I received a notice of increased well density for 36-23N-05W. This section already has 3 wells currently. The wells unfortunately are owned by White Star, who is currently in chapter 11. The increased well density is a notice of continuance until August 10th. Should we be hopeful that they want to drill another/more well(s)? Or is it more likely that they are trying to bolster their portfolio for prospective buyers? This section is in Garfield County Ok. Any opinions would be greatly appreciated, thanks
Might be a yes and a yes. Hopefully, either way you will get more wells in the future. Either with the current company in a healthier position with cash to spend or with a new company that wants to drill. Time will tell.