That article was not good news to say the least. I wish it would stabilize at a fair price.
If you all will forgive me one more time. I am having some pictures made of the Gentry and Connell and would love to send them to anyone that has an interest. Please email me at golfer248@gmail.com with your mailing address and I will send them to you. I love this site and hope to get to visit sometime. By coincidence the man Kenny DuBose who started this whole web idea lives up the street from me in Houston. That is an amazing coincidence!!! Val Connell Carter
Here is an article I came across about completions
http://www.rigzone.com/news/oil_gas/a/137322/Kemp_Shale_Producers_Postpone_Oil_Well_Completions/
Any thoughts?
Yes, donāt we all wish that!
Michael,
The R usually means the well is a replacement well. My guess is they encountered some problem while drilling and they decided it would be easier and cheaper to start over.
I saw that on the OCC website they have a Hatchett 1H-33X and a 1H-33XR. What is the XR?
Went through part of the diggins on our way to Elmore City today. Looked like they were fracing the Kelly well that was closest to Highway 76. Hum, I thought those wells were already fraced for some reason but I guess not.
This was in my email today. Donāt sound good but itās news:
Michael W. - Within the ācover letterā in the second paragraph there is a clear statement that both the Baxendale 1H-12 and the Campbell 1H-36X wells are ānotā included within the Unitization, and also within the actual Plan of Unitization Document within Paragraph 1.1 and 1.5 on Page 1 of 16 there is clear language as to āthe existing wells shall not be included in the Unit Area.ā
Michael, they ran into problems and had to start over, I guess the R means revised or something like that.
Lots of companies laying off people around here. Several have expressed concern that they might lose their job. Hopefully not. Praying for the price of oil to go back up for several different reasons.
What is the benefit for a person with minerals in one section having it unitized with another section?
Example: Section 1 in 2N 4W is being unitized with Section 12.
What immediate benefit is there?
I just received a division order for Section 8, Township 2N, Range 4W on the second Well 2-8H. I also received the smallest check Iāve ever received from Sunaco yesterday on a different well. Hoping oil will go up soon! With the inventory I heard today, it will be a whileā¦
Michael,
In this case, NFX plans to drill from a surface location in Section 13 then into the Woodford under Section 12 and continue under Section 1. Owners in Section 1 have the benefit that they will receive revenue even if a well(s) never reach their section. Revenue is not allocated based on producing interval in each section.
Unitization allows all the wells to be produced into one tank battery thus providing the operator and other WI owners considerable savings. Mineral owners benefit if the savings cause wells to be drilled that might not have been at the greater expense.
So what happens to the current Baxendale well? Does it get lumped in?
Micheal W. - The one item that causes me some initial concern has to do with some of the wording seeking āunifiedā lease effects (in effect perhaps āchangingā some of the initial responsibilities of lease holders and/or those who made elections under the Pooling Order) and perhaps some sharing of costs and expenses for the portion of acreage that is not part of the Working Interests and was originally acreage deemed as producing Royalty Income as opposed to Working Interest Income. So if a particular Lease did ānotā call for having to pay for any sharing of expenses or costs or in the case of someone who took a 3/16 RI or 1/4 RI under the Pooling Order they also were ānotā originally subject to having to pay any of the operator expenses and costs. So while I understand the Working Interest responsibilities, at least today I have some understanding research left to do on the Royalty Interest acreage?
Itty-bitty checks for all of us I guess. Iām looking at the email notice of my latest voucher from CLR and it isnāt pretty.
Jen, the Forrest 2-8H? Not bad for Nov.14 first sale.
Itās interesting to compare the fairly modest gas numbers on the Oceana completion report Jerry just posted, to the bragging about this same well contained in the Investorsā call that Linda just posted. Is it common that an extended lateral well with completion numbers of around 6800 MCF/Day actually goes into production at over 20.7 million cubic feet of gas per day initially? Are the completion reports predictive of anything? Or is Continental stretching a bit when they brag up this well to investors? Mark Delehanty
Thanks Bob. I havenāt read through it yet. My world hasnāt slowed down enough to smell the rosesā¦