I was very surprised when the oil companies came around this past month to get agreements for seismic operations. After all the hard work my neighbor and I had put into developing a great lease, all of our other neighbors signed a seismic agreement that in the last paragraph said it superceded all other agreements. WOW!
Read everything! Get help with everything if you need it, not just the initial lease. The company has not contacted myself or my neighbor again. Apparently, they got all they needed from the rest of our neighbors…
This documentary is made by the non-mineral owning tree huggers. I am not saying fracing and seismic does not affect the fresh water tables when done in shallow formations but these problems have occcured in urban areas. Weld County, Colorado is “Lonesome Dove” land. Do not let the tree huggers deprive you of new found wealth. Most of them are silver spoon trust fund anal openings.
Steve said:
PLEASE FOLKS!! I understand the excitement of your possible windfall of "found money" and I realize all the freedoms and possibilities that may be provided to you by these, but before you make YOUR decision please watch the documentary "Gas Land"..
nothing but name calling from you,that sir is non-productive
W. Howard Pritchartt III said:
This documentary is made by the non-mineral owning tree huggers. I am not saying fracing and seismic does not affect the fresh water tables when done in shallow formations but these problems have occcured in urban areas. Weld County, Colorado is "Lonesome Dove" land. Do not let the tree huggers deprive you of new found wealth. Most of them are silver spoon trust fund anal openings.
Steve said:
PLEASE FOLKS!! I understand the excitement of your possible windfall of "found money" and I realize all the freedoms and possibilities that may be provided to you by these, but before you make YOUR decision please watch the documentary "Gas Land"..
nothing but name calling from you,,,,,that sir is non-productive
W. Howard Pritchartt III said:
This documentary is made by the non-mineral owning tree huggers. I am not saying fracing and seismic does not affect the fresh water tables when done in shallow formations but these problems have occcured in urban areas. Weld County, Colorado is "Lonesome Dove" land. Do not let the tree huggers deprive you of new found wealth. Most of them are silver spoon trust fund anal openings.
Steve said:
PLEASE FOLKS!! I understand the excitement of your possible windfall of "found money" and I realize all the freedoms and possibilities that may be provided to you by these, but before you make YOUR decision please watch the documentary "Gas Land"..
I did not realize that I was referring to you and I do apologize if I did. I just hate to see people miss out from disinformation. Enter this URL iand you may get some truth from non-biased experts on hydraulic fracturing:
nothing but name calling from you,,,,,that sir is non-productive
W. Howard Pritchartt III said:
This documentary is made by the non-mineral owning tree huggers. I am not saying fracing and seismic does not affect the fresh water tables when done in shallow formations but these problems have occcured in urban areas. Weld County, Colorado is "Lonesome Dove" land. Do not let the tree huggers deprive you of new found wealth. Most of them are silver spoon trust fund anal openings.
Steve said:
PLEASE FOLKS!! I understand the excitement of your possible windfall of "found money" and I realize all the freedoms and possibilities that may be provided to you by these, but before you make YOUR decision please watch the documentary "Gas Land"..
Just curious......How many new wells have been drilled in Weld County since all of the excitement started a year ago? Has the drilling been concentrated to a few areas in the county? Or, are the companies still looking to obtain leases and will concentrate on drilling later?
Just looking for some basic info/opinions on activity in the county.
Billy - it appears that the upcoming spring will be hotter in Weld County that last year.
In the past week (February 13-19, 2011) Colorado Oil and Gas Commission APPROVED 72 new well permits for Weld County.
Companies receiving recent permits: KERR-MCGEE OIL & GAS SLAWSON EXPLORATION NOBLE ENERGY ENCANA OIL & GAS BONANZA CREEK ENERGY SYNERGY RESOURCES CHESAPEAKE OPERATING HRM RESOURCES EOG RESOURCES INC CARRIZO OIL GREAT WESTERN OIL & GAS
All 72 permits last week identified the Niobrara formation. Eleven permits were for horizontal. Five permits were for diagonal.
RigZone has reported five horizontal rigs in the state of Colorado.
In the Grover area, (11N 62W-63W) EOG has reported six to twelve months of 2010 OIL production. For Example:
GARDEN CREEK H ( 6 months) = 10,732 BOP
JAKE H (12 months) = 43,173 BOP
RED POLL H = 49,181 BOP
CRITTER CREEK (6 months) #4 H = 87,445 BOP
In township 8N and 10N we are currently seeing offers of $500/acre on 5 year leases at 18%.
On February 17, 2011, the quarterly auction produced a $3,300 per acre lease for 320 acres in Weld County. Timothy Kelly, minerals leasing manager for the Colorado State Board of Land Commissioners said the acreage is in the heart of where the Niobrara play is picking up. (source Denver Business Journal February 18, 2011) The winning bidders will not be announced until payment is confirmed.
However, given the auction report the following 320 acres parcel were at bid closest to "the hot zone" February 2011 tract #101 320.00 acres 11N 65W section 14 E/2 might be on-the-money. However, twelve miles west would be "hotter."
In November 2010 the following CSBLC bids were recorded. Notice the dramatic drop in dollars with distance from the "hot zone."
$ 1,175.00 per acre by Diamond Resources 320.00 acres of 9N 61W sec16 N/2
$109.00 per acre by Contex Energy Company 640.00 acres of 11N 57N sec16 ALL
$16.00 per acre by Yates Petroleum Corporation 640.00 acres of 10N 56W sec16 ALL
I have mineral rights in weld county, colorado.....I was just contacted with an offer of $500/acre and 18% for a five year paid up lease. We are not the property owners...just the mineral owners. Of course this was inherited, so the 18% will be split up. I was told the reason for this is because there is a well within 20 miles of our property that is producing oil AND natural gas. That well produces $2mil/month in oil alone, not counting the natural gas. So.....from what I gather, the price of your offer fluctuates based on how promising the deal seems.
Also, from what I understand, under Colorado law, only the deceased spouse and BLOOD relatives inherit anything. Stepchildren would be left out.
My brothers and I have 25% of the mineral rights to a quarter section in R7NT66W section 10 near Ault. We were offered $34 an acre, 16.75% for four years by Petro Canada two years ago. Petro Canada backed out at the last minute as we were signing, so we did not reach an agreement. Petro Canada has since sold their interests in northeastern Colorado to Noble Oil. We would like to find the other owners of the same mineral rights we have and to get a better idea what the terms of the leases are going for in our neck of the woods. we did use a lawyer to review our previous unsigned lease. We are not in any rush to sign a new lease, as you can see, the terms are going up.
EOG Resources (EOG) Q4 2010 Earnings Call February 18, 2011 9:00 am ET
Chairman and Chief Executive Officer of EOG Resources, Mr. Mark Papa.
EXCERPTS
In the <b>Niobrara,</b> recent completion results have increased our comfort factor regarding the play. The Niobrara was more highly fractured than other shales, and we had questions about longer-term productivity.
Relative to the industry, we drilled more wells than any other operator in the oil play, and we have the most data of any operator. We have recently found a way to convert the play from one dependent on fractures to more of a matrix-dominated play. This increases our confidence that the Niobrara can be developed as a true resource play.
So far we've tested 80,000 of our 300,000 likely perspective net acreage and have drilled wells such as the Critter Creek 13-17H and Elsie 7-34H, which recently tested at 731 and 820 barrels of oil per day, respectively.
During 2011, we plan to drill 40 wells, and we'll evaluate the remainder of our 300,000 acres. It's still too early to provide a total reserve estimate, but I can say that we're more optimistic about the play side than we were six months ago.
We expect both the Wolfcamp and Niobrara plays to be only minor contributors to our 2011 development at a modest pace with the three-rig program.
Q&A Brian Lively - Tudor, Pickering, Holt & Co. Securities, Inc.
Q - On the Niobrara comments around matrix permeability in the Hereford Ranch area, what permeability range are you seeing there? And just given the data the you've seen so far, do you expect the Niobrara to really have a core in the Niobrara Lite region?
A - Timothy Driggers - The early wells in the Niobrara are generally dominated by high permeability open fracture system. And this typically leads to very wide spacing patterns and low in place oil recoveries. So what we're doing, we're developing the completion concept, and this allows us to connect more the oil and the matrix philosophy as opposed to only the oil and the fractures. So the results are encouraging, but they're early. And if we're successful in changing this, connecting more oil in the matrix, <b>we may be able to drill wells on certainly much tighter spacing than we thought</b> before and certainly increase the recovery factor of the oil in play. So it's going to take some time to determine this, and the ultimate impact on the play will just reveal itself over time.
Q -Brian Singer - Goldman Sachs Group Inc.
Going back to the Niobrara, can you speak more specifically to what you did differently in terms of the completion that gave you more confidence in matrix flow?
A - Mark Papa
Brian, again, for proprietary reasons, we really don't want to give a lot away relating to the Niobrara. There's probably 10 or 15 of our peer companies listening to this call that would like to hear what we've done in that manner, and we're not going to give it away.
Q - H. Monroe Helm III
This question has to do with the Niobrara. Do you think that there'll be -- like we're seeing in East Texas -- do you think there's going to be some really <b>sweet spots</b> in this play? And do you think you've pretty much identified where the sweet spots are on your acreage?
A -Mark Papa
Yes, all of these plays have sweet spots in them. We've learned ... it is really early in the testing process of this new technique, but we're working on that. And I think there will be some sweet spots. And we'll just have to see how it plays out.
Q - David Tameron - Wells Fargo Securities, LLC
You made a comment about supply consuming the infrastructure, there's always been the old axiom that oil is harder to grow than gas. But of course, that was before horizontal drilling.
A - Mark Papa
Simple answer to your question is, yes, it's harder to grow oil than gas. Oil wells don't flow very long. They need artificial lifts in very short periods of time as opposed to a gas well that may go five or six years before it needs compression in some kind of cases. The second thing is the artificial lift that you put in oil wells has a higher downtime than you typically have with gas wells. With broad pumps, centrifugal pumps, they fail more frequently.... I think you'll see that across the industry that the bottom line is it's just a lot harder to grow oil than it is gas.
How can I find out if the oil company I leased my mineral rights to has applied for a permit or received approval to drill in this specific area? Thank you.
This link will take you to the gis mapping in which you can go to the specific area or tract and with the permit and pending permit section checked you will see the icons that you can then click on to pull up the information and or documents of such
In the Feburay 17 acution 8N57W27 SE 160 acres leased for 250/acre to Retamco out of Red Lodge Montana. They also leased all of section 36 8N57W for the same price. You can look over the leases at the link below.
I just posted the following question on the Weld County Group board (thank you, Mineral Joe, for helping me figure out how to find them!):
There are two pending permits on 11N 57W Section 6. My leased out rights sit on the north 1/2. These two permits are just south of the 1/2 "line". Does anybody know if I have a prayer of getting any royalties from these wells if they produce? Or do the wells have to be right on top of the rights?
The easy answer is that if they aren't on your tract, you don't get royalties, but that's not the end of the inquiry. First, if the well is horizontal, they probably need 640 acres to drill. Since many tracts are only 320, they would need to add a contiguous tract to get the minimum area for drilling. That could be your tract. Second, if the oil pool itself crosses over the boundary line onto your property, they have to pay you a royalty. The old "There Will Be Blood" days where they can take their straw and drink your milkshake are over. If they drink your milkshake from their land, they've got to pay you.
Thank you. I was really hoping that would be the answer because, near as I can make out, spacing requirements are 320 acres up there. My milkshake is tasting a little better!
Smith said:
The easy answer is that if they aren't on your tract, you don't get royalties, but that's not the end of the inquiry. First, if the well is horizontal, they probably need 640 acres to drill. Since many tracts are only 320, they would need to add a contiguous tract to get the minimum area for drilling. That could be your tract. Second, if the oil pool itself crosses over the boundary line onto your property, they have to pay you a royalty. The old "There Will Be Blood" days where they can take their straw and drink your milkshake are over. If they drink your milkshake from their land, they've got to pay you.
Happy to have helped Carolyn. You are correct, one permit is for lot 6 and the other for NWSE, lot 6 maybe incorrect but still is in NWSW. It depends on spacing but it looks like both are 313 acre S/2 spacing. I looked at all the permit documents and 6-13H goes from the well location on lot 6 to bottom hole in the SE/4 and is a Niobrara horizontal. The well 6-33M looks like a vertical well to just below the skull creek formation TD 6921’. To be certain on spacing you’d have to contact Whiting Oil & Gas Corp.
Am I being too optimistic about the chances of Whiting producing something? There are vast areas out there with no permits even pending. It seems to me that they must be pretty sure if they're planting two wells.
Does anybody have an idea how long it takes for those green "permit pending" spots to get changed to the purple "permits"? And then how long does it take after the permit is issued for the company to actually spud?
Could you please explain the letters at the beginning of the well location on the website, ie. SESE 25. I am assuming the number is the section. How can I tell if a permit application is for my part of section? Thank you.
Mineral Joe said:
This link will take you to the gis mapping in which you can go to the specific area or tract and with the permit and pending permit section checked you will see the icons that you can then click on to pull up the information and or documents of such