Well, I found a scrap of new info on the Trudy wells. On August 23 an operating agreement was filed with the county. Looked like a bunch of LLC’s which probably own our leases gave operating rights to a bunch of other LLC’s, probably all Spur in the fine print. I was not able to drill down further for details because I’m “not authorized.” Anyway, looks like progress. Hopefully we all get division orders on the next few weeks.
So today we got division orders on the Trudy wells. Two separate orders. One for 3 “shallow wells” and one for a single “deep well.” The decimal interest looks spot on.
Oh wow, that is great news! I saw on the OCD where they turned in some production for the month of June.
Got my division orders today also. Before I sign and return them, how do I know if the decimal percent is right? What should it be if you have 10.375 in 80 acres of the 480? Help please.
Nevermind. I found an online calculator.
An odd thing happened. Got a phone call a few days ago from a buyer who offered $11k per acre for the Trudy rights. That’s less than half what we were offered in May. Got me to thinking about the prospects for these wells. The first month production (June) were certainly lower than the projections in the C-102 drilling applications. I wonder if the wells are disappointing. I’m new at this, so I don’t want to jump to a conclusion based on one month of production. But my understanding is the early months are usually the best for horizontal wells. Maybe they are still flushing out the wells and not up to full production? Any thoughts? We are not going to sell in any case.
They didn’t start selling in June until like the 17th. Only 1 well was really opened all the way. 2 wells “pinched in” with one still flowing back and one basically shut in… I’m assuming to much production to be trucking out. JMO.
Thanks for the info. I was going off the production data in the OCD report. It said all of the shallow wells were producing for 30 days. Your info is better! Also makes me feel better. And I’m kinda glad they didn’t produce much in June. Oil prices are a good bit higher now. It would be nice if the peak production lined up with higher prices!
It takes the wells a while to dewater, all of these wells are really shallow (in general terms, 3000’-ish below surface) and not particularly gassy…they don’t come on screaming like deeper over-pressured Wolfcamp wells. Have to put them on gas lift or an ESP and pump the heck out of the frac water to unload and see what the oil cut will end up being. I wouldn’t sweat it. Yet.
I mean look at the production numbers. Its a few thousand barrels of oil per well and over 100,000 barrels of water right now. For June. Have to move a LOT of water.
Thanks. Helpful perspective. Pardon my ignorance but what’s a gas lift?
“Gas lift” : Its a way to artificially lift the wells. You pump gas from surface down the annular space, it mixes with the column of oil/water…making it lighter, and then it can all flow to the surface up the tubing.
This is all WAY too much water for your beam pump/horse head/pump jack etc setup. You have to have a submersible pump or gas lift.
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