Preston Spby Ut tr 42 and 44 Any new information on this area? I own a small interest in about a dozen wells here, and my payments were cut in half when Exxon took over some time ago. I am still trying to figure out why, without the expense of an attorney. Getting Exxon on the phone would be a herculean task. It isn’t that one well was cut in half, or two, or three… I had thought, at first, that Exxon might be cleaning out the wells. Then maybe that Exxon was re-drilling, then that it was combining them horizontally. Does anyone on here know, who wants to share the info? I am still getting offers, of course, but they are a fraction of what they once were. For example, under Pioneer I was getting up to 2K/mth; now the latest check was under 650. The offers are just over 100K, which would make sense. I highest I ever received, however, was around 350K. FYI, I own a 1/6th share, that I inherited about 2005. I used to be able to get that kind of info from Pioneer, but not from Exxon.
It would help if you gave more location info as there are many Preston Wells in Midland county. The section #, block # or at least an API # for one of the wells. You said that Pioneer was paying more back in 2005. Understand that the wells deplete over time and with prices going down this may be the fact that your checks are getting smaller. It could also mean that fracking is going on in an adjacent section and they were shut in temporarily. I understand that Pioneer was more responsive, so was Parsley before Pioneer, as I also went from Parsley to Pioneer to Exxon and it has been a PITA. 
mk
Exxon has higher overhead. Always remember as an interest or royalty owner u only gets what’s left after expenses
82 percent higher? Some others since 2020: down 48.6 percent; down 48.61 percent; down 48.77 percent; down 48.75 percent; another down 48.6 percent; down 73.71 percent; down 9.25 percent (OK, maybe); up 4.7 percent; down 2.56 percent (sure); down 39.89 percent; down 19.35 percent. And so on. I just don’t know whether anyone else is seeing this kind of a drop…or if anyone knows what’s up…whether it’s re-drilling or whatever. If there’s nothing being done, then there isn’t; but I am curious. Is it possible that, after 50 years of being consistent, the wells are petering out? Sure. TY for your input.
Thank you. I did reply, but it’s still awaiting approval. Trying again. Preston 36B, T4S BLK 38, SEC 36, AQ-871 is one of them.
Exxon doesn’t buy junk. The wells may need some intervention and clean out but they must be geologically sound if Exxon bought them. Hang in there u may see much improved number. Just having Exxon take over the lease is a gift in itself
That well is barely producing? API # for it is 32940181, I would suspect that the others are doing the same? MK
Needs good Exxon work overs. Clean out. Casing repair. Clean perfs maybe work up the hole. Maybe a little co2 Frac action. You may be surprised what’s behind the casing. Hello schlumberger
appraised at 340 dollars this year. That’s only my 1/6 share, of course, but still…
Yep. It requires AI to make a good decision. Trust Exxon.
Thank you. You are right, too difficult to tell, especially from here. I trusted Pioneer. With Exxon, jury’s not in yet. Pioneer gave me access to a large amount of info Exxon does not provide.
Exxon and Xto have one mission. Avoid junk. Make oil. I think u will see positive results with Exxon they have experience
TY. Hope so. Not an auspicious beginning, halving my royalties about as soon as Exxon took over. We’ll see. Maybe someone else knows more than do we about what is going on.
I think they are going to waterflood or co2 flood sounds like. You may see some good income