Just in process of transferring small interest in Carter County. The new generation is gathering information as to hold or sell. Operator is Continental. Anyone know about plans for this well or area?
Welcome to the forum. Parts of Carter County are very hot. We cannot answer the questions unless you give a township and range plus section. If it is operated by Continental, then it depends upon if they have drilled the first well or also the infill wells.
Hope this makes sense. Original oil well was Tract 71 Bumpass 1 Sec 8 T2S-R3W NE/4NE/4
?8 or so years ago their drill deep for gas AxelRod 1-8-5XHW
SEC S-2S-3W (50.30%) SEC 8-2S-3W (49.70%) SEC 5(637.60); SEC 8 (640)
Welcome to the forum.
Continental drilled the first horizontal well in 2020-21. The well is a very good gas well with ultimate recoverable gas of almost 13 BCF. Only about 4 BCF has been recovered so far, so about 2/3 left. They also positioned the well far to the east side of the section where they could come back in and drill additional wells lined up like cigars.
Mach has permits for two horizontal infill wells in the sections to the NW. Continental has permits for an additional set of horizontals to the east of you in 2S-3W and 1S-3W where one section has nine wells. That is occupying their attention at the moment.
No current new permits in your section but this is a long game and gas is looking like a favored product in the next few years. You have a lot of gas yet to produce in the first well with potential for more. You have permits nearby by more than one operator. That reservoir is not going anywhere. My family would hold on. You might want to get the acreage evaluated by a petroleum engineer or just sit back and wait.
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Thanks Martha. Definitely advice worth thinking through. Photo is James Benjamin and Nora Carson about 1917, the farmers that owned the land and mineral rights when first drilled. The young boy in front of them is JB, our grandfather, one of the 9 children they had. Poor dirt farmers that have provided $$$ to their family for decades.
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