I will keep my ear to the rail. Only have 4.44nma in 15 and the Sinclair.
The Sinclair well goes south. The new wells will go north, so probably will have a different set of names. Just guessing.
Martha, I could use the numbers. I have backed-up paperwork You are a real asset!!
OK, mea culpa here. I was helping someone else a few seconds before this request came in. I must have typed in the wrong township and range when I made the earlier comment about extra wells in 15. I went back and checked to get the OCC numbers for Tom and don’t see anything new for 15-4N-5W where the Sinclair is. Sorry for the goof. Some other section 15 is getting new wells.
On the good side, I just saw an article on Seeking Alpha that CLR and Franco-Nevada are combining resources to form a new subsidiary. Looks like extra capital spending in the SCOOP and STACK in the next three years.
Continental Resources, Franco-Nevada to form Oklahoma minerals business
Continental Resources (NYSE:CLR) says Franco-Nevada (NYSE:FNV) agrees to pay $220M for a stake in a newly-formed minerals subsidiary, and commit to spend up to a combined $125M/year over the next three years to acquire minerals in the SCOOP and STACK plays of Oklahoma.
CLR says it will fund 20% of future mineral acquisitions while being entitled to 25%-50% of total revenues generated by the minerals subsidiary based upon performance relative to certain predetermined targets.
CLR says the areas offer prolific well results, excellent economics, proximity to infrastructure and future upside via stacked hydrocarbon-bearing horizons."
You are amazing! Thanks for your generous help.
Marta, Only a fool would not forgive YOU for your knowledge. Your plate stays full.
Any news yet on the Wilson wells in Section 3 that Newfield is working on? When will those be ready for revenue distribution?
Thanks for the information. Helpful as always.!
Marilyn, what is the complete section, township and range for the Wilson wells?
It’s 3.3.5 Multi-unit horizontal.
Hello, can someone please give me information as to what is going on in Grady County ? My siblings and I inherited mineral rights in
Section 24 township 5 range 7 which my mom leased to Triad in 1993, they have never paid very much, just enough to keep the lease
Going. Now Titan 11 Energy has leased section 19 township 5 range 6. I’m out here in Washington and phone calls are getting me no
Where ! Would appreciate any info, thanks, Joyce Hubbard Kemp
Does anyone know what is going on in sec 10 6 North 7 West
10 6 North 7 West Warwick-Bacchus/ Camino resources just finished consolidating a bunch of cases for a well in section 3 & 10. Looks like a well is pending.
Wilson 3-4-3-3-7H spud 3/24/18 Wilson 3-5-3-34 18H spud 4/30/18 Wilson 3-5-3-34-16H spud 4/10/18 Wilson 3-5-3-34-20H spud 5/22/18 Wilson 3-5-3-34-14H spud 6/1/18 Wilson 3-5-3-34-21H no spud yet In general, a one section well takes about 3-4 months to drill and complete. A two section well takes about 4-5 months to complete. In this case, they may drill all the wells first and then come in at the end to do a zipper frac which will save them $millions. Not sure how many rigs they are using. More would shorten the time some. So ballpark would be about a year or so from now.
Martha: I assume the uptick in telephone offers to buy rights (3N 5W in our case) may be grounded in this recent CLR/FNV agreement. But it’s not clear to me why CLR is so eager to purchase rights they already control and operate via lease. If you already have the whip hand with property that’s HBP and can do basically as you please with it, why reach for your wallet?
I’m betting, Martha, that you can explain this to me!
I have been getting calls as well. I guess they want 100% of the royalties. If CLR has a lot of acreage at 1/5 and 1/4 leases, they would rather buy them at reduced prices and get 100% of the future royalties instead of 75-80% of the royalties. What they have announced to the public is probably not their total development plan. I am hanging onto mine.
I am in 3N-6W do you mind my asking who you have been getting offers from? I leased some of my acreage in 23-3N-6W to Gulfport last year. Just curious who all is offering and how much they are offering to purchase in the area,
Thank you for the reply Martha. I’m assuming that if they “zip” all the wells, the 6 month back interest rule wouldn’t apply. Is this correct?
CLR called me yesterday. Waiting on an email from them.
The back interest only applies after first sales. You have to frac before you can produce, then you can sell. So the first sales date is the key date with respect to the interest.