Title curative process is underway - things look encouraging. Landman for Marathon has been very open and helpful.
It looks like the “unit” (which I think is the same thing as the proration unit) is 320 acres. However, since they have permits for two wells at the same site - 500’ spacing between them - they seem to be effectively at a spacing of 160 acres per well.
Now that I can navigate the RRC site (thanks again to Mr. McElveen), I can track how many wells are being permitted / drilled at that site.
oldoak said:
First of all, congratulations! You’re in a great spot. I’d focus now on turning the ‘it appears’ to a ‘we definitely own…’
There are way too many factors to guess on any specific timeline if they haven’t scratched the surface yet. I’ve watched Marathon drill half-dozen wells ‘across the street’ from my property in nearby Wilson County. It will take between 6 months and a year for 1st royalty payment if they haven’t done anything yet. Marathon is putting big bucks into their endeavor, and they run a class act! Well spacing is already ‘proven’ at 80 acres (for horizontals) in the area, and they’re even targeting 50 acres or 40 acres. They put the first few in spaced out across the unit, then go back and fill in if the take is good. Access to pipelines to sell the gas is a huge factor (in timelines) - even though gas is cheap now, the wells in this area are gas prolific, and will produce it a long time, so Marathon is planning on grabbing every penny (from what I’ve seen). There is even more gas (rumored) down below at the ‘Pearsal Shale’ - so their plans are long-term. They’ve put in an enormous gas pipeline in our area, and were supposed to be a ‘mainly oil’ area - so they know something but aren’t talking much.