Check out the info and Digital Play Maps for your properties - using this resource is like finding Antique, mint-condition, Baseball and Football Cards in the Attic - except better!
Regards,
Ralpr
That's very interesting, thanks. Richard, click on Ralpr's link, and then click on the pdf on the upper left side of the screen regarding the plays, and then go down to the Pennsylvanian Lower Permian Horseshoe Atoll Carbonate Play, click on that and you'll see a great graphic of the major fields in the play. Our acreage encompasses the area immediately east of the Good field and goes up a little past the Apclark field, yours is situated immediately to the south of that I believe down near the Vealmoor and Vealmoor East fields. You can look through the report and find the cumulative production from each of these fields, when they were discovered, etc. The Apclark was only discoverd in 1996, so maybe that's a good thing and there's more production to come. According to the report, this overall play is the third largest producer in the Permian Basin historically, with 2.97Bbl. The Kelly-Snyder field (the big green one on the map to the east of ours in Scurry county) is by far the largest, with 1.26 Bbl produced, but there's been a lot from the Good (49M), Vealmoor (40M), Vealmoor East (62M), Reinecke (85M), and Von Roeder (19M), which are close. I'm definitely not a scientist and can't decipher all the terminology, but it looks like your piece sits right on top of the Atoll where the thickness of the carbonate is greatest and where most of the production has seemed to follow along that line.
Very helpful, Ralpr. I wish I could make more of all the terminology to understand better.
Very interesting Ralpr and Glenn, learn some thing new every day. I am just interested to see what Chesepeake does with this area. Not knowing any better our group gave Chesepeake a two year option at the samee rental, will be interested to see if they release our area or not, still a year and 1/3 left on original lease.
http://www.chk.com/news/articles/Pages/1734237.aspx
FYI - Chesapeake keeping undeveloped, non producing acreage ~470,000 Net Mineral Acres in Midland Basin for either selling or developing later. Hopefully this is good news.
Regards,
Ralpr
Ralpr thanks for the information its just wait and see what happens in their area in Borden County.
Hard to tell, Richard. I would've thought they would have sold this if they could have, but maybe they couldn't get what they wanted out of it. Our piece has a bit under two years left on it, so I'll be interested in hearing if they keep yours first. I don't know the economics of these things, but it would seem these leases get less valuable to someone else the closer to the lease expiration, unless that someone values the piece a lot and doesn't want it to get to the open market where others could then lease it.With the money they paid to attain the acreage, you would think they would at least try to recoup it in some way rather than just letting the lease expire. I haven't been able to find out anything on the first well permit they took out in late March on Section 10, T31-4N. This was right around the time they started talking about selling the Permian acreage so I'm assuming they tabled it for the time being. Maybe they'll go ahead and drill it. Let's hope so.
Glenn just for the acreage we are involve in was $4.5 millon and at least that much for yours or more. They must think they could turn a good profit or there is some thing worth producing there. The option was not good idea but we will live with it and if they want to release its just some more money in the bank, which we can use since my wife is fighting breast cancer at this time and we were without insurance at the time. One thing about it Chesepeake is going to try and produce more liguids instead of gas this would be an area they could work. We will all wait and see.
Sorry to hear about your wife, hope she recovers very soon.Chesapeake's got a lot of money tied up in that area, so I'd imagine they're going to do something with it. Keep the faith. We're about 7 months after you on lease expiration, so do keep us posted.
Drillinginfo.com Target Energy goes even further down under article by Matt Menchaca
Fusselman plus the Wolfberry = the Fusselberry?
Regards,
Ralpr
According to this link, these energy companies are actively working in the Wolfcamp Shale (Wolfberry Trend): http://oilshalegas.com/wolfcampshale.html
Apache
Approach Resources
Chesapeake Energy
Cimarex Energy
Concho Resources
Conoco Phillips
Devon Energy
EOG Resources
Forest Oil
Linn Energy
Petrohawk Energy
Pioneer Natural Resources
Sandridge Energy
Southwestern Energy
Whiting Petroleum
SandRidge to Sell Permian Basin Oil Assets for $2.6 Billion By Mike Lee December 19, 2012 6:15 PM EST Facebook Twitter LinkedIn Queue SandRidge Energy Inc. (SD), the energy producer that has been fighting shareholder calls to break up the company, agreed to sell assets in the Permian Basin to Sheridan Production Partners II for $2.6 billion. Sheridan, a closely-held producer based in Houston, will pay cash, SandRidge said today in a news release. SandRidge, based in Oklahoma City, produces about 24,500 barrels of oil equivalent a day from 225,000 acres in the Permian’s Central Basin Platform. The sale price exceeds an estimate from John Gerdes, a Canaccord Genuity analyst based in Houston who said in a Dec. 17 note to clients that the acreage might fetch $2.5 billion. “The sale of the Permian assets at this time has allowed us to capitalize on current strong valuations for mature, conventional Permian assets,” SandRidge Chief Executive Officer Tom Ward said in the statement. The transaction is expected to close in the first quarter of 2013. SandRidge will use the proceeds to pay debt and fund drilling at its Mississippian Lime fields in Oklahoma and Kansas, according to the statement. The deal makes SandRidge “more of a bet on the Horizontal Mississippian,” said Jason Wangler, an analyst at Wunderlich Securities Inc. in San Francisco. “If that play works, so does SandRidge,” he said. Wangler rates SandRidge a buy and doesn’t own any of its shares. SandRidge announced the sale after the close of regular trading in New York. SandRidge rose 8.8 percent to $7.07 in late trading after closing at $6.50 in New York. SandRidge’s managers believe “all shareholders should conclude that this is a great outcome for them,” Greg Dewey, a spokesman, said in response to e-mailed questions. “We are simply doing what we said we would do, staying true to our brand and doing things quickly and efficiently and once again making a move that creates tremendous value for the Company and its shareholders.” SandRidge shares have fallen this year as shareholders including TPG-Axon Capital Management LP and Mount Kellett Capital Management LP call for the company to put itself up for sale. TPG-Axon, the hedge fund run by former Goldman Sachs (GS) banker Dinakar Singh, has called for a shareholder vote on replacing SandRidge’s board of directors. TPG owns 6.5 percent of SandRidge, and Mount Kellett owns 4.5 percent, according to data compiled by Bloomberg. SandRidge should avoid “any hasty strategic actions, such as the precipitous sale of the Permian assets,” until a new board can be seated, Mount Kellett Chief Operating Officer Jonathan Fiorello said in a Nov. 15 letter. He estimated the Permian acreage may be worth $4 billion. Wangler said the sale may help SandRidge win over shareholders, since it will allow the company to reduce its debt. Other analysts have criticized the sale because it would increase SandRidge’s reliance on lower-profit natural gas. “Regrettably, a Permian sale does not improve SandRidge’s long-term financial standing,” Gerdes wrote in his note. Selling the assets at $2.5 billion would have funded the company through through 2014, and SandRidge would outspend its cash flow by $1.2 bilion a year from 2014 to 2017, Gerdes wrote. He said in an interview he hasn’t had time to review his calculations based on SandRidge’s higher sales price. To contact the reporter on this story: Mike Lee in Dallas at mlee326@bloomberg.net To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net
Newswest9.com article Cline Shale Could Create a Super-Boom in the Basin Jan 08, 2013 9:31 PM CST By Jen Kastner
Energen 2013 budget will focus on Permian Basin activity - Mywesttexas.com: Oil
FYI - Wolfberry being targeted more so than the Wolfcamp/Cline.
Ralpr
Antares Energy Limited Update on Dawson County and Howard County
Pretty interesting - FYI.
Regards,
Ralpr
Ralpr... thanks for the article. Indeed very interesting. jhh
You're welcome Mr. Hodges.
Please let the folks in Howard Co. know!
Ralpr... yes, will post immediately.
; )