does anybody know when we can expect any royalites from Penn Verginia On Pilsner 1H
thank you.
Hi, Cynthia -
The Mineral Rights Forum is used by people from all over the country and Penn Virginia is active all over the place.
If you could narrow down for me what State and County the Well you are asking about is located, I might be able to help you.
Anything you have as to the legal description of the land your mineral interest is in would help as well.
Hope this helps -
Charles
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
lavaca co pilsner 1h texas thankyou charles
Holy Completions, Batgirl!
The Pilsner Hunder No 1H was completed 6/3/2013. When it was tested on 6/11/2013, it's Initial Potential figures were 1,917.0 Barrels of Oil Per Day (BOPD) and 1,645.0 Thousand Cubic Feet a Day (MCFD) ["M" being the roman numeral for Thousand.]
The wells in your area drop off fairly steeply for the first few months, but level off to a nice, healthy production level, but even so - that's one of the highest Initial Potentials I've seen in the Eagle Ford and they aready have 4 more wells permitted!
If you will notice on the Unit Plat that is part of the Permit for the No 5H, they have jumped from the No 1H to the No 5H, skipping over the three in the middle for now. And if you will notice on the Well Events History for the No 5H, they reached Production Interval on the 12th, so they will probably begin completion efforts in the next number of weeks.
In answer to your question, it could be be anywhere from several weeks to several months before you see a first check. Lots of paperwork to get done before they can send out checks.
It will probably be one Doozy of a check (the first one), because it will probably be for two or three months worth of production, and that the first "flush" production before the well settles.
But they have to build a pipeline or feeder line to the pipeline to get the gas to market before they can really open the wells up. Probably flare off the gas so they can produce the oil in the interim.
The link below should allow you to download what I was able to discover about the Unit on DrillingInfo.
Link: http://www.hightail.com/download/bWJyV0p3T01veE1YRHRVag
If you can tell me which tract your interest is in (see the permit map) and what your interest is in the tract, I can - to a degree - calculate what you can expect to make, moneywise. Explain the formula to you, anyway.
Congratulations on your new born baby Well!
Don't forget that every dollar of your royalties you spend, you will owe taxes on...
Hope this helps -
Charles