Quote on April 29 "I hope this guy is right because the price of NG could sure use a little GOOD NEWS!
I believe the North American natural gas market is setting up for a significant price spike in just a few months… I certainly don’t expect gas go over $10.00/MMBtu, but a move back to over $3.50/MMBtu would make a lot of upstream gas company stocks look extremely attractive."
Natural gas up to $3.14.
_Natural Gas Futures - Nov 18 (NGX8) _
3.140 +0.046 (+1.49%)
Martha: Sections 26,27 and 35 in 8N 6W. Just got a filing by Midcon for a 640 acre horizontal drilling and spacing unit (whatever that is) in 26. Woodford, Hunton and Mississippian common sources of supply. I suspect that this is the first step. Most of the horizontal wells seem to extend over two sections, not just one as in this case.
If you go back to May 28, there is a nice map of the Springboard project. You are in the township just to the north.
The spacing comes first since they need to set the drainage area, then approval for the well and then pooling usually. I see the pooling case as well.
27 & 34 are held by a Continental well, so they can come back and drill more if they want. Not sure which direction they might go with the 26 well. I think it might go north into 23 if the geology is good since 35 already has half of horizontal in it.
Looks like CLR is now on Row 3 with in the Phase one (springer) with the Martha Unit and the Wheeler Farms Unit. Also looks like they have have decide to “upspace” to 3 springer wells per unit rather than 4 at least in this area.
I thought so too Jake.
But Continental just spudded the 4th Hart well targeting the Springer in 25-7-6.
So maybe they are sticking with 4 Springer wells per unit.
Rick - The Hart and Cash wells are in row 2. The AC WALTERS 3-27-22XHS permit to drill was issued yesterday. They were still installing tanks and other equipment on row one when I was last up there. Coming back from Chickasha last night on hwy 19 I did not notice any bright lights you usually see when they start fracking a well. I did see lots of rig lights in the distance.