Thank you Soonerpe; I will do that.
K Dawn,
If you still have questions please post them.
I believe Continental is only waiting for oil to come up a little more and stay there for a while to begin more drilling again in the SCOOP. Thatās what Iāve been told anyway, Wade.
Jenniferā¦I donāt know the answer to your question but I know that Harold Ham started and owns Continental. His nephew told me he named the company after the Continental car because he loved the cars. He told me that after he was complimenting me on my Lincoln Town Car (I think he thought it was a Continental). He had nothing but good to say about his uncle Harold.
Continental very active leasing in Grady County and quick look at iDoc shows 500 leases recorded in last 6 months. I am seeing them leasing in sections where they have not leased before. I think they are in the Scoop for the long haul and growing their leasehold. Keep the faith.
Mr. Wade Johnson, remember that these people get paid to write bad news and it isnāt always so.
I was not that long ago that it was reported that world production had outstripped consumption by 1.8 million barrels a day? A few months later when oil had dropped to $30 a barrel they found out that 800,000 of those barrels a day never existed. Had nobody reported that we had 1.8 million barrels a day too much, oil would have not have dropped to $30 a barrel or below. Speculators need the price to move up and down to make money. Some talk it up, some talk it down, some do both at the appropriate times. We wouldnāt have an oil glut still in this country if the international companies were not importing as much cheap oil as they possibly could. The international corporations have actually INCREASED the amount of oil they import since the glut because they can make more profit per barrel on the foreign oil leased at around $1 a barrel even after shipping and production costs. One would think that someone in the media would point out that imports have increased since the glut, that the US currently imports around 7/8ths as much as China does, even while China was trying to fill up their strategic reserve.
Then other people cry out that once China fills the strategic reserve the market will crash? It didnāt happen unless it was a blip. Chinaās demand for oil is climbing as it has in recent years. My point is that people are going to talk oil down. Donāt put much stock in any one article. I just try to keep a firm grip on the underlying factors and not worry about todays scream sheet.
CR check went up, Newfield check went downā¦just need a bigger truck! lol
I am guessing this is Oil 101, however I was just looking at a chart for oil prices. It is interesting to see that both Continental and Newfield have different prices listed on our monthly sheets, that are quite different from the oil price charts I look at. Can someone explain this to me. I know the price varies every hour or day, however the averages for some months seem to shrink when I see what the companies sold the oil for. I know there are complex issues here, and local ones too, however I would like a bit of information to set it in my mind. Thanks.
Each company has its own internal costs that contribute to the actual price received such as pipeline tariffs, distance to storage, sweetness or sourness of oil, long term contracts, etc. I was curious as well and looked at the Q2 reports for each company. A snapshot that they each posted:
CLR actual realized prices for Q2 2016
I need to correct (or adjust) my statement that there was nothing going on in that area. There were some new sceisemigraph (?) signs put down Highway 29 from 2n 4w and 2n 5w.
Already forgot how to spell that word. lol
Could someone pull the pooling order for Section 6,2n,5w (done in late 2014) and tell me the highest and lowest amounts Please? I am at a computer where I cannot access that.
Newfield actual realized prices Q2 2016
I just got an Order Dismissing Cause for Sections 16 and 21, Township 2 North, Range 5 West, Stephens County, OK. Applicant does not intend to drill the well, therefore, there is no longer a necessity for this application and the cause should be dismissedā¦etc. So it is done.
16-2-5%20Cause%20CD%20Dismissed.pdf
Iām devastated.
Thanks for us all Martha !
201406391 Newfield multi unit with 6 & 7 2N-5W Nov 24, 2014. Order 633400
$2200 1/8th
$2000 3/16
$1600 1/5
$0 1/4
Thanks so much Martha!
You can compare them to your checkstubs just for interestās sake, but the issue is really quite complex.
But on that note, when I lease, I do check out the investorās presentations and would prefer to lease with the company that pays the highest actual realized price and has the lowest costs.
These numbers change day to day and have quite a few factors that comprise the final numbers, but a good high level look.
Iām so sorry, Barbara. I know that has to be so disappointing! What is the company name?
Lots of disappointed OU Sooner Fans too as Houston just whipped us good!
It is Newfield, Linda. As I have been in treatment, and just had surgery for cancer, I really needed that well badly.
So sorry to hear about that, Barbara, and will be in prayer for you for sure. We drove down through that area going to Duncan Sat. and there was just no activity at all going on as far as drilling. There were a few oil trucks on the highway 29 but not very many of them either. Itās sad times for many depending on the oil industry around here. Many feel they are waiting on the election and feel it will be better for the oil industry if they get Trump in office. Iām just afraid that which ever one we get in there will be harmful for the country. I remember that when Clinton was in office before that our economy was booming (even though he had terrible morals). Hillary seems to be more for alternative forms of energy so donāt think she will help the oil industry. I donāt like to talk politics and donāt want to get that debate started. All Iām saying is maybe things will change for us after the electionā¦ hopefully for the better. Best Wishes for you and your family. Everyone please pray for our country!
Breitburn has filed bankruptcy. My question is ādo I file a claim if I am a royalty owner? I just received a pretty complicated pack of legal papers requesting that I file a claim and provide proof of my claim. Would a check stub be proof? ā¦But it is not clear if I need to if Iām a royalty owner. Anyone one have a clue?