Don’t know where this well is exactly but I’m guessing Garvin Co…We talked to some guys in town today that are fracking a well. They were with Weatherford and were fracking the Ferguson. They said east of the highway but he didn’t know the name of the highway. Vicki is that the well that’s over by the Studdard or ??? Anybody???
Rick, are you in the Guinness Book of World Records yet?
No new cars until cash in hand and the taxes deducted!!
Rick, Thank you for the update on 23-3N-4W. Sorry I didn’t respond to you sooner. Hopefully we will see some return before to long here. My wife and sister-in-law have and interest there. I’ve told them both not to buy a new car yet.
Yeah, I picked up a copy of the Democrat after you posted. Good for you!! I am curious how SL could be in 30 2N3W.
Tom Ed, what sections are they extending in to? Do you know? 19??
Hutch, Thanks!
It is the Williams location. The 1st well came in at 1257 bbls. of light oil.
19 maybe?
Vicki,
SL is in 19. I was thinking about a Grady County well.
I.D. 16-3n-4w
We just received a well proposal for Sec7-3N-4W…any info on this? It was from Marathon. They are already pulling from this section from a well on 18-3N-4W. Is the drilling picking back up?
Reposted From econospeak. Rumors, ifs and buts aside.
Very likely. Reports from November report that the Saudi government has been preparing its budget for the price of oil to be between $45 and $50 per barrel. The price rose during the last two days and fell slightly today, with Brent crude currently sitting at $48.21 amid rumors of the Saudis playing games in the forward markets. They can afford to do so and have the whip hand on what the world price is.
So, folks, this may be it. The Saudis have let the price fall about as far as they want it to, but no further. If the price stabilizes for some time about where it is now, you first heard it here. I am not going to attempt to forecast when it might make another move up from this zone, although the Saudi Minister of Petroleum has been quoted as saying, “Do not expect to see prices above $100 per barrel again,” although that cannot be ruled out in the longer run.
Barkley Rosser
Thanks, Lynden. Any encouraging news at this point is greatly appreciated. I was able to re-lease in 1N 3W a few days ago at the same rate I leased in 2N3W recently, so I found that encouraging as well.
I have a question about Marathon’s recently completed Davis Trust 1-7H in 3N 4W. Is it producing from section 7 or section 18 or both? Any help will be appreciated.
M Barnes,
Thank you very much!
Bill, David Trust Producing out of 7. Was spud at the very north edge of 18. The division order usually has the split if it is a multi unit. You can get the info from the completion report listed below an a great picture is on the last page of the survey report, listed below.
Was out to eat in Pauls Valley last night when a phone rang at the next table over. I wasn’t paying much attention until he got off the phone. Heard him say to the guy with him that “they are shutting down 2 more rigs…that makes 11 for them”. Never heard the name of the company.
Good point. Thanks Ron.
No depth clause, so we are HBP. Marathon is a huge, financially stable company and can afford to take risks that smaller operators will not. It may be that operating costs come down from peak prices established during the boom, and that will help. Thanks for your input, M. Barnes.
My sister received a well proposal letter from Marathon for Sections 30 and 31, 4N, 4W. Anyone else get the letter? We are HBP and can’t participate. The well, if completed, will cost almost $17 million. I’m wondering, given the current oil price, how many b/d will it take to justify completion. Or maybe they’ll wait for a price recovery before drilling.