In December, Continental’s purchase of certain Pioneer Permian assets closed, including my interests in Ward County. With over 15,000 permits on the books, Pioneer didn’t see any new permits coming until at least 2024. Now that Continental has taken over these leases does anyone know of new or projected activity in the Ward County area?
Have to figure that Continental didn’t pick up this acreage / associated permits to sit on them. They should be ramping up some drilling to start getting payback on their investment. Actual timing and number of rigs will be a mystery unless one has “eyes” inside Continental’s offices.
Since we continue to receive checks from Pioneer I did not realize Continental had closed. Pretty low key. Pioneer walked away from one of our best wells because a pump got stuck and they couldn’t fish it out. I hope C gives it a try. Shame to have such a good producer simply go away.
That’s interesting about the pump issue. Our original well in the unit went “PTSO” in April of last year. I finally got in contact with a landman from Pioneer familiar with our situation and he said “they lost tools” and had twice been unsuccessful in retrieving them…bummer. Hopefully, Continental will have more success in getting that well back up and running.
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