Hi and thanks to anyone answering. We have producing acreage in McClain County, Oklahoma. Section 20, Township 8 North, Range 4 West. Any info on how much of the well remains? I think they started producing 3-4 years ago. Thank you.
There are multiple horizontal wells in that section. Which one are you asking about? Foster wells.
First, I want anyone reading this to know that I’m very new at this Mineral Rights thing. What I can say about what I found regarding your question is that I went to the OCC Well Data Finder webpage and saw that you have 3 or 4 horizontal wells in Section 29, just due south of your 20. From that page I found the 1000, 1001A, and the 1002’s. My next step, if I were you, would be to find the PDU (or production information). I would then upload those files or that data into an AI tool such as ChatGPT and tell it to predict future production based on normal depletion rates.
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Each of the three wells has about half of their Estimated Ultimate Recoverable (EUR) left.
Hi Martha,
I’m unsophisticated enough with oil/gas production not to have known that an estimated recoverable amount info is known and available. My wells are in Coal County, Oklahoma. Where would I find the EUR for mine?
I am using a subscription service. But you can estimate the remaining recoverable using Excel or similar type software. You can take the statements from the last few years and create a spreadsheet that has the gross oil produced and the the gross gas produced every month. Chart them and fit a trend line to them and have it project out. Then you can cum each column.
There is probably a “Decline curve” equation out in cyberspace that can help.
Thanks. I’ve been logging the productions of the 4 wells - gas and gas liquids with only an occasional bit of oil - on a spreadsheet since 2017. It dropped after the first couple years but has actually been relatively steady (on average, though with ups and downs since then). As of the November sales - haven’t logged December yet - it’s down 60% for natural gas and 56% for the liquids since 2017. These are two horizontal drillings with a well opening at each end so I guess 4 well heads. Sometimes one will have declining production but the other will make up for it. But it’s the fact that the overall production has on the whole not declined significantly for the past 6 years or so makes me unsure about how much more is there.
Diane