Looking like between the Birt, Lowers and Robinson Row 1 Springboard wells now permitted and being drilled, we will soon have a dozen wells completed.
Will the average production from these be a reliable indicator of what the rest of the wells to be drilled will produce?
Is there a way or place to follow when a well is being fracked? Got the permits down, trying to follow along in row 1…
Was that $28K per acre?
George, While the average may be a gauge as to what the other may average, you have to consider a few points. They had a reason to start drilling on the locations. It may have been the percentage of leasehold, or a potential loss of the same. It is possible that they are drilling the ones most likely to produce the best results based on the geological makeup. Further, you never really know if they are testing different bore path techniques or completion techniques either in some of these wells or the future one you have the most interest in. At best it is still a gamble without more data than we will have access to.
Following a well that is being fracked? Not really. Not unless you have contact with someone that may know what is going on. With some subscription databases, we may see “clues” as to what the progress actually is. Like when they report the chemical usage. You may also be able to tell when the rig left the location, but that does not mean a fracturing crew was available and able to start right away. Eyes on the ground is the best way and sometimes there is chatter about what is going on at various coffee shops, restaurants, gas stations, or other locations some of the vendors show up at. Most of the time they don’t even know the well name or the Section, Township, and Range that they are working on. They might know it only as the “Birt” well pad.
From public access data, the issuing of a Production Unit Number (PUN) has always been my first clue that the well was now in operation. These are usually within plus or minus 10 days of the well being completed. After that, the completion report.
Thanks Rick.
Was thinking the Project Springboard was the reason they were drilling in the orderly way they started—row one, row two, then row three… pretty well have proven what is down there with all the drilling already done. Guess just have to wait then till completion notification, then 6 months of production?
George, my guess is with the fanfare of the Springboard announcement, Continental will want to publish, read, promote information as soon as they can. I look for some information on their quarterly earning presentations or industry show and tells this fall. The wells they started drilling in March may be completed and reported on in early August. As they develop the project, they will want to inform the market current wells cost, production rates, changes in EUR and ROR.
Yes, $28k per acre. Force pooled at 25%.
David, that sounds like a pretty good offer.
Continental is up to $35,000 an acre with a 1/4 royalty in 12 6N 6W. Got the offer last week, up from $26,600 a couple of weeks back. At current prices that would require 2,500,000 BO oil to get even before taxes and expenses. Serious offer I would say.
That is an impressive offer. One thing to remember is most of this area is also prospective for additional Woodford wells.
The 8 additional Woodford wells are included in the Springboard concept of “efficient orderly planned drilling” …
IMO if oil stays close to $50, it will happen…
We were offered $34,285.00 an acre in Section 20-7N-6W. Locations being cleared in Section 20 and 21 for wells to be drilled North.
Was that offer for 3/16 or 1/4 interest? ElaineM
1/4
Who made the offer?
Thank you
Williams #6 and #7 7N6W permitted. Moving to Row 2 Woodford?
24 7N 6W and 25 7N 6W, both in Row 2.
Well, Section 24 is north of Section 25, so these two sections are in two different rows if the rows go east and west. If the rows are actually columns going north to south, then it would be in the same column.
Williams #6 25-24-13XHW
Williams #7 24-13XHW