Section 7 5N 1W McClain


#1

I saw Thursday that BP had an intent to drill there.

Also, I saw Charter Oak had one at Section 18 5N 1W on Saturday. Can anybody see what kind of bonus they were offering there?


#2

BP bought out Charter Oak in that area. Poolings have been in the range of $175-200 3/16hs. BP has a new pooling hearing pending for 18. This is gas territory, so will not see the big offerings that you see farther to the west.


#3

I certainly yield to Ms Barnes on this subject but BP is making very good wells both oil and gas in their play west and south primarily of Purcell. 6N-2W has been most active but 6N-1W and even 33-7N-2W have made good wells. One and two mile laterals are normal and of course since the law was changed last year to allow two mile laterals in all formations they have become even more productive.

Also keep in mind these are tight holes and very little production information is available at the Tax Commission and even less at the Corporation Commission.

Those pooling numbers are too low at the prices quoted. This is a strong Woodford play and I believe ripe for expansion between SCOOP AND STACK…but what do I know. We’ll see.


#4

I thank you both for your opinions and knowledge. One thing I have learned, is 20 years is not that long in the timeline of oil and gas development of an area! There is nothing like the thrill of the chase!


#5

Can they “tight hole” production information?

I am under the impression they could “tight hole” logs and the 1002A only.


#6

I believe they can “tight” hole information until it gets to the Oklahoma Tax Commission where it then becomes available.

Delays of reporting 1002As can last for months and months at the Corporation Commission…at least in my experience.


#7

See my response in Forum.