I am new to this whole process so any insights that can be provided would be appreciated.
First, I guess I am learning the hard way that Continental Resources Inc, due to the lease language, can at their own discretion change the spacing unit from 160 acres to 1280 which pretty much kills the value of my mere five acre stake. My Royalty Interest nose dives from .005859375 to .00073242! That extra zero is a killer!!
Continental seems to be leading the way on much of the multiple wells per unit but I don't see where this is helpful since their production with the well on site has already gone from 6433 bbl for June to 2937 just three months later, for August. This certainly doesn't bode well for the future. With that type of reduction, I seriously question the statements about many ND wells producing for 30 years!!
My main questions: 1) is there any central location to track the company's well development on this spacing unit, and, 2) is there an authoritative site to check on the actual production and sales numbers?
I mention this last point because Continental's own statements appear to indicate that there was production in May, 2014, of 372 bbl. However the Division Order states that the Effective Date is 06/01/2014...why not include May? Further, the official ND website indicated when the well came off the confidential status on August 6, 2014, that it was producing 454 bopd. That number doesn't jive well with any of the monthly figures published by Continental, especially when the total for August was only 2937, which averages out to less than 100 bbl a day.
Thanks for any helpful info anyone can provide.