I have an offer to purchase my minerals in Section 33 1N 1E. A new Continental well came online last year, but curious if they have any other wells about to come online? I’m not sure if I would live long enough to make enough production to equal the purchase offer. Thoughts ?
Given the placement of the well in the southern part of the sections, Continental left plenty of room for more wells. Cannot forecast their plans. Always ask for more on a purchase offer. You can keep some and sell some if you want to split the risk. Contact your accountant regarding the potential capital gains.
I believe that there is also another well in section 32 that came on late last year or earlier this year. It’s an active site.
Same well. Two wells came from the same pad in 32. Portmagee 1-32-33-34XHW which is in 1N-1E and a parallel one which angled out and went into 1S-1E. Dalwhinnie 1R-5-4-3XHW. You can tell the sections by the name. Portmagee is listed as active as of June 8, 2023 on the tax site. Someone wants to buy the minerals so they will get the early high returns on the well. First checks won’t show up until about late November or early December.
Call Continental. They are helpful to me. I have a nearby interest and suspect you are in a very good position.
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