Not sure which option to pick the Racer well. Some are saying they don’t think well will produce much. But have always though taking less up from is best. Does it look promising? Thanks in advance.
Most mineral owners would pick the highest royalty even though it has the lower bonus. Royalties from producing wells from the higher royalty choice over many years usually exceed the one time bonus from a lower royalty choice.
If you have not leased recently, it is wise to get a good oil & gas attorney to review the draft lease as they are rarely in a mineral owner’s favor and require significant edits. If an attorney is not feasible, then waiting for the force pooling and picking the highest royalty option is also a good choice. 0_The Pooling Process in Oklahoma.pdf (340.4 KB)
If it’s being drilled it’s likely a high probability type hole. There is zero room to hide dry holes now. Very competitive. No incentive for dry holes now
Eckard already drilled several other Racer horizontal wells in the sections just to the south so they liked it enough to go ahead and drill this one. Racer 10X15X22X-9N-4W was spud in February.