Joel-
Did you ever get ahold of your sister ?
Do you know if she is home over the holidays ?
Zeb, it would be awesome if a site existed that looked like and operated like Eser but would also provide lease information, what has been leased, what hasn’t, how much, when are they expiring, bonus amounts, royalty amounts…and have it all color coded so you could have a clear picture of what is going on…oh and it would update as often as my fantasy football sites…I would pay big money to subscribe to that site. So would oil companies I would imagine…and then they would shut them down.
I would be interested to know if anyone in the forum could give me any ideas as to the lease rates in T 142, R 103W. It would be so nice if on the site there could be a place to enter these latest known figures and date them. It would be an excellent reference tool.
Right Joel, TRS is short for township range section TFS is an abbreviation for Three Forks Sanish, another formation that is widespread like the Bakken.
RW and Joel,
the Whiting three forks sanish project as we all know was and continues to be a success, it only stands to reason that in those places where both the bakken and the sanish as well as other formations are available the risk of a dry hole is much less. Why would leases in the T 142 R 103 W not go for more??
Wishing everyone on here a very Merry Christmas and a healthy, prosperous 2012.
That’s good How is she ? Did she ever get leased ? We sent her a card but thought we call her after the holiday’s with some new local gossip about Bob! Are you going to see her over the holidays?
Zeb, you may already know this, whikle the wells don’t look fantastic the birdbear formation is being comercially sucessfully tapped in that T&R and whiting has at least 1 well targeting the TFS formation but that well is drl status. There may well be multiple commercially viable producing formations. With no information to go on from other mineral owners I would wait to find out how the Whiting well does and then consider what my minerals are worth. It could be that everyone leased for much less than they could have anyway. Sometimes you have to set your own price.
Too true, Mr. Babcock. LOL
Joel, I think there may be more than one formation there vertically stacked.
Larry,
I understand perfectly the point joel is making, originally, if you have been following the discussion, you will see that I had asked for lease term information on T 142 R 103W which has an interesting geological profile and what you are seeing is simply discourse regarding spacing and well options with multiple formation leaseholds. I find it reprehensible (disgusting) that even during the Christmas season people who take their time to post are time and time again personally attacked for such things as their english style. I for one would much rather have advice from someone with a great deal of knowledge on a subject than one without knowledge and perfect english… If you have anything to contribute to the discussion regarding the subject of the forum I will be glad to sort it out, for good bad or indifferent… but please keep your personal comments and attacks on other members out of the forum…
And Merry Christmas to all, how about we lighten up a little. Did you hear about the War between the North Dakotans and the Montanans, the North dakotans were trowing Dynamite at the Montanans and the Montanans were picking it up lighting it and throwinbg it back.
I was fairly certain that you knew Zeb, but alot of mineral owners seem oblivious to the fact that they could be over 3 or even more produceable formations. If they do mention multiple formations it’s almost always Bakken/Three Forks.
Does anyone know the details of the Bakken mineral rights Reef Companies are purchasing?
Joel I’d wager that those Birdbears were very cheap by todays standards. Also all those wells are producing about the same. If the operator didn’t think they were worth it, there wouldn’t be so many. That doesn’t mean it would be good business to drill one right now, but if you are tapping a deeper formation, I bet when it dries up they can plug back and produce in the other formation. I think they will find economically feasable ways to produce more of this oil in the future. They are not going to forget that it is there.
I’m trying to understand your question Joel. I did post below that I thought there was more than 1 formation vertically stacked. Are you asking why they don’t just drill the existing wells deeper ?
joel, I’m sorry, but I can’t understand what you are trying to convey. You say you have a minor in English??? I read and write for a living and haven’t got a clue what you ar asking and if you understand what Zeb and RW are trying to tell you. Your comments indicate a complete lack of understanding for simple business communications in English. Their comments are meant to help people understand the complex issues associated with oil and gas leasing and production issues. Pleaser read their answers and think before sending inane and uninformed replies.
joel,
i am not sure of the depth on the present h well, but i would assume that they were put in the most shallow and therefore economically feasable. I believe it has been learned that drilling to the deepest formation is better because you can always back up and collect from a layer closer to continue to recover oil vs. putting down an entirely new casing and redrilling a well. Therefore it seems that it would be, at least at this time, more productive for the producers to obtain additional leases in the area for new wells rather than revamping the old.
Joel- Are you a CPA in ND or just licensed in Canada ?
I am still interested in T 142 R 103W lease terms that anyone could relate here for me, please do not be afraid to post…if you do I have your back!