I have a 10 percent working interest in section 29 of 7N-5W. Been getting a bunch of high offers and beenn thinking about maybe selling soon. Has anyone ever sold a WI? Know whats a good price and what to try to get.
Depends on a lot of factors. What’s your net revenue? Is your 10% interest in the old vertical wells or in the horizontal wells? Are the offers less and except existing wellbores or inclusive thereof? The old wells were spaced on 80s it looks like. The new wells are multi-unit so the difference in leasehold acres owned could be substantial. 29 isn’t as attractive as other sections in the immediate area in my opinion, because it appears to be partially depleted by the vertical wells when looking at the proposed well path of the Simms 6 well.
Its 10% in the new horizontals, so 10% across the new unit. I’m not sure your asking about the wellbore though
What’s your net revenue? I was asking if the offers you are seeing include the existing wellbores or not. Newfield drilled a horizontal well in that section several years ago. Generally offers for leasehold exclude existing wellbores which should be factored into your decision.
I deal in WI all the time. Did you participate in the original horizontal woodford well with Newfield under their pooling and if so, what is the name of record? I will help you find out your net revenue. That will give a better barometer as to what a good price would be for the interest you are looking to see.
Todd M. Baker
Have you asked the operator if they wish to buy you out?
Very seldom will the operator offer more than what you can get from parties that want to get in the unit.
I recently sold some WI in that area for a great deal more than what the operator offered.
Todd M. Baker
If you don’t mind me asking. Who did you sell to?
I have not but I was thinking about reaching out to them