Completion Report filed with OCC on the Vesta Marie 1-29H in 29-3N-4W Competion/first production August 29, 2012
http://imaging.occeweb.com/OG/Well%20Records/1DD0BDAB.pdf
Initial test data Gas 5245 MCF/Day, Oil 408 BBL/Day, Water 486 BBL/Day, 29/64 Choke
I would be grateful for some advice. I have been offered $650 an acre to buy my mineral rights in Garvin count S: 19, T: 1N, R: 1W. I inherited various mineral rights in the area from my father, Charles Burke, who was a landman for Sohio Petroleum. I am new to all this and understand very little about judging a fair deal. I have leased rights for a similar price, so I am wondering if selling my mineral rights would be a wise move in this case. Also to consider, Is there anything going on in the area that I should be aware of, that would affect my decision? Thanks for any tips about this.
Thanks Linda for the info. Yes Sec. 29 is right beside 28.
In reading the Continental stuff about SCOOP I am still unclear as to what SCOOP is vs. the Woodford Shale. Is the SCOOP the same or a more expansive view of the Woodford and adjacent shale formations?
My question hope is self serving it that the bulk of our families mineral intersets lie in the eastern part of Garvin county – within the circle of the SCOOP pictures but outside of the Woodford descriptions I have seen.
Chris, the SCOOP is South Central Oklahoma Oil Province which lies within the larger Anadarko-Woodford or Cana-Woodford (Cana referring to Canadian County). Before Continental Resources coined the acronym SCOOP it was referred to as the Southeast Cana. The scoop is made up of parts of Grady, Stephens, Garvin and Carter counties. The part of Garvin you are talking about is a bit to the east of the core of the play and I really don’t know what the prospects are for that area.
http://newsok.com/continental-resources-unveils-oklahoma-oil-field/…
You might like to read this before you sell. If you lease for the same, it would make more sense to lease - never sell.
After reading this blog, I can’t imagine the $$$ that has slipped through my fingers! I never knew you could negotiate a lease except for the options of 1/8th or 3/16th!! Boy am I glad I found you all! Now tell me MORE!
M Barnes,
As Ron says, welcome to Garvin County Group.
Clint Liles
Hello everyone, I have been hiding in the background for a while. I just inherited some tracts from my mother so have been busy with probate. Good thing she kept good records. I just retired from a major oil company after being their geologist for 29 years, so it is kind of fun to be my own boss now. I did work Oklahoma a long time ago, so nice to return. For those of you who are new at this, I would recommend two books that I picked up at the NARO convention. “Look before you Lease” by Jim Stafford and “Let’s Talk an Oil Deal” by Jon Orban, III. I think you can find them on their website. Gives you the lingo, things to watch out for, etc. There are some really helpful folks on this site. I have learned a lot even though I have been in the business for a long time. I handled deep water production, so am brushing up on my royalty owner side now. If you have basic questions about your wells, I will try to remember what my engineering buddies have taught me. Posting this on the Stephens site as well if I can figure out how.
Chris There are Deese wells all over section 6-3-4 and several in 5& 7.One well in 6 has done 167,000 B.O. & 478,000 mcf in 10 years. The average is maybe half of that . They look better then the Deese wells we are under in 4n-4w
M Barnes, welcome to the forum. I think you’ll enjoy this group. Great bunch of people with lots of wisdom and frontline observations. Step aboard!
M Barnes Welcome
Ron, thanks for the info on those Deese wells!
Thanks,
I forgot to say Martha Barnes is the full name. If you are hooked into the Stephens Co group I posted quite a bit of info there today.
Thanks to everyone who has shared their knowledge, so I shared some of mine in return.
Michael Burke: We own down in 1n-1w, sec 15 has been 100% pooled just 2 weeks ago. Jan 2012 we were offfered $4500.00 net ac. Watch out!
Tica, How much an acre?
ruth: $4500.00 per net ac.
David where is your interest ?
Anyone have a name to a good oil and gas lawyer in the Lindsay area?? Just received a well proposal from Marathon, and it’s pretty much Greek.
$4500 an acre to lease or sell?