mcf refers to cubic feet of natural gas…you can google it to see
Activity Report for 8/10/12 (MT Oil & Gas)…Oasis completed Bakken w/ 1632 bopd; 1361 mcf (T27N;59E; 32). Looks like lateral extends under river. No new permits for Roosevelt County. This is unusual that activity (new permits) are very slow while decent production results are occurring in the area. Richland County with several new permits. Not quite sure what’s goint on in Roosevelt in regards to lack of new permits.
It stands for “Million Cubic Feet” of gas
As a addendum to the last post, apparently the liberal factor pervayed in the making of that one, The poor woman taking a shower in fracking chemicals ect. this one is made by Marathon and of course no fracking materials got away, http://www.youtube.com/watch?feature=endscreen&v=VY34PQUiwOQ&am…; you just have to take them all with a grain of salt ( or fracking sand) Brian…
sorry Big Daddy no info here. But Billy Bob Jim Bob started a discussion " Apache Townhall" in the Daniels County Oil and Gas Discussion as yet no contributors, hopefully soon tho. check it out Brian…
Big Daddy: Have you ever looked around on U Tube , If you are like me, having a animated Visual sometimes helps in the understanding process, and there are a lot of people out there who like to do this. here is a drop in tube, http://www.youtube.com/watch?v=fFUxq9UolN4&feature=related more importantly there is a bunch listed on the right side, check them out, it may help somewhat with your questions and understanding… Brian…
Brian, Thanks for the links it does make it easier to understand.
You wouldn’t happen to know how the meeting with Apache and Daniels county residents went, would you? it didn’t even make the Scobey paper this week.
Wondering if anyone has an idea of current bonus amounts. We are in 28n 22 & 28 R51E. Received a call yesterday about extending lease that expires in Jan. Thanks in advance for your thought. Tom
John:
Have you ever been approached in regards to leasing your minerals?
Our baker mineral trust has 25 net mineral acres in 28N, 49 E, but we have never leased it. Good luck to you in getting a good deal when your lease expires. Let us know how it turns out. Thanks, john Rowland
Charles, we have not. Do you know any reputable companies making fair offers? John Rowland
John:
I can’t help you in regards to companies making offers but XTO, Slawson, Brigham and Continental are some that has been drilling in the Eastern MT area. All are good as far as I know. Most likely, if you get leased in the near future, it will be a lease broker who will approach you.
Just wondering if any top leasing is currently occurring in the Roosevelt County area and specifically, which companies are showing interest in the area. It appears that applications for new permits have slowed in the area over the past several months and drilling acitivity has not progressed as rapid as I once believed would occur.
Charles…I had a conversation with our landman a week ago, and what you are observing seems to be what he indicated as well. The wells in our sections are now up and producing (SW corner of 28N, 58E) and when I asked about future wells, he mentioned that while they have a “handful” of spacing units yet to place on a well on, they are now seeing their focus moving into the placement of 2nd and 3rd wells on the sections they already have in production. Thus, perhaps the frantic pace of “sewing up leases” is coming to a bit of a close and the next phase is beginning. WHO KNOWS?? But, that was the take the I sensed I heard. And in addition, I heard an oil man on the radio (Fargo KFGO) speak somewhat the same about North Dakota as well: that most of the spacing units they wanted to “sew up the leases” on now have at least one well on them. Thus the “frantic” pace of permits is slowing…We’ll see!!
David:
They may be in the placement of multiple wells on sections with current production but these type leases would be “held by production” and I am wondering about the leases which have yet to be drilled, which involves thousands of acres. Alot of these leases will be expiring within the next two years and I feel that top leasing will become a major factor in the Eastern MT area as these leases near expiration dates. This Eastern MT area has taken the backseat while Western ND has seen the majority of the action over the past 3 - 4 years. Now that many leases in ND is HBP, I feel many rigs will migrate to this MT area for future drilling. I’m wondering what bonuses will be in this Eastern MT area over the next two years as I am sure the leasing interests will remain high since the Bakken/Three Forks is present in the area. It will be a wait and see game but as long as oil remains at the current price, leasing and drilling will continue.
David:
There are numerous undrilled mineral acreages in this Eastern MT area that are not held by production but have been leased for many years. There are currently alot of buyouts going on between the various companies and I think that eventually this area will held by a few major Bakken operators who will drill this unheld property. Drilling expenses have taken a toll on operators but bigger, more modern rigs along with multi-well drilling, is slowly entering the picture thus making drilling more economical. It may take another 8-10 years but eventually the majority of this Eastern MT area will be drilled. What you bring up about the increasing infrastructure (pipelines, etc.) will help motivate future drilling. Of course, all is based on the price of oil staying at attractive prices. The key for us mineral owners who will be negotiating new leases is not to sign for more than 3 years.
Charles,
I do sense that what you are saying remains accurate…for those oil companies who haven’t been drilling in Montana. Oasis Petroleum is the company we’ve been dealing with…and it appears that they are really close to having most, if not all of their leases “held by production”…, thus, the beginning of the next phase of multiple wells per spacing unit for Oasis Petroleum.
I’ve also wondered if the drilling is going to slow down for a bit to let the pipeline and distribution systems catch up…as we continually hear (I live in western Minnesota) about the need of railcars and the like to get the oil shipped out of this area. Note that I didn’t ask this of our landman.
All this being said, it’s basically all out of our hands and all we can do is speculate and hope for the best…now that our leases are held by production and the wells are operating.
Blessings…and may your wells “overflow”!!
Dctex99:
I have minerals in Williams County ND and Marathon just completed a well and I was advised that they would be permitting additional wells, as you described, on my mineral area. Also, I just leased additional acreage in Williams County and the operator has already applied for a multi-well permit. In regards to MT, I am suprised that these operators would be letting leases expire in view of the amount of money that has been invested in leasing. I don’t try to second guess some of the actions in this industry.
Yes; and still alot of well transfers in the PN…
There is definitely continued interest in the area; Exxon just made a big move making it the 5th largest mineral owner!!
http://www.businessweek.com/news/2012-09-20/exxon-to-pay-almost-2-b…