FYI… Yesterday, I received notification of docket activity for CD2022-000630 (Continental Driftwood Goddard Unitization). If I read it correctly, Continental’s application was approved 6/27/24 pending their ability to show “ratification of the Plan by the requisite percentage of lessees and royalty owners” on or by July 15, 2024. I am not aware of any recent activity by Continental to solicit addition approvals from lessees & mineral owners so I assume they have the necessary approvals and that the July 15 ratification is a formality.
Am I reading this correctly? If so, will this spur some activity within the Unit?
Are those filings for the Goddard formation? If not, they have nothing to do with the Driftwood Goddard Unitization. It will take 10-12 months or longer to get the necessary surface equipment in place to begin the waterflood. And a few more Goddard wells to be drilled too. Its a BIG unit.
CD2022-000630
As of today, Continental’s Driftwood Goddard Unitization is officially approved and filed with the OCC. Per their filing, it looks like Continental easily met the minimum required level of approval from both working interest and royalty interest owners. Unit operation must commence within 6 months; will be really interesting to see this unit evolve over the next months/years. As Todd said, its a BIG unit.