I have a lease due to renew in township 145 Section 10 Range 97 and would like to find out if there is any activity in the area and what the going terms are if anyone knows please advise.
Thanks
I don't think you have a lease renewal coming up because you already have a well that started producing 6-30-2009 with 41,440 barrels of cumulative production as of the November report. The original operator of your well was Tracker and the current operator of your well is HESS. The bad news is that you got the runt of the litter. The wells to either side of you have produced 115,667 barrels oil and 107,086 barrels oil.
The good news is that I think they won't be satisfied with the production of your well and one day you are going to get another well and it will probably be drilled by Hess and I think Hess drills better wells. I can't say when a new well will be drilled because the operator need not hurry because the spacing is held by production. It might be 10 years before a new well is drilled.
Hess is actually drilling additional wells (to the existing wells) in your area right now in the 1280 drill spacing just north of yours where they have about 6 permits. I would be hopeful that Hess will drill from T-146-97 section 34 down through section 3-10 T-145-97 [your spacing] from their multipad in 34.
You should have some royalty coming on the 41,440 I would collect that and keep my eyes on the drilling in the area.
Thanks for the quick reply but I have to apoligize, I thought I had that number memorized but I went back and doublechecked and it is range 98. Where does one get all this information?
Thanks
From the NDIC O&G Division with a $50 per year subscription.
Ok, there are a couple of fairly new wells near you, one drilled by Hess with 34,907 bbl oil in 7 months and down to 66 bbl a day in November, another by Continental 24,015 barrels in 10 months down to 48 bbl a day in November. The Hess well has a pump on it already and the Continental well is still flowing, even so I would rather Hess drilled my well because I believ that Continental uses more of a cookie cutter approach, while Hess tries to optimize their wells instead of just drilling as many wells as they can, just my opinion from looking at alot of well logs.
I wouldn't say you are in a prime location but I think it's worth drilling. There is another well just northeast of your spacing that is in DRL status and most likely awaiting fracking. I'd say there was interest in the area but no frenzy.
Don't worry about the wrong description, it happens and it only takes a couple minutes to look something up if there is anything there, even less time if there is nothing.
Thanks for the info, I'm going to get that subscription. I hope it's easy to understand otherwise I may be checking back with you for some tutoring.