I have some minerals around 158-99 13-24-25-7 and 158-98-7. One well has been drilled by Petro Hunt. I have noticed in the last three months Petro Hunt has only had one or two rigs drilling. In the past they have had between four or six rigs drilling. I am just wondering if anyone knows why they only have a few rigs drilling.
Jerry:
Looking at the active drilling rig list, I counted over 10 rigs currently drilling for Petro Hunt. These rigs are scattered over several counties but in the past, Petro Hunt has been a major player in Dunn County. Most likely, these rigs which are assigned to Petro Hunt are possibly drilling on a schedule that consists of expiring leases. The leases in your immediate area, if held by Petro Hunt, possibly have expiration dates in the distant future.
Thirty-six sections in a Township and Range which would be 18 1280-acre spacings, two rigs can drill that Township and Range in nine months and hold it by continuing operations/production. It’s a big state, if you have TWO rigs near you, you are being mobbed. That’s how I look at it.