Ms. Barnes & Ms. Rigtracker, Thank you for the everything you guys do to keep us informed. We had an amazing Thanksgiving and I’m feeling pretty stuffed! Not that it stopped me from eating pie already this morning! Back to our conversation. Here I go again assuming something. Can you please clarify? I thought that when an oil company wants to drill; they lease the land and then notify those who have an interest and then they force pool for those who they couldn’t find. I thought the first step was leasing the land, next pooling, then division orders, then pay. K Dawn
K Dawn, that is generally correct. If the minerals are held by earlier continuing production, then the leasing and pooling may not apply. Also, they don’t always send DO for additional wells if fully contained within one section. If it is a multi-unit, then each well may have it’s own DO since the perforation percent may be different.
Any guess as to when the oil prices will go back up? It feels like we’re giving it away…
Does anyone know who is leasing for Continental in 1N-4W? I spoke with Bearcat and they said Continental is leasing in that area but they are not handling it.
Jackfork Land LLC out of Oklahoma City is the one that we have always leased through to Continental.
http://info.drillinginfo.com/the-stack-the-scoop-and-oklahoma-oil-g… Article on the STACK and SCOOP plays.
Does anyone know what’s happening with the proposal we heard earlier about letting America start to export oil? Anything?
Obama vetoed it, Linda. He wants the world to develop alternative energy sources due to “global warming”.
The oil export bill has not been vetoed. It passed the House (in October) but as of Dec. 3 the bill has not passed in the Senate. http://www.politico.com/story/2015/12/budget-deal-could-lift-oil-ex…
Fred, Jackfork Land, Inc. is the brokerage that Continental has regularly used to lease in Stephens County. You try them.
He’s the one that should have been Vetoed!
capt. cameron please take your sales pitch to the “Market Place” see menu above.
this may have already been posted. if so, sorry for the repost.
http://clr.com/sites/default/files/InvestorUpdate_November%20-%20FI…
I got a letter from Tom Cole. He said he supported the bill and it passed the House. He also said that he will continue to fight the ridiculous export ban that we put on ourselves. I thought it was neat to hear from him!
I’m a royalty owner and believe in the science of climate change, and D. R., I’m following the same thing you are. The legislation could be VERY important to the future of mineral owners politically.
Might have been Sympson wells 2-7. Wish I had a better memory.
Extracting hydrocarbons from 300 million year old rock in a six thousand year old earth. Amazing.
As one whose family has been in the oil business for more than fifty years I don’t understand why some people don’t understand that we won’t get to the point where we are independent from other countries for our fuel as long as the oil companies can’t make enough to pay the high cost of drilling here. Been through 2 oil bust. When we sold out of the well service business we sold 6 of our best work over rigs to Argentina and some of the others to countries I’ve forgotten. We had two drilling rigs which sold for a tiny fraction of the cost and canceled the purchase for a third one. Continental said in one of the first conferences about the SCOOP “we have known for years that the oil was there but the price of oil was so low we couldn’t afford to go get it”. They can shut the wells in and just hold the oil until people are willing to pay the price for it and they will. I sure hope it doesn’t come to that. I remember when people were saying “There is no oil shortage. The oil companies are just making that up.” And they were right but we can’t use it if it’s 20,000 feet in the ground. I think we need to change our refineries to where they can use our better grade of oil and stop having to import the thick stuff if that’s why we have to import. Being able to only rely on ourselves with wind and solar is a long time down the road if ever. What do we get down the road on and heat our homes on until then? Just my thoughts which are probably worth just what they cost you…nothing!
Watched a science show a few years ago that explained how catastrophic floods such as the one in Noah’s time could make fossils look hundreds and even millions older than what they really are. Go figure…
Hutch…that was not nice! Santa may bring you a lump of coal instead of a royalty check! Best I remember you and I are about the same age, right?