me try again.
MCF is 23,233 at $3.869 (but the MCF has a 1.0356 under it???)
N (gal) is 133,921 at $0.868 (So is that propane or all wet stuff?)
Just figured out how I got that other number because I nearly did it again. Had my whole hand one key over when I typed. It’s that darn proof reader again!!! She’s still on vacation. Probably looking for warm country as we’re suppose to have a blizzard coming in Thurs… If you see her down there tell her to get her butt back up here! I’m going to fire myself from keeping books on the business!!! Where’s Bob Berry when I need him???
Signed: Ms. Type-O
I wasn’t blaming this mess on the lack of sleep as I and hubby both fell asleep about 8:30 in our chairs and I woke up after my usual 5 hours. But looks like I need get some more “shut eye” as dad used to call it.
Okay…answer me one more question:
Under the 102.60 in the price column of the O that is condensates and also under the 102.60 in the price column that’s just oil it has a 5. Like this
102.60
5 (except without the space in between that I can't fix.)Linda: those numbers you posted…are they for the Branch 1H-16? IF not, which and what month production? Thanks! Just call me Bob the data hog.
Is anyone aware of action in 7-1N-3W? I just find crickets shivering.
I received a couple of inquires in the last two weeks on the section.
Chris, I’ve seen an increased interest in our rights in 4-1N-3W. NFX is getting ready to put a well in the next section North.
Chris…only horizontal done in 1N-3W was the Balcerak 30-1-3 1H completed 8/18/12 by Chesapeake. BALCERAK%2030-1-3%201H%20CHES%208-18-12.pdf
Received two offers to lease recently:
29-1N-1W - $475 @ 3/16, $375 @ 1/5, $200 @ 22% and $0 @ 1/4 - RedSky for CLR.
7-1N-3W - $2000 @ 3/16, $1200 @ 1/5, $250 @ 1/4 - Jackfork, likely for CLR although they didn’t say.
Chris, good to see they have offered up a few bucks with the 1/4
Any news on the purdy singer area? Or section 17 2N 3W?
Does anyone have an example of a lease clause restricting the lease to specific formations that you would share with me?