Any updates on Section 17,20,29 7N 2W? I know they were fracking the last I heard 2 or 3 weeks ago. Anybody in the know have any info ? Rockhound have you heard any more about it ?
Completions for both Millan Mu wells are listed as of May 23, 2024. No production information will be available to the public until about four months after completion. It will be on the OK Tax site.
https://oktap.tax.ok.gov/oktap/web
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Thanks Martha. I am mainly looking for some info that is not yet public , LOL ! Very curious about this one since I have interest in it.
Only working owners would have the info and they may be bound by a confidentiality agreement.
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I am glad you mentioned that. I was actually curious if there was something like that , that keeps things under wraps until the proper time.
Millan MU 3HEX is listed on the OTC with June Oil. 1744.69 bbls
Millan MU 4HEX is listed on the OTC with June Oil 2391.06 bbls
Gas will probably show up in about a month.
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Thanks for posting. We don’t really know how much of the month they pumped do we ? I sort of wonder what expectations were on it ? Hope there is a lot of gas also.
You will get a better feel over the next six months. You may have a partial month for June on oil. You may have a partial month on gas as well. The wells have to clean up frac fluid first and then stabilize.
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Yes, I hope there is a larger oil tally later. The gas may be make or break for the project, really. At least we know there is something down there !
From my experience as a royalty owner the first few month/years are the largest royalties $ you will receive, them seem seem to taper off considerably after that. Not complaining though.
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Horizontal well volumes decline rapidly in the first four years and then tend to level out at a low level, potentially for decades. Revenues will be tied to prices of products, volume of products and royalty rates for the net acres/spacing acres.
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Yeah, previously it always seemed that way to me also. But I think the next month will be more indicative. They want to get their investment back ASAP if they can. No telling what they laid out of those wells but it is crazy money I am sure.
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The AFE (Authorization of Expenditure) is often in the Pooling exhbits. So one could get a predicted number estimate for drilling and completion.
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Hopefully we will get the gas production shortly and maybe we can see what the oil is doing. Pretty excited about this one.
I did get a thing in the mail from the Corporation Commission today. It appears they approved increased density in Section 29. There will be another well just in 29 to try to get a lot more oil and gas. They believe they will only get 276,000 barrels with the 2 current wells . They estimate the can recover 1,534,000 barrels or oil and 3,730 MMcf of gas with the new well.
Joe- the last numbers are most likely estimated ultimate reserves for the formation, not solely for the new well.
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I am sure the goal is to get as much of that as possible. There is no way they know the exact layout. I am just excited they are putting in another well in 29 only !
The 2 new wells are for Sections 17, 20 & 29. Approximately 33% allocation of production for each section.
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Yes but they have approved another well for 29 only. Increased density. They just sent the paperwork to me.
Can anybody see if the gas ever got reported on this ? It has been quite some time. I have not been able to find it anywhere.