Well Production over 18 years

Are these good numbers over a period of 18 years?

GAS (MCF) 4,761,831

QUESTION - Do Oil and Gas companies share title options with an unsigned mineral owner's heirs?



Mr. Purvis,

Whether or not that is a good well will depend on where it was drilled. If the well has a lot of CO2 that might not be a very good well, but assuming all natural gas at today's prices of about $4.20/mcf that would be almost $20 million worth of gas and at $95/bbl that is $2.4 million in condensate or oil. In today's terms, that is more than likely a good onshore well. 18 years ago we had gas prices of around $2 and oil prices around $20, so the actual amount the company that received from that well would be much less than the numbers above.

Do you mean "title opinion" in your second question?

Mr. Purvis, yours is not the first such story I have seen here. In the other case the operator was holding 1.6 million dollars for the heirs of the original owners. I believe that all but a few holdouts signed leases for 3/16 and collected 290,000 to be divided between 100 people or more. I bet the operator of the well threw a party. It’s not every day you can pay people with a fraction of their own money ( 290,000 ) to let you keep the greatest part to the tune of one point three million ( 1,300,000 ). You may not have that much coming, but I wouldn’t be signing any lease. They won’t tell you how much money it is because it’s already yours, unless you sign a lease. You may have to hire a lawyer to collect though. Try to get as many people on the same page and get together and hire a good oil and gas lawyer. Best of luck to you!

Mr. Purvis,

I think you'll find the other family members will be interested after you've done all the leg work. If I were in your position I would keep track of every penny you spend and send statements/invoices to all your relatives. Whether they pay you or not is up to them, but I would certainly keep a paper trail going on any attorney fees, and even right down to the office supplies you need to do your part. Then when everything is said and done they will be forced by your attorney to pay you before they receive their share. It's only right you are reimbursed. You might even want to keep track of the hours you spend since they don't want to help. They should be willing to pay you for your time and effort. Again, it's only right. I wish you a great deal of luck and success.

Wes Luke