Any way to find out how a well is measuring up? I have average production numbers for the first three weeks but not sure if it’s average, above, or below. Is there a chart or website?
Three weeks is not long enough to determine how good a well will be. If it is a horizontal well, it will be flowing back frac water for a while. Six months to a year of production are more indicative.
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Thanks… I appreciate the information.
Average, above or below is dependent upon the reservoir, length of perforations, etc. One would compare it to wells of similar style.
So sit back, wait and see. Certainly can’t change it and lucky to have it. Thank you.
I was told a “Great” production value for a 640-acre Section in Loving or Reeves County would be $200 million, or, at $50/barrel 4,000,000 barrels, if generated by 4 wells, would be 1,000,000 barrels per well. Is this a realistic measure to use when evaluating the value of a 1% overriding royalty (ORRI)?
What would be a “good” production value - $100 million? which is 500,000 barrels per well?