What are good oil and gas well production numbers

Oil and Gas Leasing Help
1

What would be good, better, best production numbers be for a oil/gas well.

Thanks

2

First, alot depends on the period of time the well is producing. By this, I mean what is the price/bbl. If oil is selling for $100/bbl (today's average price) then the payout on the well would be a much shorter time span as oppossed to $30/bbl. Also, it depends on the location of the well. It's hard to compare a well in the heart of the Bakken (very high IP figures on many) to a well in the far Western section of that same formation.

3

I see your rights are in Texas. I wouldn't worry about what constitutes a great well, I would be looking for producing wells in my area. There is wealth in the ground if the source is rich enough. Try as you might you can't do anything about the source under you, unless you are involved with development of new technology to enhance recovery. If you have producing wells around you, eventually your minerals will be produced to meet the needs of a hungry world. When that happens, we get what we get. This does not mean you shouldn't make the best bargain you can, just that we personally can't do much about the actual production.

4

I am a novice we have no lease yet, so no well yet. Terrace is within a mile to the southwest. I know that doesn't really mean alot if they don't lease or drill. I was just wondering what makes a good well -production wise. I guess I am not frameing my question correctly. Is there no barrel per day avg that a company would look at and either say that stinks ( Im sure they wouldn't say stinks) plug and go away. Or say that ok production we'll keep it and see what happens. Oh its a gusher. I'm not asking for specifics just general info. I'm just curious. What would be a good day, month, year. Is there such a thing as a basic well. Just general production. Again just general for an oil and a general for gas.

5

Native American:

Your question regarding a good well - production wise will fall under the statement I made earlier about the Bakken and the outer boundaries. In some areas, a 300 bbl/day well would be considered good but in the heart of the Bakken, not good. One thing I will point out, just because a well comes in with good or great production numbers, a well close by may not be so good. I have seen this in various fields throughout my career and that is one reason the companies spend alot of money on seismic tests although sometimes this is not enough. All you can do is watch what wells are producing in your area as most likely they will on your minerals unless wells show production 100 or less bbls. (just an example). This whole process is nerve racking for the mineral owner and it's hard to predict the drilling in areas.

Native American said:

I am a novice we have no lease yet, so no well yet. Terrace is within a mile to the southwest. I know that doesn't really mean alot if they don't lease or drill. I was just wondering what makes a good well -production wise. I guess I am not frameing my question correctly. Is there no barrel per day avg that a company would look at and either say that stinks ( Im sure they wouldn't say stinks) plug and go away. Or say that ok production we'll keep it and see what happens. Oh its a gusher. I'm not asking for specifics just general info. I'm just curious. What would be a good day, month, year. Is there such a thing as a basic well. Just general production. Again just general for an oil and a general for gas.