New Locations - Horizontal Wells: Daniels Wildcat 019-21151 Apache Corporation Haworth 18-7H-B SHL: SE NE 18-36N-48E (2700 FSL/240 FEL) EL 2433’ GR 30380 PBHL: 11544’ SW NW 18-36N-48E (2291 FNL/200 FWL) Bakken Approved: 10/17/2012
When you talk to different venders and contractors workers that all seem confident of production, but definitely no offical comments to the public by company people. I think that is to be expected and that is what the apache reps have said all along. I sat by two apache reps and the mud logger from the first well at a hospital fundraiser sat night and not a word was spoken of production. Apache did donate the cost of the meal for the fundraiser, so that is to their credit in my opinion.
Here’ a question: Can they tell if there’s oil present just by drilling, or do they have to go through w/the fracing process?
How about 37N 45E Sec 27?
This is the bog website. It is updated every Friday and shows all new permits, completions etc. bogc.dnrc.mt.gov - /ActivityLetters/
Stephanie, yes they can tell if oil is present before they frack.
Patti:
It’s actually the Portland. Ore branch sending out the checks.
John Backus–Do you know the number of the Branch of Wells Fargo in Fort Worth that we or the bank branch has to call when the 90 business days are up. Would so appreciate.
To all: Just recieved a form letter from Shale today dated Oct 19,2012 advising me that they have entered into an agreement with Apache Corp. which provides for the assumption of our ( shale) operations by Apache in Daniels County. Advising me that they ( shale) are transitioning the leasing operations to Apache. And therefore revoking any offer to lease to date… (unsigned) Shale Exploration, LLC FYI Brian…
Volney, to clarify the form letter you received;
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Had you signed a lease with Shale, or just discussed leasing?
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If you had signed a lease, were you awaiting payment?
Just trying to understand if they’re now backing out of signed, yet unpaid, lease deals. Thanks
Brian, thanks for clearing that up. I was wondering if this was a Chesapeake type deal (lease large acreage with delayed bonus payments, drill couple quick wells, if results were poor then refuse to honor prior leases). Glad to hear that is not the case here.
Yes, I assume the folks at Shale were well compensated swinging this lease block over to Apache. They put in the time, and did the leg work, putting together 400,000 or 500,000 acres. No doubt they picked up $X per acre plus kept an override on the deal.
So they flipped the leases to Apache so I wonder what will happen to the unpaid leases and has anyone heard if Shale plans on keeping the office open in Scobey. As in the Daniels County Leader they stated we are not going anywhere --we are here to stay.
Don’t start grabbing for pitchforks and torches just yet, but… Yes this means Shale has “flipped” their leases to Apache Corp.
It was expected all along (on one of these threads I told everyone that this is where it was headed). Shale Exploration was never a drilling company (though they talked of becoming one). So if you leased to them, it is better that they “flipped” this to Apache Corp who is a major oil & gas company. Apache has the experience and personnel to pursue the drilling and exploration far better than an inexperienced Shale Exp. That is my two bits… now go grab those pitchforks!!!
Of course they flipped the leases. It was either that or sit on em and do nothing. They aren’t an operator. They did the legwork based on their geology info in the county and then sold them for a profit. It’s good news that apache bought them. It might be be an indication of “oil in them thar hills”.
Patti:
Wells Fargo
503-886-4357
Than-you so much John the info. We are so glad everything worked out for you. We had one date now now they have upped it. We are working on getting it back to the original date. We may have to let that one slide.
Dear Eastern MT:
So, am I correct in thinking Shale flipped their leases to Apache?
If, in fact, Shale did flip their leases…I’d like to have a word with my landman. He ASSURED me Shale would NEVER do that!!! Ya, right!
I hope Ted takes it well that Shale exploration was just a flipper all along. I think the last we heard from Ted he was in denial.
1.No 2.No, They had OFFERED me a lease a couple times, and a couple of phone calls. No lease was ever signed, in the form letter they were just saying that they (shale) were giving all lease authority to them (apache) so therefore any lease OFFER would be null and void and not actionable in case I had changed my mind and of course 10 to 11 years tieup is crazy. And when the phrase " transitioning our leasing operations" is used, I can just assume that the big boys in the oil patch are now exchanging moneys besides attaboys. Brian…