Up until 6 weeks ago I paid no attention to oil wells until I leased some mineral rights. I now notice where the wells are and what is going on around the areas my minerals are. I now have many questions. I am curious what is taking place in section 1, township 14 N. Range 16 w. I called Tonklan Oil to see how many minerals I inherited on this quarter(8.33 acres) It has a barely producing well on it since 1980. The gentleman I spoke with said they were going to put a well in the same section a half mile a way but horizontal drill under the road into the section to the north. He said they were going to have to do something with the well and it would depend on how the new well performs. I took this as plug it or put another well in, horizontal drill, and frac. I drove by there today and they are doing the dirt work for another well in the same section. There would be one old well and 2 new wells within a half mile of each other. My questions are as follows
1. What direction are they going to drill on the newest well site?
2. If both wells are going north, what do they know that makes them confident there is enough there to drill 2 wells within a qtr mile of each other?
3. How long from now to the end of the drilling until they decide if they should horizontal on my qtr
4. Is it unusual to have a well on 1 section but drilling into another section?
5. Would they use the hole on the old well if they decide to pursue additional on my qtr
6. When will the rigs be moved in to start drilling?
7. Is there any way to find out how much well has produced since 1980?
I am sure I have more questions but I will stop there. It is kind of exciting and fascinating. I know I wont get rich but it wouldn't hurt to have extra money
My husband has mineral rights on section 29, township 14N, range 14W, E2, NE. It has been pooled and we dont understand all of it. Can anyone give me some information on pooling? Our lease is up and we dont know if the pooling will make a difference on being able to lease the rights again.
I'm fairly certain the dirt work is for Section 36, 15n, 16w with a surface hole location in Section 1, 14n, 16w. This is common. You will not be in that well if you don't own in Section 36. The producing well in Section 1 is barely profitable at this point so they will have to do something if they want to keep the leases. They are drilling north. There's been quite a but of Cottage Grove activity in the area so it's just a matter or looking at the geologic structure and determining if the formation is thick enough, porous, etc to be productive. By my count, the Hoffman 1 has produced 500,000 mcf of gas, no oil.
These wells are not profitable at $65 oil. They aren't profitable at $80 oil. They are expensive to operate as they produce a lot of water. Don't be surprised if they decide to slow the pace of drilling until prices recover.
Send me a friend request if you'd like to know more. I am very familiar with that area.
My name is Troy Curtis, a landman, with Concho Land Company in Freedom, OK as well as Oklahoma City. I thought while times are slower, I would offer to help with any questions people may have in general and post my email, [email protected] for any and all questions. I also wanted to offer our services for individuals in need of mineral research or help with production related concerns in all Oklahoma Counties and the surrounding states.
Could anyone suggest a person/company that could fairly value, and maybe purchase a piece of mineral property with an operating Chesapeake well in Custer county. Thank you. Roy Wright
Stamps Brothers Oil and Gas purchase minerals and can give you a good price. 405-392-3451 Tell them I gave you their contact number. Oklahoma Mineral Buyers also a good one.
Tim, not sure if I would recommend the Stamps brothers in Custer County. A quick look at OKCOUNTYRECORDS.COM shows the Stamps twins only filing one mineral deed in the last 90 days in Grady and the rest of their activity was releasing Oil & Gas leases they took a few weeks before they filed the releases. Not sure if they took bad leases or couldn't fund them or find a home to flip them upstream before they had to pay the drafts or order of payments.
Roy, The most active buyers in that county seem to be: OKJV out of Dallas, Echo out of Oklahoma, Ferrell Oil out of Oklahoma, Sooner out of Yukon, & Wake Energy out of Oklahoma. Roy I would summit your acreage to all the buyers and get some friendly bidding competition on your minerals. Worst they can say is we cant beat the previous offer.
My sister and I have interest in Smith #2-1, Section 1-T13N-R19W Xanadu Exploration Company used to send us very small checks but we haven't received anything lately. When I looked it up on the OCC website the status is listed as PA. Can someone tell me what that means?