Hello,
I have a question maybe someone could answer.. I see that EOG has a permit to drill right beside the Jake #2-01h well i am just curious if anyone can speculate why? Something to do with evening out pressure maybe? Also does anyone hear anything about the “Hereford Ranch” prospect than EOG is starting to drill on? One of my dads wells is 60w 12n Sect. 21 and 30 and some others near there also.. I am again curious, i see approval to drill in (Olive Well close to ours) April so i am guessing they have already drilled a well it takes so long for some of these wells to get production data on them. wish we lived closer. would be neat to see.
Bryan said:
Ted, I have no intention of offending anyone and certainly I am not accusing anyone at EOG of anything except telling it in their honest opinion. What I said is that the Jake has a steep decline rate, period. I also said 50,000 BO was produced in 3 months and it was. I would get a subscription to some of the production reporting services and you will have this information or check the Colorado website for free. I also said 50,000 BO does not come close to paying the Jake well off and explained why and it does not. I said the decline is rapid and it is. I also said it better stabilize or lease prices and interest will diminish and they will in that area. Those are not accusations of deceit, they are just cold, hard facts.
I am seeing people post on here telling that $2500.00 is the going rate for leases in Weld County and it is not. It is the going rate in an area in or nearby the Wattenburg field (and a limited few other areas) which is a gigantic and hugely productive field with multiple pay zones. No leases in most areas of Weld are worth near that amount and will not be unless both very good and lots of wells are drilled in those areas to prove the Niobrara. Farther east of I-25 you go the less and less leases are worth, unless they are adjacent a D or J sand discovery well which is not the Niobrara formation.
I stand exactly where I said I did. Clarifying facts only to help people make good decisions. I try to provide input for minerals based on facts not exuberance. I think oil and gas questions should be answered by oil and gas professionals and people with questions should seek out oil and gas professionals so they get accurate advice.
Again, I hope all do great and I wish EOG all success with their endeavors as they are helping supply the energy we need, providing employment and paying royalties to many farmers and others who need the money desperately including the great State of Colorado. So I say “GO JAKE WELL GO!” But I also say if it keeps declining something new better happen as to frac designs or horizontal drilling techniques or this message board may get depressing.
Everything I state on here is my own opinion and if you want a professional geological review of your area there are many consulting geologists who will prepare one for you for a fee which would be wise if you have very many minerals for lease. This ensures owners the best deal possible and they know better what you may have as to oil possibilities. They can also help you contact companies for leasing.
Good wells to all and may your lease prices go higher!
Ted Preston said:
Bryan, as long as you’re clarifying things, perhaps you can clarify the source of your information. On a quarterly earnings conference call, Mark Papa, CEO of EOG Resources, stated that the well made 50,000 barrels in the first six months, and that it is stabilizing at 150 BOPD. You seem to have some source of different information, telling you that the well made 50,000 barrels in the first three months, and that it is not stabilizing. You seem to be suggesting that Papa’s statement on the earnings call was materially false, or at least misleading. If that’s not what you mean, please clarify.
