April 29, 2014
May 13, 2014
Kathe, we have relatives that own some rights in that section and we own some rights in section 1 to the north of you. The section to the north has been drilled to the Woodford. It has a pump on it. This means very low pressure. I don't know if they will come back to our area or not. I have heard that it is the deepest pump in the world. It costs more to extract oil from holes like that. The good news is that the well should already be profitable. (We estimated a year and 3 months so they are likely looking at a double within 5 years..) They had to add an additional tank for oil 5 months after the initial production. (Not a bad deal)
The section to the north of ours (section 1) two miles to the north of yours does have good pressure and is flowing, it has 5 tanks on it. The sections to the south and west of yours are being drilled and they are hitting really big wells in the area, the Sparks is one of them.
In section one we may never see another well, due to the low pressure or they may push through to higher pressure areas with longer laterals. I just don't know, but if you have oil and yes you VERY likely do.... they will try to figure out a way to get it. So don't sell your interest. I look for them to drill additional formations in our low pressure area. They have one pump here and it would not cost them much more to set up a few more and set up someone that is full time in the area to tune them.
They also may not want to point much to the area, as I am sure they are still ramping up leasing areas held by production to the east of us and may be trying to get the low pressure areas at cheaper prices. Your section may even have less pressure than ours and they may not drill it. A lot of formations around us hold oil, the Hunton, the Springer, the Viola etc. These are proven within a few miles of us, so take heart and yes like us in section 1, you are at greater risks of not being drilled for oil.
Kathe lay said:
Sure would be nice... if something would happen in. Sec 12. 6 n 5 w.
THANKS FOR THE INFO GALE… NICE TO KNOW!!! FOR REALS THEY MAY NEVER DRILL IN ARE SEC…??? MAN MY AUNT DEE WOULD JUST FALL ON HER FACE… SHE’S REALLY LOOKING. FORWARD FOR THIS SEC 12 . 6 N.5 W TO DRILL. HOPE SHE DON’T READ THIS. LOLOLOLO… THANKS ANYWAYS FOR THE INFO. …KAT…
Kathe, of all the things I said, you seemed to take only the one.
I suggest you tell your Aunt that I said I would not sell the mineral rights in your section if I owned them and that the area is highly likely to have oil.
I would never sell my interest in section 1. We are not far from the Chitwood pool, your even closer. Many formations have oil in our area. Look around, the Springer and the Hoxbar have already been drilled, the Deese, Viola, Hunton are all very viable less than 6 miles from your location. It is to the advantage of the oil companies to keep this under wraps until competition starts to heat up, I think the little guys are sneaking up on the giants. Just remember the oil is a temporary gift if you get a well, but the gas gives for a long time.
I suspect they will drill your area when they can keep no advantage in not drilling it. They also may wait and put in a lot of wells at once with gas lifts, this might be cheaper for maintenance.... we just don't know. Sometimes things weigh in your advantage and sometimes they don't. But it is still likely to be a party even if the presents are still in the mail.
YEAH. I UNDERSTAND… WHAT YOUR SAYIN. NO WERE NOT GOING TO SELL ANYTHING. WE’LL SIT AND WAIT. LIKE WE BEEN DOING. JUST KEEPING ARE FINGERS CROSSED… I WAS TOLD THAT THE WELL U HAVE WAS NAMED AFTER MY GRANDMAS UNCLE. AND THE LAND U have WAS OWNED BY THE KELS. JUAST ABOUT ALL THE LAND IN THAT AREA WAS OWNED BY THE KELS. I think its cool… Well I have to roll I’m a truck driver and and that’s my living. I just check in every now in then to see what’s up… With. This drilling stuff. To me its a gamble. And the funny thing is. I don’t gamble. Thanks again for the info. …kat…
We live on the old Trout place, they planted the Cottonwoods and when Mrs Trout came to our house 40 years ago she was in her 70s or 80s, she showed us her old homestead and the root cellar and of course the old well. We built almost on top of her old house, we could still see the foundation, it was less than about 2 inches thick... and the old well was still there with her root cellar very close.
The land is around for a long time and we are just temporary. I always wondered who they named the well after. Drive safe and may God bless you.