Clayton Williams Energy, Inc. to Transfer Exchange Listing to the New York Stock Exchange from NASDAQ. [significant for C-W followers, IMO] Later – Buzz
Found out today that BHP rescinded their offer today on our 160 acres. The well on the other 160, I guess didnt do anything. How much does a well need to produce for them to not cap it?
Why do you think the other well “didn’t do anything”?
They filed the permit as a horizontal, then it ended up being a vertical with 5 or 7 frac stages. Our atty said they decided to take back the offer. So Im assuming the well is not a good one. The atty said upper mgt is putting the clamps down on bonus money. Do you think their is a chance of the unleased acreage getting leased?
Sorry, away from my computer 'til Mon. Later – Buzz
George, I wouldn’t read anything into it yet. Apache had 4 verticals, one each on sections we own acreage in and after a year of looking at the data from the verticals they are just now permitting the first horizontal well. At a 8-10 million dollar cost per well it benefits the company and the mineral owner to take the time to get it right. I see more open space than drilled space in the Reeves county map, but in my mind, that’s a gold mine that hasn’t played out because it hasn’t been opened. We all know it’s there, the future is golden, but patience is still hard to come by. Sarah
I was checking to see if anyone (Buzz) has heard of any new action in Section 44 Block 57 Township 3 Abstract 3036 or Section 46 Block 57 Township 3 Abstract 3035? I signed with PetroHawk now BHP. Everyone on this sight especially the Great Buzz have a Merry Christmas and a Great New Year! Good Luck to Everyone in 2014! JW
Any updates on the BHP well 42-389-32880 in Phantom (Wolfcamp) lse#42841?? It is located Sec 32 T&P 55 T7S, 8-9 miles or so south of Toyah just west of RR 2903. I own 58 acres with frontage on the RR in Sec 8 T&P 55 T7S Abstract 3043. It is 3 miles north of the BHP well. We have had our property under lease for about 7 years now, first to Chesapeake, then to Petrohawk just as the BHP buy was happening. The owner of the tract just south of us had a road cut to the east into section 9-10 (a permit was issued for a well in section 10). There are two Clayton Williams wells in the Wolfbone (Trend Area) about 4-5 miles east. Is the Phantom and Wolfbone getting ready to expand into the area? Or is BHP divesting in this area?
2013 has seen 650 drilling permits filed for Reeves County, 22% more than the 530 filed in 2012. Of interest is that in December of 52 drilling permits filed, only 6 call for vertical wells to the Wolfcamp depth. 2014 will be the year of the horizontal and my guess (and hope) is that completion rates are even better than some of the well completions that have been released in recent months.
Good luck to all and best wishes for the New Year…Steve
JW
At this point we would be better off in sec. 44&46 blk. 57 if BHP would sell. I’ve been dealing with Cimarex in this area and would rather be leased to them.
Garland
Thanks for the summary info Steve. Happy New Year to you also.
Happy New Year to all. 2014 is gonna be a great year for all…
GLO Sealed Bid Oil & Gas Lease Sale – January 7, 2014 - Reeves Co. Parcels
http://www.glo.texas.gov/what-we-do/energy-and-minerals/oil_gas/sea…
(click on ‘Addenda to Notice for Bids’. Also, see my Dec 15, 2013 post below.)
Minimum Bid = $2,500 per acre
PSL BLK 59 SEC 48, 23.8 miles W of Pecos, 480 acres, A-5107
jw,
reading below, you stated you have land in 57T3 sec 44? please reply if that’s correct.
John – here is a more definitive map of BHP’s Permian offering:
http://www.scotiawaterous.com/bhp_2013/overview.html
{click on map, center right) Later – Buzz
Buzz I quess this means there is no action on my land? JW
Here is BHP’s map of leaseholds they plan on keeping or divesting in Reeves County
John – I sent you a ‘friends request’ several days ago… might you have overlooked it… or, if not, just answer ‘no’ this this post. TIA – Later – Buzz
Yes Wade my land is in that section. Buzz my e-mail is not working correctly. I am going to see fix that . I will also update my acct with a new e-mail address Thanks JW
I signed a 5 year deal with the then Petrohawk now BHP? JW