I am in Texas..Lavaca county..I think it is the Eagle Ford Shale that they are drilling in!
The easement was already there...it was just not graveled and they need to make the entrance a little bigger for the big trucks!
Virginia Pflum said:
Labrina,
I would sure like to be working with you if I was an oil company. First, they would have replaced any culvert that needed replacing. Second, they usually gravel all the road. I would also ask for a locking gate if you have a house on this property. And on easement, you are usually paid as this will go on the farm title. That is wonderful that you will get that many wells. What county and state did you said this is located?
Michael,
I was refering to what the landman told Labrina that she would be pooled with 7 or 8 wells. I have seen 6 wells drilled from one site, but so far I haven't seen 7-8 wells. I'm sure glad they are drilling my wells on the neighbor farms. Hope they just keep drilling over there.
Labrina,
I was unawre you already had an easement for a road. Then you may have made a good deal.
Michael Hutchison said:
Virginia 7-8 wells....I guess it's too soon to say I told you so! Just Kidding!!
Once again I am very new to this, but if I understood him correctly my land is in two grids...so only about half of my 80 acres will pool in with the first 3-4 wells that they plan on drilling now. They plan to drill 3-4 wells on the other grid that will be on the other part of my land. I could be totally wrong about that so be gentle with your remarks!!! lol j/k
Don't count on any static sum of money from royalties, whatever - your well might start with an initial production of 500 barrels per day, and the state might regulate production to be just 300 barrels or so per month. You won't even have a clue as to what kind of money you will get until you receive your monthly royalty check, and that can vary greatly from month to month.
Labrina, this sounds reasonable to me, the drilling of one set of wells could be soon and the drilling of the others could be delayed. that is basically why I said there was a possibility that not all of you acres would be pooled. Oil and gas can be tricky. Your other acres may be held by production and they would have until the first well/s went dry to drill the others or they could assign (sell the rights to) your undrilled acres to another operator in the future.
Labrina Greenwell said:
Once again I am very new to this, but if I understood him correctly my land is in two grids...so only about half of my 80 acres will pool in with the first 3-4 wells that they plan on drilling now. They plan to drill 3-4 wells on the other grid that will be on the other part of my land. I could be totally wrong about that so be gentle with your remarks!!! lol j/k