I have an ORRI with several producing Woodford wells. The operator is planing to drill the Springer. The WI owner has decided not to participate (at $18/bbl) in the upcoming well(s). Just wondering if my ORRI will be paid by operator for any future production.
JOHN- It depends on when the ORRI was carved out of the WI in relation to the pooling order, assuming there is one. I would still participate in the Springer wells, but that’s me.
At -$37 Oil, will take a long time to recover drilling cost, no matter how prolific the potential production. I hope today’s news will persuade operator to postpone drilling.
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