I think that’s very good advice Darla! Remember that “All Good Things Come From God”. We are indeed blessed!!! I’m praying for the wisdom to use it wisely.
Linda, God said “Send it to Hutch” !
Map says it is close to E1600 Rd and E1590 and N3010 Rd. Does that help anyone? Turn on the Hybrid toggle and you can see your farms. This is cool!! I see why 76 just to the East of it.
Good information Ms Barns. Will look for an update later since 155 went down over the weekend. Thank you.
Folks, here is the (revised yet again) spreadsheet I put together to do quick calculations of royalty payments. You plug in your particular information in the yellow boxes. You can compare with bonus, without bonus, sell of acres, change price, change spacing, change acres, etc. This is just for estimating, so don’t take the numbers as concrete.
This is for the horizontal Woodford for only 4 years, so don’t forget, wells can go for 20-30 years. The reason I put in multiple wells is that many counties are seeing multiple wells within a spacing unit. You only get the bonus once, but the royalties are for every well. This is a long term game, so comparing for just the first year can fool you. Make a wise choice the first time. Other reservoirs will have different decline rates. Vertical wells will have different decline rates. As techniques improve, the decline rate will change as well.
Our accountant makes us take out the 22% depletion rate upfront if we get a bonus. You can put zero there if you don’t like that.
When I get offers to sell, I always throw them away, but it is fun to see what they are really offering.
If you find an error in my math, let me know. I am always tweaking this to suit my objectives for the moment. NMACalculationsimple.xls
M Barnes…I guess I’m not holding my mouth right as my mom used to say. I can’t get the spreadsheet in the middle of the page so I can just see the left 2/3 of it and don’t have any way to move it over. What am I doing wrong?
Hello everyone. I got good news this morning from Continental Resources. I spoke to a woman named Barbara Stone an she told me the check is in the mail next week as she read off the payout. So, yeah, after wondering the outcome, it’s here sooner than I know it. WHOA!
http://www.occpermit.com/WellBrowse/Webforms/WellInformation.aspx?I…
Not sure if that is the Cactus Rig, but it is the Gregory 4H-28
http://www.occpermit.com/WellBrowse/Webforms/WellInformation.aspx?I… Gregory 5H-28
Yes, spud date is the drilling start date. Strange words in the oil patch.
Grergory…I LOVE HAPPY ENDINGS!!!
Martha,Richard,
I don’t know mucch about these things,but,Cactus rigs 154 & 155 seem to both be located on s-28 3n4w,according to the very fine “Cactus drilling” website Martha made available a few days ago.
Based upon the spud reports, must be the Gregory 4H & 5H. Not sure which one is which. Could probably figure it out from the well permits matched to the Cactus drilling site. If someone is desperate, I can do it.
You really got some good pictures Barbara!
Cactus Rig 155 was spud in Aug. 5th and Rig was taken down Oct. 12th and 13th. I hoped it would be left there to drill another Gregory well, there being 5 in all to be drilled. I checked the 23rd and it had not gone back up in that area so guess it doesn’t matter to me where it is now.
Cactus Rig 154 is still drilling 1 of the other Gregory wells on Sec. 28 3N/4W and has been since latter part of Aug. I thank you for the info.
A beautiful site in Oklahoma
Does spud date = drilling start date and does anyone have a (spud) or
(start) date for Cactus Rig 154 drilling Sec. 28 - 3N/4W?
Congrats Richard and Jason (Mr. and Ms.) sounds like things are looking up for the “Home Team”!!!
I have minerals in section 17 2N 3W and section 7 3N 3W in Garvin county. Does anyone know of any activity or thoughts on future drilling? Appreciate any feedback. Thanks
Karla, there is a rig in sec 17 2N 3W currently drilling, however, the surface location is in 17 but the well is horizontal running south through sec’s 20 & 29, with perforations in 20 & 29 only, so mineral owners in 17 won’t share in the payout of that well. I personally think there will be other wells in 17 in the future (or at least involving 17), but that is only my uneducated guess with a little wishful thinking thrown in for good measure. I have no knowledge of anything in 3N 3W.
Garvin: Newfield Expl Midcontinent Inc.; Sublette No. 1H-22 Well; NW1/4 NE1/4 NE1/4 NE1/4 (BHL) of 22-03N-04W; 509 barrels oil per day, 2,375,000 cu-ft gas per day; TD 18,560
Karla,
I’d say you should see something happening with section 17 2N 3W in the next year or two if the other wells are decent producers. 7 3N 3W seems to be tied up by minimal producing wells owned by CHK. That may be part of the issue, but is it also a bit north of the primary plays we are currently seeing.