I am also a new mineral owner . Section 11 & 25 16n16w. Just wondering if any activity was going on in this area. Is this a good area? They have been leased since June 2010 for 3 years. If they are going to drill should they be starting soon to hold the lease? All info would be wonderful!!!! Thanks!!!!
Heather, I don't see anything in your sections right now but there is a lot drilling going on in Dewey Co. much of it in 16N. Good Luck!
Thanks Michael,
What do you think about the lease having 1 year left on it. They should be doing something soon, right?
Michael Hutchison said:
Heather, I don't see anything in your sections right now but there is a lot drilling going on in Dewey Co. much of it in 16N. Good Luck!
Heather, If they still have a year left they will probably try to drill before the lease has expired and a year is plenty of time to do that. They won't pay out all that money on lease bonus's if they can avoid it. Once a well is drilled and producing it is "held by production" which means your lease stays in force as long as the well is producing "marketable quantities". I got lucky on mine, the lease expired before they could get around to drilling it, so I got a new lease at todays prices and ended up with a good well to boot!
Heather I have a producing well in Sec 1 16N 14W. From spud date to production and first sale of gas was about 4 months. Then it took 8 months from first production to receive first check but it was a good one.
Awesome, what would a good well pay( oil and gas) on 52 acres and 107 mineral acres at a 1/5 th in this area? Since I have 2 places with minerals, they probley wont be able to drill both places, hopefully ......... then would get to release at todays prices, and what is the range for todays prices in this area?
Larry, Looking on the map your only about 8 miles from sect. 11. Thats very good news to hear!!! Seems like they can move fast. Getting to release would be great, but then again that first check sounds good too!!!
Larry Trook said:
Heather I have a producing well in Sec 1 16N 14W. From spud date to production and first sale of gas was about 4 months. Then it took 8 months from first production to receive first check but it was a good one.
Heather I only have 28 plus acres in a 615 acre spacing due to a correction line which made for a smaller section. Our well tested out at first for 105 bopd and 2.1 million cfgpd. The production fell pretty fast the first 6 months which I have been told is normal. I hope it levels out for a few years or they drill more. With your acreage and percent you should do well when they drill. Its hard to be patient when they are drilling but exciting to go to the rig and watch. Good Luck