Our family has leased these Sections but recently been approached by several unfamiliar companies for purchase. How do I discover the sales value in these areas, and whether to hold on another year, or sell now?
Things are getting active in 10N-9W. See the recent posts about this area. I say hold for now as it's developing and heating up.
Cimarex has applied to the State Corporation Commission for approval to drill a multi unit horizontal well in Sec 1 10N 9w and Sec 36 11N 9W. May 15th is the application hearing, CAUSE CD No. 201702459-T.
It's a Woodford shale common source horizontal well. 50% of the completion interval in Sec 1, 50% in Sec 36. I and other family members have 3 year leases with Cimarex that expire in November. Sec 1 has drilling/spacing orders in place, Order no. 172284 and 558021. Sec 36 has drilling/spacing orders, order no. 138217 and 560848.
The drilling will run from the S/W 1/4 of Sec 1, north thru Sec 36, it will parallel Sec 2 and Sec 35. The drilling will start on the S/W 1/4 of Sec 1, which is where we have rights.
This area seems to be getting busy. Mapping shows this location has multi potential and layered within the SCOOP and Cana Woodford plays and includes the Mississippi Lime Common Source, the Hunton Common Source Supply and Woodford Shale Common Source Supply. This drill is proposed for the Woodford Shale Common Source.
Anyone have any other info or thoughts?