Great listen, thank you! 400 million barrels of oil in place per section and basically no more verticals.
Clayton Williams gives an astounding number for oil in place in Reeves. If you have any questions about the transcript I recommend listening to the webcast posted on Clayton Williams Energy website. Hereâs hoping all the companies can find the money or partnership to drill those wells. Oh, and thanks Claytie. http://seekingalpha.com/article/1771782-claytons-ceo-discusses-q3-2âŚ
Sarah â thanks for the heads-up! For anyone interested in central and southern Reeves, you MUST listen to the entire one-hour third quarter earnings conference call webcast!
To access the CC: http://www.claytonwilliams.com/ir.html
(in upper right corner, click âQ3 2013 Results Conference Callâ)
You might follow along on the transcript, but it is lacking and does not make clear the entire story⌠Claytie-speak is sometimes hard to follow.
http://seekingalpha.com/article/1771782-claytons-ceo-discusses-q3-2âŚ
Later â Buzz
No wonder lease bonuses are sky rocketing. I think that many areas will see a base of $3K per acre and up from now onâŚespecially north west of Pecos.
Just took a look at EOG two new permits on Harrison Ranch. FYI, they are now drilling 6 wells in parallel from three pads âacross the fenceâ. In other words they have the surface locations on the adjacent tract and drill down vertically then bend toward the pay (Wolfcamp) and are in the zone as close to the lease line as is allowed. The laterals range from 350â-400â apart.
Interesting commentsâŚthanks to all and Buzz for the BHP sell article. Been out of town so just catching up. I see the map of the sell and see some Reeves county involved so how could those of you determine your leases werenât involved? I couldnât scroll down enough to see, but it seems that you folks with NW of Pecos BHP leases arenât concerned?
Yes, I too would be curious to see a more detailed map. According to the Delaware Basin area to sell, our Block 58 Sec. 15 and 16 look to be on the edge. We are about 12 miles North of Toyah. Based upon past experiences with these two sections we did not know the lease was sold until our gas check had a new company/bank heading.
We are Block 4 Section 64.
Energen News Release
Four New Wolfcamp A Wells Generate Exciting Rates
[http://ir.energen.com/phoenix.zhtml?c=94826&p=irol-newsArticle&...](http://ir.energen.com/phoenix.zhtml?c=94826&p=irol-newsArticle&ID=1870042&highlight)=
Later â Buzz
==> ⌠what does 1,671 boepd mean based on 61% oil? <==
L.L. â âŚ
Well
County
Target
Zone
Lateral
length
Stimulation/
Frac Stages
Peak 24-Hour IP
Peak 30-day Average
Boepd
Oil
(Bopd)
NGL
(Bpd)
Gas
(Mcfd)
Boepd
Oil
(Bopd)
NGL
(Bpd)
Gas
(Mcfd)
Bodacious
C7-19 #1H
Reeves
A
4,500â
Slick water/
19
2,229
1,375
458
2,375
1,671
1,015
352
1,824
â1,671 boepdâ [barrels of oil equivalent per day] is âmade up ofâ or equivalent toâ {on a heat content or Btu basis} to 1,015 bbl/d of crude oil + 352 bbl/d of natural gas liquids (NGLs) + 1,824 Mcf/d of natgas. Using commonly-accepted Btu/bbl conversion factors for NGLs and natgas, the aim is to convert the 3 products into a single unit that everyone can ârelate toâ, i.e., barrels of oil equivalent per day (boepd). Itâs obvious that price per unit should somehow enter into the equation⌠but it does not! E.g., in todayâs price environment, âis a 1,671 boepd equivalent on the Bodacious well equivalent price-wise to a straight 1,671 boepdâ⌠NO WAY!!! Later â Buzz
The IP is not near as relevant as the IP30, meaning what the well is actually producing at the end of the initial 30 day period.
A portion of my response was cropped⌠try this:
Later â Buzz
Is having a well 9.5 miles north of the Bodacious anything to be excited about?
IâM STILL LOOKING FOR BLK. 51, SEC 8. IN REEVES CO. I DONâT HAVE AN ABSTRACT NO. DOES ANYONE HAVE ANYTHING CLOSE TO THIS OR KNOW WHERE IT IS? THANKS.
We have undivided 1/4 interest in 120 acres (surface & minerals) A- 5829, Blk 55-5 Section 14 T& PTY RR. About 12 miles west of Pecos on Hwy 2118. Any activity there ?
need to know your survey name too Linton. Like H&GN or T&P or PSLâŚ
block and section number donât get you anywhere unfortunately
In the for what itâs worth, I believe 55/4 is highly, repeatâŚHIGHLY prospective for the Wolfcamp now! Good luck.
@Larry Kelly, last year I got real excited about the Blk 55, it was called Morning Star and I thought they were drilling on mine. Unfortunately, it was on Blk 55 township 5, and mine is township 4. Hope you can take advantage of Wadeâs information, it is so helpful. Good luck.
are we still looking at only 4 horizontal wells per section in Reeves?
Bill
There is a video on the Home page that shows you how to check surrounding activity on the RRC website.