lol that's a home run. if it holds up its a grand slam like you said
well I guess I will be cautiously optimistic--this is all new to me and I SO appreciate all your comments.
OBENCO (O'Brien)'s Rodessa drilling results so far are highly variable. The 5-6 verticals with all completed as oil wells but all will most probably be uneconomic or just marginally pay out over time.
The one horizontal (Knepple) is doing well 4 months after the 573 BOPD completion - but their second horizontal is a doing very poorly.
Their vertical well near LaRue is a dry hole.
Time will tell how OBENCO's efforts turn out as well as if the Goodland play will work in this area (Jamex has a poor Goodland horizontal just south of county line near Purt while EOG has a decent horizontal across the lake near Noonday).
Last update point - Hunt sold their interests in Fairway Field area to Vanguard a few months ago.
rock man,
Has anyone been targeting the cotton valley formation? It looks like a monster gas play even with deflated prices in that area.
No CVS drilling efforts - reservoir tends to not be as good as what is seen in Harrison / Panola / Rusk et al area. Plus gas tends to be very dry in this area - it is the associated liquids that is driving this play success in other areas.
Just my take on all this, of course.
Sounds good, your take has been pretty spot on so I trust your opinion very much lol Thanks for the info
Rock Man, what defines associated liquids? Hydrocarbons?
Charlsey
Yeah, oil and condensate usually
Condensate is the cream of the crop lol get that in high volume and its retirement time
"Liquids" = oil, condensate and NGL's (natural gas liquids stripped from gas at plant - ethane, butane, propane et al).
Condensate prices tend to be about 80-90% of oil prices while NGL's are a major low price wise over past few years due to over supply (about $20-30 per bbl depending on make up). There is such an ethane glut that there is almost no value for that specific NGL
And of course there are various degrees of oil depending on API gravity, sulfur content, asphalt content, paraffin content and other issues
Rock Man,
Thanks for all the info. that you contribute to this great Forum. You are a wealth of information. YOU DA MAN.
Thanks,
Clint Liles
U r welcome! No problem and glad I can help a bit as to info and data
Rock Man is awesome!
Would a Mudd Company come set up shop before a rig was built? Does this mean drilling would come soon. There is a lot of activity with this type of equipment north of chandler in Henderson county on FM 2010. Would like to know if drilling for oil and gas is expected in the Simon Weiss servey soon.
Maximus Operating has another permit in the far NE part of the county (survey next to Simon Weiss). Paluxy Sand is the target.
If you are seeing that sort of activity now, the rig is probably not far behind
Thanks Rock Man. I’m going to take a walk today and find out for sure what going on at this location. I will keep everyone updated.
Maximus has already drilled a couple of wells in this same area chasing the Paluxy Sand. This is a localized play and not a unconventional subregional play like the Goodland play that EOG/CHK/others are playing in this immediate area.
What do you mean when you say localized play. Could you tell me the difference between the two. Unconventional and Localized. Thank you, Ryan
There may be better explanations if you google "unconventional vs conventional" but here's my attempt to explain:
Conventional plays (or localized plays) are tied to having a situation where there is a finite or limited area of prospectivity in a formation - usually tied to some sort of subsurface structure. If one were to be outside of these "traps", there would be on O&G and section would either be wet or tite (i.e. low P&P / poor rock quality).
Conventional targets may require fracs to help extract the oil and gas but the key is the finite area associated with the target.
Unconventional plays are regional in scope and tend to be independent of structure. Usually the reservoirs are such that one needs to do "unconventional" things to extract the O&G, i.e. drill long horizontals an/or conduct fracture stimulation efforts in the laterals.