Anyone have any information on the development in the wolfberry area? I don’t see any proven production, but I hear about great potential.
I know that the play is still in its early stages, but looks like it could be big. Some big players sre creeping in, courthouses are busy!
Several companies have said they anticipate the Southern portion of the Wolfberry to be equivalent in energy potential the frontier Northern
- check out seekingalpha.com and search wolfberry!
Regards, Ralpr
I believe our piece of land is in the northern part of the wolfberry, Terry County. We have only a small piece, but I am hearing rumors of 400-500 barrels per day. That can sure add up. I hope the reality is a great as the hype.
Have you leased yet?
Under par said:
I believe our piece of land is in the northern part of the wolfberry, Terry County. We have only a small piece, but I am hearing rumors of 400-500 barrels per day. That can sure add up. I hope the reality is a great as the hype.
We have signed a lease, but the operating company does not plan on drilling for a while. They are currently drilling wells on 3 other tracks of land.
I have a landman wanting to trade me acreage there...not sure if I should go for it or not? Mine is in North Dakota, but he is willing to give me 2 to 1...sounds like a good deal.
Cara, 2 for 1 sounds like a really good deal from a landman, NOT. Your acres are in areas of PROVEN production. Do you even know yet which spacings you already have wells in ? Let me put it this way, would you trade $10,000 for two lottery scratch offs that the grand prize was $10,000 ? The wolfberry may even be a great deal, years in the future, but where you are is right now, there is alot of value in that.
Cara Simmons said:
I have a landman wanting to trade me acreage there...not sure if I should go for it or not? Mine is in North Dakota, but he is willing to give me 2 to 1...sounds like a good deal.
The Spraberry Trend And Wolfberry Play Of The Midland Basin, West Texas
HOWDY! FYI - Here's what the Bureau of Economic Geology at the University of Texas in Austin & Jackson School of Geosciences and Project STARR (State of Texas Advanced Oil and Gas Resource Recovery) have posted on this website (click on the hyperlink above) about the Spraberry Tend and Wolfberry Play.
HAPPY NEW YEAR!
Joy!
Ralpr
Very good information Ralpr. I don't think in Cara's case (above), I would trade 1500 bbl of oil per day for 30 to 125 bbl per day initial production of oil. Also I think that BOE, barrel of oil equivalent, which they quickly get to when talking about ultimate recovery, is a slippery subject. The price of the equivalent amount of natural gas to equal a barrel of oil is quite a bit less than the price of a barrel of oil, look at the comodity prices for the last few years. I'm not putting these trends down, if you have a piece of it power to you, and I hope you make the most of it. I can easily see where having quite alot of acreage in those plays would be an excellent long term investment, that I wouldn't mind having in my retirement fund. I will not be trading my ND acres with a well that IPed 2700 bbl of oil for even 10 times the number of acres in these plays. If the price of natural gas tripples, I will reconsider.
Ralpr said:
The Spraberry Trend And Wolfberry Play Of The Midland Basin, West T...
HOWDY! FYI - Here's what the Bureau of Economic Geology at the University of Texas in Austin & Jackson School of Geosciences and Project STARR (State of Texas Advanced Oil and Gas Resource Recovery) have posted on this website (click on the hyperlink above) about the Spraberry Tend and Wolfberry Play.
HAPPY NEW YEAR!
Joy!
Ralpr