Sec 1 7N 10E 12 7N 10E
Dora and clara wells. Has production went down or maybe some wells stopped. Been reading alot of articles stating many wells are shutting down. Just curious if hughes was still putting out good numbers. Or where it stands.
Freddy: The wells haven’t “stopped”. However, these horizontal wells will produce 80% of their reserves in the first year and the production will become a trickle for several more years. The Hughes County horizontal Woodford wells are considered dry gas, meaning they produce very little oil or condensate so the price paid for the natural gas is very low and that makes wells less economical to operate. Fewer wells are being drilled for a couple of reasons, mainly prices of the product and the reserves aren’t near what folks have been touting. They sold the sizzle to get investors, then those investors got a taste of the steak and they don’t like it. The entire oil patch in Oklahoma is getting pretty quiet.
Fwp1031, Here is what I know:
Dora 4 -21/28H… Completionj Date Dec.14 '18 (Gas Play) MCF/Day 2646 WOODFORD FORMATION Flowing; Choke Size Full. Dora 5-21/28H…Completion Date Dec. 10 '18 (Gas Play) MCF/Day 1927 WOODFORD FORMATION Flowing; Choke Size Full. Dora 2 & 3 not drilled yet but Trinity got an extension from OCC for one year. I just received Royalty monies for both Dora 4 & 5. I have received small royalties from Dora I for approx 3 years. Hope this info helps. Let me know…Leta C. MONTANA (Big Sky & Grizzly Bear Country).
So is the gas and oil about to go cold around there you are saying?
I can’t predict the future. If prices don’t increase substantially, these gas wells aren’t economic and companies are in business to make money, so drilling will drop dramatically.
So it’s a good time to sale ??
FWP 1030, BALONEY!..hang on to those minerals. Leta C…MONTANA
Todd, Lets not forget what M Barnes advised, i.e. storage units for gas are being constructed so that the USA can export to other countries. It would ‘follow’ that demand will go up. Lets be ready. Another guide line I use is the lucrative offers that have been made to me to sell my minerals. ( NOT ever for sale)…an old expression from Oklahoma…“wait until the cows come home.”…sooner or later the lack of other countries’ lack of energy resources will bring them calling on the USA. My opinion…Leta C, MONTANA
Freddy:
It all depends on what your goals are. I don’t advise anyone to do anything other than get all the information you can and then make a rational decision that is best for you.
Todd M. Baker
Yeppers, 2 sides to every coin. I remember 10-12 years ago when natural gas was selling for $15.00 per mmcf. Folks said it will never drop. I sold a lot of natural gas at those prices and the buyers will NEVER make their money back. Recently operators were paying pipelines to take the gas there is so much of it. Some folks say these horizontal wells will last 30-60 years. I would bet every penny I have today, and then some, that that will not happen. I can’t make that bet because I won’t make it another 30-60 years to collect or pay off. A lease may last 30-60 years, but history tells us not a well. (Yes, there are exceptions) Horizontal drilling and fracking technologies have done nothing more than allow wellbores to be exposed to more pay zone causing them to deplete faster. It has not made more oil and or gas. As for demand, it is dropping due to all the renewable resources now available and technology that has made things more efficient. Remember when your car had a carburetor & got 10 mpg? EFI uses less gasoline and you get 20 mpg. Whats the next technology going to do? Tell the folks in Lewistown I said hello. I lived there in the 70’s.
I just enjoy having income monthly. Having 140 acres the checks are nice. But I dont wanna loose out if things are tanking. It’s nice having the money. It just seems the wells and money are almost gone
That’s the nature of the oil business for the last 120 years.