Our first well in northwest Caddo county just started producing (no info yet on production levels), and we recently received a letter stating that they need to drill 4 more wells to access all the minerals in that same section.
Does that mean they might have found oil instead of gas or NGL's?
Not necessarily. It could be any combination of the three. They must like it though if they want to go to infill drilling that quick.
Supposedly the oil rich part of the Woodford is in the easterly part of the play and the western part is dry gas. You should be able to get some test info on it if you ask around.
Along with the gas, anything over 250 bbls a day would be considered a good find. If that is the case, some maps will have to be redrawn in the various players offices.
Thank you Don.
One of my relatives is going to acquire and examine the test info.
Fingers are crossed!
Don Underwood said:
Not necessarily. It could be any combination of the three. They must like it though if they want to go to infill drilling that quick.
Supposedly the oil rich part of the Woodford is in the easterly part of the play and the western part is dry gas. You should be able to get some test info on it if you ask around.
Along with the gas, anything over 250 bbls a day would be considered a good find. If that is the case, some maps will have to be redrawn in the various players offices.
I am pleased to report that there are oil tanks on our first well site.
Having difficulty acquiring test info - guess I will just have to be patient.
I hope that other mineral interest owners in northwest Caddo will benefit from this.
Finally started receiving our royalty checks. Have received 5 months of production, but only for natural gas.
I saw the storage tanks on the well site for oil, so I'm wondering if I will get paid at a later date for that.
Anybody else have an experience like this? Is there a reason they pay me for natural gas, but wait to pay me for the oil production?
Maybe they haven't accumulated enough oil to sell.
I am going to pretend I did not hear that!
Found this on another blog - maybe it is applicable.
Some purchasers of oil also agree to disburse oil royalties directly to
the royalty owners as a part of their agreement with the operator. If a well produces both oil and
gas, a royalty owner may therefore receive checks from two different companies – from the
operator for gas production and from the oil purchaser for oil production.
Michael Hutchison said:
Maybe they haven't accumulated enough oil to sell.
Reed, I wasn't trying to rain on your parade but those tanks hold up to 500bbls. each. Not knowing how much they are producing and whether shipping by truck or pipeline, I was just throwing that out as a possibility. I recently saw some production graphs that had a steady line for gas while the line for oil had some pretty big gaps in it.
No problem. The parade goes on and I will wait patiently for the first check for oil production.
Very happy with the well so far. Whatever we receive for oil I will consider a bonus.
Thank you for your insight.
Reed two ideas you could call the operator of the well and give them you owner number and find out if there is any oil production or call the tax comminson since they have to report all production to this agency because of taxes. if you will give up the legal of the well we can check the OCC website and see if they are reporting test results from the well.
Thank you. I will take that into consideration.