I own mineral rights to a producing well in Section 10, Township 5 North, Range 5 West. in Grady County OK. The well was drilled in 1993 and has been producing since that time but of course less each year.
Does anyone know of any chance that an oil company might re-work these older wells or possibly use newer techniques to improve the output?
Would appreciate any information.
Gracie Troini
Gracie Sheridan might try something to enhance production. I think your best hope is that someone drills a horizontal well on your section. They did some leasing in that section in 2011. The new wells would be on 640 acre spacing so you would have an interest in any well in the section that they drilled.
Thanks!
Yes, Sheridan holds the lease on it now but I didn't know they actually do the drilling.
Thanks again.
Gracie
Gracie, i wish I knew the answer. Sheridan owns your well and the Tilghman well in that section which are the only two producing in the section according to OCC website. A dry well was drilled in 1981. The Tilghman was drilled into the Woodford, Bromide, Hunton and Viola formations and it is most likely the same with yours. Both of the wells are on 160 acre spacing which leaves the other half of the section open so it could possibly get a horizontal Woodford well. Sheridan bought a lot of the wells that Anadarko drilled into the Woodford vertically in that area in the 1990's including three in the section that I have interests but I don't have any idea what their game plan is.
Lynden, thanks for the info. My well was drilled in 1993 and has been producing since then. Actually, not producing much, a little oil but mostly gas.
Anadarko drilled the well, sold it to EXCO and EXCO sold it to Sheridan. Sheridan is a holding company. Is this a front for an oil company? I called their office in Tulsa and spoke with some engineer. The engineer didn't really have much to say but did say they may do something with it in the future. All that selling it seems no one is too excited about it.
Gracie
Sheridan is real. They are HQ'd in Houston and the Pres. is Lisa Stewart who was formerly the the head of El Paso's E&P division. before that I think she was with Apache. It seems to me that they are a lot like Merit. They buy old stripper wells and try to coax the last few years from them. Merit bought the 1950's era wells and Sheridan bought the 1990's wells that were drilled vertically into the Woodford. The game (now, in light of what is happening in the area) may be to hold the acreage by production until someone else comes along to drill horizontally and have to cut them in. Unfortunately this could take a while.
Sure do hope so Gracie. Some of our mineral is all tied up with production and not producing much anymore...also!!! These boys on here seem to know a lot about what is going on. Perhaps they will have some info for us. :)
Gracie, Most of these companies are considered oil and gas operators. The actual drilling is done by contract drillers like Cactus, Precision, H&P and others.