Royce, we have received some pretty good offers on Sec 17 but not as high as you have on 20 . That could be because 20 has one more well and a bigger share of the Poteets. I’m also thinking that the offers are looking at future development because at current production levels it would take them 8-10 years to break even on that kind of money per acre.
Thank you, Martha. I had missed this particular display and it is very helpful.
Thanks, Michael. I agree, it must be for potential future development.
Hutch….Good to hear from you! Of Course, I knew that 20 had Poteets and Whatleys….just another thing I knew but couldn’t remember. Dahhhh!
Royce…I can’t answer your question but I believe the STACK gets higher offers because they produce from two zones stacked on top of each other in same well and seem to produce more because of it. I’m not sure about that so any correction from those in the know will be welcome.
Hey Linda, glad to see you are still hanging in there. Hope all is well with you and Preston and family!
The STACK has more than two reservoirs depending upon where you are in it. The shallower ones than the Woodford have more oil, so they are considered more valuable.
Hi to both of you!
Yelp, Hutch, all is well from this end! Hope everyone is having a very Happy New Year!
A pipeline is going in a mile or so North of our house with the road that comes by our house used as their access road and suddenly our nice quite county life has become busy and with lots of noise especially in the early mornings. Will be so glad when they get it done!!! Our road is paved now but it may not be when they get finished. UGH…so much worse when you are not receiving revenue from it, huh?
Newfield has no plans to drill the additional 2 JoAnn wells at this time. I’m sure they will at some point in the future, but the immediate plan to drill is no more.
Martha, the Simpson is discussed in the following article about the Anadarko Basin. This formation is a lot deeper, isn’t it?
https://finance.yahoo.com/news/kind-oklahoma-land-rush-anadarko-131500885.html
Yes, the Simpson Group is Ordovician and includes the Bromide, Tulip Creek, McLish, Oil Creek and Joins Formations which were conventional reservoirs. The shales between them are probably what they are talking about.
First area I worked in Ok back a “long time ago”. If I remember correctly, the Simpson sands equivalent in Wisconsin is the premier frac sand that is being hauled all over the country. Local sources being used where possible, but that sand is excellent.
Thanks, Martha. I remember my Physical Geography professor at OU taking his classes on a field trip to the Arbuckle Mts. in the late 60s and explaining the Ouachita Orogeny (sp?) to us and about the abundance of oil & gas in those rocks, if they could be unlocked. Made a memory to this day.
The Simpson group conventional sands have been drilled in OK for a LONG time. My grandfather, my father and I all worked them. About a hundred years of drilling. Their source rocks would be good shale targets given the right conditions.
I see offers in 2N4W in excess of $20K/MA for minerals. Has anyone seen lease offers for Springer or Sycamore in the township?
John:
I am pretty sure most, if not all, of the sections in 2N-4W are HBP by Woodford wells. The Sycamore & Springer lay above the Woodford, so chances are good that those zones are either HBP by the lease themselves or by the Pooling Orders. There were a few sections were the Order didn’t cover these 2 zones, but not many.
Respectfully, Todd M. Baker
Todd,
Several of us have leases and/or pooling orders restricted to Woodford and Goddard. Just wondering if any new leasing for shallower formations.
John
Another way to ask the questions is to look at the permits since leasing covers the surface of the earth to the center of the earth without a depth limit clause.
Over the last 400 days there have been 113 permits in Stephens county. Of those, 56 are for Woodford, 20 are for Sycamore, 3 for Springer, 1 Sims 2, 1 Rowe Up, 7 Pontotoc, 8 Permian, 2 Mississippian, 8 Loco, 1 Hoxbar, 2 Dornick Hills, 2 Deese, 1 Armstrong, 1 Aldridge.
What group includes Sycamore?