I have property in Section 14, block 5. Our land is in the Hollywood Unit. Three wells were in the process of being drilled as of December 2017. Those wells are 1405H, 1455H, and 1406H. Now I hear that all of the equipment is gone. Does that mean they were dry wells? Or is this a normal process that will result in something else going on at a later time? Sorry to be such a novice, but I really have no idea what the time frame is. There are also two other wells permitted, 1454H and 1404H. I can't see where I have an interest in those, but since they are also in the Hollywood Unit, I don't know why I don't have an interest.
Hi Kathleen -
DrillingInfo still has the 5 Wells drilled in the Hollywood Unit as "Drilling In Progress", so I can't tell what their actual status' are.
But, since it stands to reason that they wouldn't have drilled 4 additional Wells if the first one was a Dry Hole, it sounds to me like they are waiting on a Completion Rig to complete all 5 wells at once.
Thanks, Charles...kind of what I thought. Just got a call 10 minutes ago from Texas. Wants to know if I want to sell. Told her they were drilling so was waiting for further information. I suggested to her that there were several wells being drilled. Couldn't see that if one was dry, they would continue to drill but she said she thought they were dry wells! Hate this information that I get like this....This forum is the best information ever. Is there a spud date on 1454H or 1406H?
Sheesh! Just when you think you've heard them all. If they were Dry Holes, then why would she want the interests???
Attached are Event Details on all 5 of the Wells.
Hope this helps!
If you want to sell any of your interests, even just a smidgen to have a good sized chunk of money to play with or pay off your house or get a kid through college, I can more than likely find you a buyer that will pay you a fair amount and won't try and BS you.
I wondered why she had an interest as well! My real issue on knowing what is going on is because I have been diagnosed with ALS. Not only is this not curable, but it is an expensive disease while I am still above ground. We hope that I will have another two years, but that is unknown! We are trying to figure out how to place this land in our trust since right now it is mine, personally. We plan to make a trip to Pecos, God willing, in mid to late April. Its hard to know quite what to do at this point. I really appreciate your help, Charles. Most of it is a little difficult to understand because it is coded, but I will work on that!
Oh Wow, Kathleen
That's one helluva tough break, but I am willing to bet that you have a whole lot more than only one or two more years in you.
And as far as all of this "coded" information goes, you are learning very quickly. And I'm sure all of the people here on The Forum will be happy to provide you with whatever information and advice they can to help you with your decision making.
You can rest assured that I will.
I am sending you an Invitation to become A Friend on The Forum. Please accept it, as I have some questions that you might not want to answer on this, the General (Reeves County) Page.
All my Prayers -
Kathleen, Who is the source of your information? Do not sell until you know all the facts. Horizontal wells are being drilled very quickly. Most likely the rigs have moved on and the wells are sitting and waiting to be fracked. There are 5 Hollywood wells. The rig data is showing a consecutive movement and activity from well to well. The Hollywood 1404H was spudded on February 16 and the horizontal leg was started on March 4 by H&P Rig # 486. This is the same rig which has drilled the four earlier Hollywood wells. COG is a good driller and it is a common practice to delay the frac for multiple wells until all have been drilled. It is more efficient. Three were drilled from one wellpad and the other two are on an adjacent wellpad. According to the plats, all five Hollywood wells are in the same unit and so you will be receiving royalties from all these wells. Do not let someone tell you otherwise.
Extremely unlikely that they drilled 5 dry holes in Block 5. The business model for most of these buyers is to saturate areas about to be drilled with offers to make a quick return on their money. Also very unlikely you will get as much per acre as you will make in royalties over the next few months up to 2 years once they start paying. These buyers are looking for a short term payback and then a long term profit.
Really sorry to hear of your diagnosis but hope this helps with your decision.