I am getting the sense that "Gas" may not be what I thought it was, which is "natural gas." What is the gas from these wells, and how do you calculate the yield and what do you look for in the market to determine price/value.
Most wells in Weld Cty produce both NG and crude at the same time, prices fluxuate daily. You royaly payments will include a per well statement breakdown showing production quanity you are getting paid for and a code of what product it is for.
You need to exercise trust, and I believe the production companies are honest.
What do I look for to find the value of NG and where with oil they measure in barrels, how do they measure NG?
Cubic feet and BTU. Google Natural gas prices to get a ball park.
Wow..........thats not going to make anyone rich.......unless you get a billion BTU's out of a well:) How much.......ballpark, does a well produce?
Not as much as you might think, it varies well to well and is not consistant month to month. One well won't make you much on verticals or directional. Horizonals are a whole new game with much more production for who knows how long..
The well owe are married to is directional, but it is only going in two directions.
Why is it that they are drilling so many directional wells when the horizontals have proven to yield so much more? Also, how much oil does a well have to produce in order for the oil company to keep pumping from it, rather than just shut it down because it is costing them more than it is yielding?