If the well is shut in, there will be no production. If there is only gas posted, then it could just be a gas well or they may have oil in the tanks on site, but it hasn’t been picked up and sold. Wait a few months and see what happens.
My latest royalty check from Continental shows that they sold oil for $13.86/bbl…
Gulfport oil sales ranged from $27.15 to $27.60 a barrel…
Nat gas price sales for Continental was also lower than what Gulfport sold…
I suspect Continental’s failure to hedge is coming back to bite not only them, but the royalty owners…
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Don, Continental’s May check was for oil sold in April. Any chance that Gulfport’s May check was for oil sold in March? Some companies run two months behind on oil sales (I know that Ovintic/Encana/Newfield does).
sonnerpe, you are correct… Gulfport’s May check was for oil sold in March. I did not catch that. Thanks!
Continental is shutting down the Phelps wells. Here is a small partial list of some of their shut-ins which I am involved with: Phelps 1-31-30-19XHX Grady Phelps 2-31-30-19XHX Grady Phelps 3-31-30-19XHX Grady R-Moore 1-24H Blaine Simmons 1-12-1 1413MHX Blaine Trammell 1R-11-14-23XH Grady Wintersole 1-4-33-28XH Blaine Zella 1-4-9XH Blaine
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Very helpful, JW–what’s your information based on? Is it already showing up on your stubs?
JW - Thanks for passing along the info on the Phelps wells. I thought they’d likely shut them in but didn’t know for sure. Thx again for the info! GD
Production on Black Mesa has been entered on OTC site for Feb, Mar, April,2020. This looks like a pretty good well after all. Would you agree?
“Good” is a relative term, since it depends upon what you compare it to. Time will tell. Producing wells in a low price environment can make a difference to the interpretation of “good”.
Black Mesa 0505 3-10 1WH is a Woodford well with a completion @285 BOPD & 706 MCF choke 34 ISPI 1930
Great Plains 0505 4-9 1MH is a Mississippian well with a completion @ 458 BOPD & 1504 MCF. Pressure 1884 ISIP and choke 34.
Will see how they clean up, but at first glance, one would say Great Plains was “better than” Black Mesa. All depends on the rock, number of perforations, proppant, water input, pressure, choke size and many other factors.
Thank you Martha.
Oil production thus far: Feb 11,693.69; March 33,925.39; April 25,098.74
Total gas for the three months is roughly 20,000.
Anyone else surprised, amid all the shut-in news, that CLR has applied to drill five new gas wells in 26+23 3N 5W? The OCC hearing is to be late this month. I realize Continental has stated that they’ll continue to explore, but the two sections involved haven’t exactly been hotly pursued in the past 7-8 years. Have to wonder if it will be another “big rush to get approval”–then nothing on the ground.
I am guessing that the market for gas is still viable.
Continental is good at what they do. They also know that they have to be ready to continue work as the prices of oil and gas increase (hopefully) over time. It takes months of preparation to be ready to drill a well or wells, so getting their regulatory paperwork out of the way now is using time wisely.
That township has quite a bit of pending activity by both CLR and Ovintiv. CLR has wells permitted for 24&13, Ovintiv has permits for 1 & 12. 26& 23 are already held by production by the Eula Mae 1-26H and Tannenbaum 1-23H, Arrington 1-23H.
The reservoir geology is good in those sections.
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