How much do we get paid for our oil?

Shales Cana Woodford Shale (AKA Anadarko Woodford)
1

Do any of you have a well that produces oil? If so, how much do you get paid for the oil? I am sure we get paid less than the spot price, but I have no idea how much less.

2

Gary, don’t know if this will help. Could not find a recent statement. Found one from Oct 2010 and we got $69 bbl on that one. Don’t know what the spot price was then.

3

Thanks Leon, I found a website that gives prices for past month, and current prices too, and it looks like the average price for Oklahoma Sweet was about $76 in October. So maybe the oil company takes about 10%.

Here is the website I used http://crudeoilpostings.semgroupcorp.com/dailyprice.asp?month=10&year=2010

4

Gary, I just looked at that site and you can check my month. May '11 prices are running in the $90s.

Gary said:

Thanks Leon, I found a website that gives prices for past month, and current prices too, and it looks like the average price for Oklahoma Sweet was about $76 in October. So maybe the oil company takes about 10%.

Here is the website I used http://crudeoilpostings.semgroupcorp.com/dailyprice.asp?month=10&year=2010