We went into Iraq in 2003. By 2008 we had found all the WMD and the few well fires had been out for years. Compare to Kuwait in 1990, that was some well fires, but look at oil prices on your chart for 1990. We have to get Iran’s WMD like we did Iraq. Don’t we ?
Thanks again Don U. for your common sense perspective.
Lanny-I’m just looking back over 50 years in the industry and havng seen major changes in the way the industry really works and the way the world is changing you begin to get some prespective. Some good, some bad. But, we have to live with all of it whatever it is.
Cushing Pipeline Opens This Weedend
http://fuelfix.com/blog/2012/05/17/cushing-to-gulf-coast-pipeline-r…
Weekend! I need spell check!
Concerning well decline: Initial test results were 152bbl oil, 3.6 MMcf gas in December 2010. March 2012 production = 135bbl oil, 2.8 MMcf gas. The math: 11% decline in bbl oil, and a 22% decline in gas. Not quite the decline we were told about. Or at least not the typical decline eh Michael?
Francis,
Thanks thats encouraging, although on mine its been a little more in the first 4 months. About 19% on oil 247 to 200bopd & gas about 25% from 7 to 5.2mmcft. Still a pretty good well.
Yes, Carnegie, OK range a bell and I looked at my files and I was contacted by Adam Johnson back in 2010 to buy my 5 acres for $1,200 or $6,000 total. I am in a pool and that 5 acres produces about $500 a month or $6,000 per year.
I’ve already made more money from production than from selling.
If they are interested, there must be something there, so don’t sell. You will probably get more and better offers the longer you wait.
Oops that is 3250/NMA
Can anyone tell me about how much royalty owners are getting paid per mcft of “wet gas”. I have heard that gas in the 1300-1400 btu range is getting $5-6 per mcft. Thanks for any info on this.
11 north 9 west sections 34/35. Have 80 NMA in 35 and 67 NMa in 34. Acerage in 35 is HBP by zephyr, Acerage in 34 is not leased own from the top of Chester formation down
There have been three drilling permits for your sections since the first of the year. The two I have already shown and in Feb. 2012 one in section 34 14N 9W, Eagle Rock Mid-Continent.
With horizontal drilling, the Bottom Hole Location is what is important, not the Surface Hole Location.
That means you should also be interested in what is happening in the sections around your 34 and 35, i.e. sections 33,36, 26, and 27. As well as 2 & 3 of 13N 9W.
Sounds like 34 could be a commingle well. Look up commingle well on Google and it will give you a good explaintion.
Thank you Daniel, just waiting for them to come south to 11 north
Hwy 37 divides your property, correct? If you know how to use GOOGLE EARTH, it’s free to download, you can see your property and the wells to the West of you, maybe 4 or 5 township to the West.
Has anyone heard of Mountain Front Resources had offer to buy in section 35 11n 09w. Wondering if they acquiring for certain company.
That is what I think. My father-in-law was a wise man and told me ne er to sell minerals. They offered 3250/inmates or higher if I have received a better offer. Going to set back and wait it out. Johnson wrote this offer and their is a David Johnson that runs Zephyr operating, wonder if related?
What county are you in. How many acres do they want to buy? I’ll look at the activity around you and see whats happening.
Looks like you are in Canadian County. There has been 134 drilling permits since the first of the year, with 21 drilling permits in May.
There where two permits for Section 35, one for 12N 8W and 12N 10W.
Devon seems to be active in the area.
There have been 8 completed well since the first of the year in sections
3 ,4, 8, 16, 19, 20, and 24.
Thanks Lynden, Thats pretty good, I checked and found the wellhead price was 2.89 in Jan. 2012.