The city buses in DFW area have been running on CNG for the pass few years. Some of the 16 wheels are now running on CNG, so the trains may be next. A new design of the engine is what helped get more power out of CNG gas. I’m still not sold on it as I haven’t hooked onto a loaded cattle trailer and tested it. I’m still wondering if it will burn the valves in the engine like propane did. Guess time will tell and then I may get one.
I feel the biggest part of the CNG will be sent to China since they have a big part of the gas fields north of Woodward, OK. If it wasn’t for government permits, I think it would all be shipped over there.
Virginia, We will not see a drastic raise in WTI, but Brent crude and WTI are not going to run in tandem. This is hard for us to imagine, but the Brent is becoming the World oil price and may see volatility in price as World oil production and hostilities create extreme rise and fall. I learn this from the stock investment side of my work. Now, WTI will be the price the US will follow and focus on and hopefully it will not be influenced by Brent volatility. What this will do is allow the US end users to purchase oil and gas without the huge worry of up and down price. Our trucking fleets are being converted to nat gas. GE is helping convert coal fired energy plants to nat gas and train locomotives to nat gas. On the Oil side, the US will export Brent at the World price which will stabilize profits for our oil companies allowing for future advancement in new technologies and discoveries while selling the WTI locally and keep US manufacturing and energy consuming companies competitive in the world markets of exporting products to fast growing countries like China and India. Like Martha B, I’ve lived the past 40 years with the boom and bust and see a better tomorrow, because we have learn from our past mistakes. The pendulum is swinging back in our favor and it’s about time.
Martha, a lot of good info to digest you write about, and one thing I keep in mind is the old saying that while we do learn from our past mistakes, we still fail to understand all we know about them. It will not be a dozen years before WTI surpasses Brent, WTI has been narrowing the gap at a pretty steady rate for many years, very slowly, but forever creeping closer. Technology we have today was unheard of, undreamt about half a dozen years back. And the railroads and their system managers have ruled out natural gas as an alternative to deisel several times. The truck and bus fleets available and running in the USA, and in abundance in places like Argentina and a few others, are disasters. They simply do not produce the required energy to make anything work the way we need it to work. Natural gas has its place, but it is not powering a 120 carload railroad or heavy passenger, stop and go bus system. Meanwhile, I am of the opinion that a briefcase size “atomic energy” power plant is in our future. If I wanted to know more, I would bug GE and Seimans until they admitted to the truth of their creative activities. My major concern in a briefcase sized atomic energy plant is that it also brings in the atomic briefcase bomb, and this has probably already happened anyway. It is probably ticking.
Virginia thanx, it is yet another problem/challange waiting for a solution. It will come. China? The polution is so bad there, I had friends who were at the last Olympics, it is terrible, and so massive that it is also our problem. Where do the Chinese get the money that we borrow from them? We give it to them. LOL
Hmmm. While I don’t absolutely assume Exxon-Mobile to be a 4 letter word, I also keep in mind that it is the <illicite?> child of Standard Oil and John D Rockebelter, the first one, who was wrong so much that he had to go around bombing the competition into either oblivion or submission. It is a little foolish, however, to think we in Logan County should doubt ther word, but I do not see anyone at their service centers washing my automobile windshield yet, and doubt it will happen. E-M is probably right by accident in their theory that the best place for natural gas power is in electric generating power plants that require more of a constant and steady motion than railroad locomotives and city busses require. Makes sense to me. I do not see any airlines jumping on their locomotion.
I honestly believe Westport must surely be lined up for Obamacare, in the same line that a few other power scheming monsters bit the dust. If there is anyone on the digital planet who openly welcomes any thing even remotely related to any OEM free with purchase package, I might read past paragraph 2 of this article. Other than that, I do not even want the “FREE” 30 Trial of anything.
Martha, I thought a non-consent owner that was not named in the pooling order could get a working interest in the well without having to pay their proportional share of the cost to drill the well.
If you look at your leases, it will usually give you the acres that you leased. If you have lots, you my have 4 or more acres less. Correction of county lines may have a lot less. The pooling may say, 640 A spacing, but the section may only have 632 A. This will not be corrected in the pooling orders, but should be in the division orders. You will need to prove to the oil company how many acres you have. Sometimes people think they have all the minerals under the land only to find out that someone prior to them have sold 10 or so acres. Check the records at the co clerk office. Usually the oil company will survey the property prior to any drilling in the area.
Ok so this is done with division orders? Is title opinion needed? With division order, Is ownership proof submited to the corporation commission or to the oil company? Is the unpaid bonus paid at division order?
Weston, There are many types of title opinions - lease acquisition title opinion, drilling title opinion, division order title opinion - all should agree. Proof of ownership should go to the Oil/Gas company that has the incorrect title opinions. A supplemental title opinion can be issued after title curatives have been made. However, it’s best to get an attorney to examine what type of proof of ownership you have so the proper legal title curative can be made and presented to the Oil/Gas company according to state statutes. The Oil/Gas company will not take your word or documents for proof of ownership until title has been legally cured or corrected, recorded, presented and examined. Money due can get interesting when a well has been drilled, because the unleased or non-pooled mineral owner can have an automatic working interest in the well and can pay their proportionate share of well expenses or sell the working interest by assigning the working interest to another party for an agreed amount which can be much more lucrative than the unpaid lease bonus.
Are you currently leased? What do say you have and what are they claiming? Where did you get your numbers? Why do think the ownership in this section is “very complicated”?
It sounds like you are in the leasing phase then, correct?
If you have an ownership report, ask them to verify the chain with their report. If you don’t, it sounds like the acreage you are dealing with would easily justify having one ran. I’d also recommend consulting a professional to negotiate the lease terms.
Watching Ben Bernanke speech on TV this afternoon, while the ticker shot the markets past us, it was really intriguing to me how January’s market price for WTI fluxuated so rapidly, I had to wonder what in the world was going on? It shot up and then fell back down several times in just that few minutes time. Must have had speculators wondering if Bernanke was in charge or what? Kinda funny, in a way, I guess this is why many of them resort to short selling when the times get looking explosive. LOL What a way to live.
Martha your statement “**so the proper legal title curative can be made and presented to the Oil/Gas company according to state statutes.” ** Does this mean there is a time frame of how long possibly?
Is this something that can be worked out after drilling without costly legal battles? Any suggestions of a good title opinion professional for a very complicated section?