Linda, In Springfield, Missouri today.
Currently im doing everything from my Android mobile phones lol
Boy, those numbers are certainly not encouraging, Rick, since his checks are starting out about what ours did on the Branch well #1. It did go down from making about 450 bbls. of oil to only making about 50 and then they fraced it again and said the fracing didnāt work well but with the gas it makes our last check was about $1000. If it goes down to about $250. in 24 months or so we better not quit our day job~oh, wait, we donāt have day jobs or night ones either come to think of it. Unless you call Prestonās one 30 min. safety meeting a month a job. lol Weāll be alright whatever happens. The Lord told us so!
Mike Ford, is that $1500 per acre in Section 9?
Spent Christmas at Christine Fergusonās home in Purdy and watched the methane flare.
Thank you all so much for the information and the welcomingness that youāve given I do appreciate it thank you Linda , Chris and Rick. Linda the section is 20-3N-4W thatās about all I know and Iām looking for the lease agreement which should have what I need to know
Yes, Steven, your well is named the āLang 1-20Hā and I just passed it yesterday. I believe I have a picture of it and as M Barnes said itās one of the best wells in the area. There are wells all up and down that same road and so Iām pretty sure you will eventually get some more wells but Continental is not as quick to drill more than one well on a section yet as some of the other companies. They have started drilling more than one well to a section now around the SCOOP so yourās should be a good piece of minerals to own or sell. If you get any offers why donāt you tell some of these people on here what it is and they can probably tell you if itās a good offer or not but if you donāt absolutely have to have the money right now I suggest you keep it and draw your checks for now.
Steven, a copy of your lease is attached (recent ones are easy to look-up on okcountyrecords.com).
Garvin%20%28watermarked%29%20-%20Book%20002002%2C%20Page%200314-031ā¦
Hereās the Lang well, I believe. I took so many that day and couldnāt get the signs in the same picture and I got them confused. If I can find the sign I will post.
Steven,
Taking the production numbers on the well and applying the decline curve I expect, this is what they will look like over 24 and 48 months. This chart is all oil numbers, but the declines should be able the same. If the price of oil and gas stay the same as it is today, I would expect your check in 18 months to be about $250.
I think your first check was for 5 months. The next two for 1 month each.
I predict subsequent wells, but I think you are at least 3-5 years out. Iāve only seen 1 application for a second well with CLR that was not tying up a second open section. I think they will continue to try to gain and hold leasehold for at least a couple of years. Current leasing is supporting that theory so far.
You could certainly be right with that tight shale. Some day they may have a way to frac into more of it but it may not be in our lifetime. I am encouraged that they said they are lasting longer even at a way down figure.
One of my daughter in laws was talking to the other daughter in law about whether she might want to run with her in some marathon (donāt know if in OKC or Tulsa or ???) and she said Iāll have to start back getting in shape. Knowing her she never gets too far out of shape.
Hope everyone had a blessed merry Christmas! For starters I wanted to ask after the very first payment from continental resources which was a nice lump sum from there payments have lower since I donāt believe that this is a normal or a good signā¦ What should I do??
Stevenā¦I guess I didnāt catch what the description of your mineral interest is. Do you know what the Section, Township and Range on it is? On your papers it would say something like Sec. 20, 3n,4w or Sec. 9, 2n,3w. Is there anything that looks like that? If you can tell us what it says like that we might can tell you the name of your well and how it is doing.
What Rick is saying is that it is normal for you to get the big check to start with because itās for the first 4 months that the well made anything. Then every other check will be for one month and they may go up and down for a while but usually go down a little each month according to the price of oil and gas that month and the amount they sale. Then after a while they will level off and pay you about the same for several years. You may not need to hire an attorney if you are getting your checks now and remember that anytime you do hire one that they will get part of your money. Some of the people on here may be able to help you understand what you need to know without hiring an attorney. Since your well came in as good as it did they may decide to drill more of them and that will help you get more money to live on while you are unemployed. Donāt be afraid to ask questions and donāt feel like you are alone in this deal because we will all try to help you as much as we can. Best Wishes!
Stevenā¦You may not be well educated in some things but if you can upload your forms on the computer you are certainly smarter about some things than a lot of people, me included. Hang in there. Everything will be all right! Like Rick said, accept his friend request and put your paperwork on the private line and not on here. It will be better for you to do that.
Steven, you have part of the Lang 1-20H in 20-3N-4W. It is one of the top twenty producers in the SCOOP on my list, so that is good. CLR has it which means that they will probably eventually get around to drilling 4-6 more wells in the block, but it wonāt be real quickly since they are trying to drill the first well in each section that they hold by leasing.
Davidā¦whatās the name of the well on 18?
Linda, do you have any pics of the well on 18 -3n-4w? Curious to whatās happening there.
Rickā¦you really are a world traveler. You must really love to do those marathons. Who would I talk to about getting them to have a trashathon so those runners would pick up trash along the roadsides as they go? Iād furnish the bags! lol
Linda, itās the Davis Trust.