http://blogs.barrons.com/stockstowatchtoday/2013/12/09/cabot-oil-ga…
I’m having a hard time believing this is even possible, even for 10 wells…
That would mean someone owning what we do (1/4 section) at a 3/16ths lease, on a 640 acre spacing, using the 168Mmcf number, even with natural gas prices at $4.00/mcf, would make: $945,000 per MONTH.
(NRIMCF Production Per DayPrice Per MCF*30 days)
(0.046875168,0004*30)
Hope everyone has a safe and very Merry Christmas.
We will just have to wait and see what comes from the Garfield County wells, I only have 13.5 acres. Keeping my fingers crossed. Merry Christmas to all!
@MD: Mmcf = million mcf I believe.
Merry Christmas all!
Chad wouldn’t it be 168 times $4. It is already in MCF. If it is stated 168,000 cf then you would divide by 1000. Nothing to sneeze at though.
Found my letter from BluestarLand Services; seems that 27/22-21N-3W l WHX well(Eason) is maybe gonna happen. They mention filing a force pooling application in the near future. Estimation of total cost through completion could be $6,316,600.00 that’s a lot of money to put out there for oil or gas!
Intent To Drill:
SandRidge Exploration & Production LLC; RG 2407 No. 3-22H Well; N1/2 N1/21 NE1/4 NE1/4 (BHL) of 22-24N-07W; TD 12,055
How%20to%20Measure%20Natural%20Gas.pdf
Also, regardless of market, the price for the natural gas is going to depend on quality, so you can’t assume $4/MCF. If it were me, I would estimate the gas price lower until I saw check stubs because I would rather think I was getting less and get more…
Deborah,
That is cheap for a well that will be going under 2 sections. Now you know why they are trying to drill longer laterals. I have been told they plan on drilling up to 4 wells in this area within the next few months. I know they have the pad in the NW of section 23. I haven’t heard were the pad is for 22 or 27.
If you will except being my friend, I can write you.
Intent To Drill:
SandRidge Exploration & Production LLC; Crouse 2408 No. 1-1H Well; NE1/4 NW1/4 NW1/4 NE1/4 (SL) of 01-24N-08W; TD 11,448
Intent To Drill:
Devon Energy Production Co. LP; Edwards 32-21N-3W No. 1 SWD Well; SW1/4 NW1/4 NW1/4 NW1/4 of 32-21N-03W; TD 8,860.
Completions:
Dakota Exploration LLC; Oberlander No. 1-26 Well; NE1/4 SW1/4 SW1/4 NE1/4 of 26-22N-04W; 13 barrels oil per day, 40,000 cu-ft gas per day; TD 5,592.
Intent To Drill:
Devon Energy Production Co. LP; Decker 14-21N-3W No. 1WH Well; SW1/4 SW1/4 SW1/4 SW1/4 (SL) of 13-21N-03W; TD 10,487.
SandRidge Exploration & Production LLC; Rahm 2406 No. 1-3H Well; N1/2 N1/2 NE1/4 NW1/4 (BHL) of 03-24N-06W; TD 11,613.
Mcf — equals the volume of 1,000 cubic feet(cf) of natural gas.
Anybody seeing any new movement around the Hayward area, or really just west of Hayward Lake?
I would add a recommendation for T.J.
I’m looking to buy 10-15 acres of surface land near Fairmont or Covington. Please E-mail me: [email protected] if you, or someone you know might be interested in selling.
Well, finally noticed on the Corporation Commission there is a permit to drill filed on section 27, 21N, 3w. I am wondering if they are obtaining water from Hayward Lake, that is if there is still water there. Been years since I’ve been there. Frank and Minnie Coffey were the set of grandparents- in -laws whom owned these minerals. Allows 6 months to drill . Looks like there won’t be another lease. I’ve heard sometimes you want the leases. Guess we will have to wait and see. I am learning as I go, even if I am only a small mineral rights owner. Makes you wonder what 13.5 acres can really do.
Jordan Murray,
You may want to contact T.J. Casteel near Lucien and see if he knows of any acreage for sale. He is an auctioneer and very good. I’m sure he could find you something.
Great
Thank you both very much. I will contact him on Monday.