Silver Koolaid,
76 barrel test is not good for a Horizontal well and after the decline on production in 12 months it may be down to 40 barrels per day or less. That's not an economical well and will never pay for itself. It possibly cost at least $5 million to drill and frack the well.
And Welcome to Mineral Rights Forum and the Hardeman County Group.
Clint Liles
Clint,
At the bottom of the W-2 it states:
Well was originally permitted as vertical, filed recompletion as
"horizontal" that was never drilled. Well to be approved as a vertical completion.
Please answer Silver Koolaid's question again because I do not know if the results are good, bad or ugly.
Wilson,
Thanks for the observation. I didn't notice the bottom of the permit. If it was drilled as a verticle that certainly changes the cost considerably and it could possibly be a profitable well after all. If it could hang in there at 50/60 barrels for a few years that would be good at the price oil is today.
Clint Liles
Thanks for the good info guys! My family has some interests around that area so I was wondering about any new findings North of Medicine Mound. Richard – if it’s not too much trouble – how do you look up permits such as the one you showed me?
Has anyone had any dealing with Dry Fork Production Co., LLC out of Wichita Falls? They have contacted me about a lease and I am just curious about them.
Hello all, I am curious as to terms of any recent lease offers.
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