That sounds really good to me. Hope to hear more good news in the future thanks again.
When putting down one well it took about 3 months before production began when putting down 4 wells will it take 4 times as long ? does each well come on one at a time or do they all have to be completed before they began producing?
Robert shepherd said:
I certainly hope your lease makes you a pretty penny. You’ve been a great help to us.
I have seen sporadic production from multiwell units from the earliest completed wells. They need to shut down close wells while they complete other wells. Or the operator can wait shutting in your original well while drilling the others, this happened to me and I missed a few months production on 2 wells while a third was worked over, sidetracked and completed in a different formation. Just have to sit back and watch.
Gotcha! Thanks again. I also saw something that said as much as 34 wells on a 1280 spacing. Wow! Could you imagine that. That would be fantastic for anyone with minerals. even if the bulk of the payout was in the first few years with that many wells going a small portion off each one would still add up to a nice chunk of change each month for quite sometime I would have to assume?
Oh it gets much worse than that! If you look on Youtube you can find the NDIC directors presentation where he explains that there can be as many as 48 wells per 1280 in the better spots and our area of Dunn county is one of those better spots. I'm just more conservative so I'm not saying more than 20 wells, I am willing to be pleasantly surprised though.
Robert shepherd said:
Gotcha! Thanks again. I also saw something that said as much as 34 wells on a 1280 spacing. Wow! Could you imagine that. That would be fantastic for anyone with minerals. even if the bulk of the payout was in the first few years with that many wells going a small portion off each one would still add up to a nice chunk of change each month for quite sometime I would have to assume?
So it’s very possible that this could just be the very beginning, of things to come huh? At this point it’s just starting up maybe? 1280 spacing is 2 sq mi. I believe. There is plenty room for drilling.
r w kennedy said:
Oh it gets much worse than that! If you look on Youtube you can find the NDIC directors presentation where he explains that there can be as many as 48 wells per 1280 in the better spots and our area of Dunn county is one of those better spots. I’m just more conservative so I’m not saying more than 20 wells, I am willing to be pleasantly surprised though.
Robert shepherd said:Gotcha! Thanks again. I also saw something that said as much as 34 wells on a 1280 spacing. Wow! Could you imagine that. That would be fantastic for anyone with minerals. even if the bulk of the payout was in the first few years with that many wells going a small portion off each one would still add up to a nice chunk of change each month for quite sometime I would have to assume?
So it’s possible mineral owners could be collected royaltys for years to come. And plenty of it too.
r w kennedy said:
Oh it gets much worse than that! If you look on Youtube you can find the NDIC directors presentation where he explains that there can be as many as 48 wells per 1280 in the better spots and our area of Dunn county is one of those better spots. I’m just more conservative so I’m not saying more than 20 wells, I am willing to be pleasantly surprised though.
Robert shepherd said:Gotcha! Thanks again. I also saw something that said as much as 34 wells on a 1280 spacing. Wow! Could you imagine that. That would be fantastic for anyone with minerals. even if the bulk of the payout was in the first few years with that many wells going a small portion off each one would still add up to a nice chunk of change each month for quite sometime I would have to assume?
Great. Lots of play in the future
Just never count on a check any particular month. Winter and spring thaw in ND can make moving oil problematical and you only get paid on sales. Wells go down for mechanical reasons also.
I hear you. Also when do they usually put in the pump?
The pump costs money and money to operate and in the actual production phase operators can be the greatest penny pinchers ever. As long as the operator is satisfied with the wells flow, they may not see any need to install and operate a pump. I mentioned before some wells of mine that had horrible completions from 2008 where the oil has a hard time getting to the pipe, it was 3.5 to 4 years before any of those wells received a pump, one of them still does not have one because the production has not declined appreciably in years and adding a pump would do little but add more production costs. So the pump gets installed at the whim of the operator.
We hear a lot about the bell curve and how the wells deplete after a few years but it sounds like some of your wells are still producing well. So it is possible for wells to produce something decent for years huh? It doesn’t necessarily HAVE to deplete down to almost nothing right. (Hope).
Mine in 149-93-24 are producing about 1/3 of what they initially produced after 2 years and the curve is looking pretty flat for the forseeable future.
My wells in McKenzie county where the oil has a hard time getting into the pipe are also stable but not really a desirable situation, they literally have not declined so greatly because they can't deplete the area because the oil ISN'T getting into the pipe. Those spacings are practically virgin territory. It really isn't good to be the first and be the guinea pig. To look around my spacing at the wells in surrounding spacings where they have produced in 6 months more than my wells have produced in five years due to much advanced completion techniques makes me less than thrilled.
Well I guess a lot of wells with long term stable production is the best way to go huh? Even if it’s low at least all the eggs are not in the same basket.
r w kennedy said:
Mine in 149-93-24 are producing about 1/3 of what they initially produced after 2 years and the curve is looking pretty flat for the forseeable future.
My wells in McKenzie county where the oil has a hard time getting into the pipe are also stable but not really a desirable situation, they literally have not declined so greatly because they can’t deplete the area because the oil ISN’T getting into the pipe. Those spacings are practically virgin territory. It really isn’t good to be the first and be the guinea pig. To look around my spacing at the wells in surrounding spacings where they have produced in 6 months more than my wells have produced in five years due to much advanced completion techniques makes me less than thrilled.
Very good point. I would definitely want multiple wells. I am somewhat naturally diversified in that my wells are spread out over 8 different spacings so it doesn't all go down at once if something is being worked on.
Does good wells in the naboring section usually mean you can expect good wells too?
Not always but when you are completely surrounded by good wells in the Bakken you can have some reasonable expectations barring mechanical failure.
Robert shepherd said:
Does good wells in the naboring section usually mean you can expect good wells too?
Is there anywhere that a person can see what the rig activity and progress is? Just wondering?
r w kennedy said:
Not always but when you are completely surrounded by good wells in the Bakken you can have some reasonable expectations barring mechanical failure.
Robert shepherd said:Does good wells in the naboring section usually mean you can expect good wells too?
How can a person know how far along the drilling stages are? Is there a way to keep track of the rig that’s drilling on your section.?
Mr. Shepherd, not really. It usually takes about 30 days to drill one of these XXL lateral wells. You can watch the GIS server map to see when the rig arrives and when it departs. The NDIC does track and report rig movements if you want up to the day information on rig movements. The tracking of the fracking crew is going to be alot harder. Probably needing eyes on.