Thank you M Barnes.
Oil touching on $48 is nice.
Me too!
They do not have to pay you until six months after the first sale month, so that would be October or November. It takes that long to track down the hundreds of owners in the section. Probably not a good idea to bug them until after those months or if your DO is wrong. Good idea to have the contact info though just in case.
Jackie, I donāt know about how quick they are looking to recoup their investment but they will probably use a discounted cash flow model of some sort in which they must make a few assumptions such as price, volume and start date. Basically they will say that $60,000 four years from now is worth $40,000 today. $60,000, five years from now is worth $35,000 today etc. It is very simple to do in excel using the NPV formula. It is all the variables that are well variable including what discount rate to use. The discount rate could be the cost of capital to them or just some hurdle they wish to exceed.
Iām interested to knowā¦folks who purchase mineralsā¦in how many years do they expect to recup their investment? Iāve heard 4 years and Iāve heard 5 years but Iād like to learn what any of you know. For example, if someone offered me $300,000 for my minerals Iād think they expected the investment to pay $60,000 per yearā¦if itās 5 years. Now if the minerals havenāt yet started āpayingā Iād think the investor has some knowledge that the minerals are getting close to being recovered. Any thoughts?
I have a spreadsheet from back in 2012 that lists all of the poolings in the county with section, township and range and amount paid and what part of the section was being pooled. Does anyone remember who put that together for us and if they are still keeping a spreadsheet?
Someone posted this yesterday, and then it disappeared. Iām wondering what this recompletion means and why there isnāt any initial test or purchaser listed. Is this a plugged well now? It is dated sept 8. Iām held by production - used to be a decent well. Any ideas? API No.: 35049232570003 OTC Prod. Unit No.: 049-15501-1 Amended Amend Reason: RE-CLASSIFY - TEMPORARILY ABANDONED Drill Type: STRAIGHT HOLE Well Name: DUTTON 3-16 Location: Operator: GARVIN 16 1N 2W C NW NE NW 2310 FSL 1650 FWL of 1/4 SEC Derrick Elevation: 980 Ground Elevation: 968 CIMAREX ENERGY CO OF COLORADO 202 S CHEYENNE AVE STE 1000 TULSA, OK 74103-3001 3653
I heard they are drilling 6 wells at this time just east of Erin Springs and highway 76 intersection and then back north nearly to the river on Branches place. Their supposed to be drilled from the same pad. Anyone know of these wells?
Vicki, hmmm Iron Star is pooling S2 SE4 3-1N-3W next week. Lots of zones.
Received lease offer from JF for Continental in sections 1 & 3 1N3W. Nice to see offers coming in. Both of these leases expired back around the first of the yr.
Linda, what is the S-T-R? on the 6 wells
8 wells were recompleted and temporarily abandoned in 1N 2W.
The Wertz Trust was spud in August of 2015 in sec 26 4N, 4W and I think it extended into sec 23. That may come up a little shy of the Washita.
Thatās in Garvin Co. of course.
The wells Linda referred to would be in about sec 11 or 12 4N/4W Garvin Co. City of Lindsay sits i sit in sec 10-4N/4W
Donāt know Linda.
Three permits to drill were issued on 8-5-16 for Nayro 1H-11 for the Sycamore depth 8850, Nayro 2H-11 for the Woodford depth 9100, and the Nayro 3H-11 for the Hunton at 9550. Well locations are sec 14, 4N 4W.
I might add that if this location is in the general area Martha Barnes can find the information in question if she is so inclined.
Hi, am back.
From Lindaās description, it might be wells in 23, one mile east is 27, one mile north is 22 and then east to the river into 23. Those are old. Those are NE Purdy Springer and Bridwell wells. The Wertz Trust 1-26-23XH spud in 2015, but I canāt find a completion.
Brand new wells are the three Nayro wells in 11 & 14, three of them have new permits. SL in 14 BHL in 11. Citizen Energy
Whole bunch of vertical SE Bradley A unit wells in April 2015, those are in 7 & 18.
Well Mā¦Iām not sure. I live on Sec. 28 4n 4w and from me it would be about I mile east then north about 1 mile, then east 1/2 mile and back north to the river (which would be about another mile). Clear as mud???