Odd shaped land with curves and angles. Off about 45 acres. Numbers off compared to various lease offers with ownership reports and our figures from what we can tell.
does anyone know if there is a pipeline planned for the west side of western between cr 67&cr68?
Can someone tell me? On OCC, well search results, under status it says “air conditioning” . What does this mean? The well are still producing and I have never seen this before.
OCC Order 618946 I got this OCC order. In the Relief Granted section, it list options requiring election on different options. 6 a. Participate: with numbers of cost; 6 b. $775 per acre and 3/16 total royalty; 6 c. $650 per acre and 1/5 total royalty; and 6 d. No cash bonus and 1/4 total royalty.
Does anyone have any thoughts on these options? Has anyone ever received an OCC order like this? I have a short time to respond. Any thoughts or help is appreciated.
Vern, this is very common language for a pooling order. Yes, you must respond quickly. I usually pick the 1/4 royalty and no cash myself if it will be a Woodford or Miss Lime well. If you need a little bit of cash right now, you can pick the $650 and 1/5. Write the company listed in the letter, quote them the Order #, a description of your acreage and tell them which option you choose. Send them a W-9. Send it certified, return receipt. Keep a copy of your letter. If you friend me, I will send you a draft of the letter I use. Rick usually sends a copy to the OCC to file (without the W-9). I haven’t gone that route yet.
Martha M,
Did you find anything out at OCC regarding multiunit spacing? How they will be able to hold 2 section even if they drill only a few 100 feet into 2nd section? Seems like we are all being told something different when we talk to different people. So, I would like to know what your friend tells you.
Just another indication that we really do not know what is under our feet, even though the most highly respected of geoligists make claim to the theory that we know it all now, I must point out another recent discovery that geoligists probing Old Faithful in Yellowstone National Park have decided that the Magna of Yellowstone is at least 2 and one half times larger than they thought this time last month. It could bring about a major cotasttrophy that would be 2,000 (two thousand) times as destructive as Mount St Helens, and when, not if, but when she blows most of the mid-west USA will be un-inhabitible for at least 10 (ten) years. This is bigger than the New Madrid earthquake geoligists swear is long overdue. Point is, we just do not know from one day to the next what is going on under our feet.
Virginia, I was called into EDJ to operate an office this week and just got home from work. It will be next week before multi units research is completed.
Vern,
The choice of which option to take can be pretty complicated. Most may depend on the production rates of the well and how you value the timeliness on getting your money. Throwing the bonus (and/or all the income) into good mutual funds can create another variable. But most spend it!
The attached calculations are based on a modified version of a spreadsheet M. Barnes created. (THANKS, Martha)
I plugged in the production test numbers from a nearby well and your options. This is based on 1% severance tax (4 years or until the well pays on Horizontal wells), $90 oil and $3.50 gas, and your 6 acres.
When a subsequent well is drilled, favor then tilts quickly to the higher RI.
Disclaimer, I haven’t tested all of these calculations 100% yet. If anyone sees something suspect please let us know.
M Barnes and Rick Howell, thanks for the feedback.
That is what I said. There shows to be a rig on it now.
However the spud report is not on OCCs site. They are required to submit the report within 14 days of spud. But I don’t know how long it takes to get the report online.
I have mineral interest in logan county sec 15-19N-2W. I would like to know if anyone can help me with info on this like production and any other activity
does anyone know here, is there any source from where we can get production report of company like how many barrels of oil they are producing each day from each well and section?
Kanul,
15-19n-2W No active production. Permit issued to Devon on 11/4/2013. I don’t show a spud report, but there shows to be a rig on it now.
On production reports info. Depending on your goal there are some things out there.
Sources
Pangaea
Drilling Info
IHS
Oklahoma Tax Commission
Oklahoma Corporation Commission
None of these will provide the daily info, however. Only the operator will have that and it is almost impossible to obtain without a working interest in the well.
The others will have historic reports that will usually be behind 2-6, months.
There is some data on the OCC which may allow you to get data 1-2 months behind.
All of it will be monthly so you have to assume how many days and calculate accordingly.
Test reports are listed on the completion report. However a lot of things can impact the accuracy in gauging real-time production.
Some of these are expensive. Some are extremely time consuming to search. It is very common for all to have some missing data.
thank you rick but according to my info. devon has already rig there.
In the AEO2014 Reference case, the United States becomes a net exporter of LNG in 2016, and it becomes an overall net exporter of natural gas in 2018, two years earlier than in AEO2013. U.S. exports of LNG from new liquefaction capacity are expected to surpass 2 Tcf by 2020 and increase to 3.5 Tcf in 2029. Net pipeline imports from Canada fall steadily until 2033, and then increase through 2040. Net pipeline exports to Mexico grow by more than 400% in the Reference case, with additional pipeline infrastructure added to enable the Mexican market to receive more pipeline natural gas from the United States.
At this point, in studying the markets potential worldwide as opposed to Logan County production, I have to wonder if the United States being the leading contendor in pertol holdings under our feet dominant in the entire world, is this a case of actual holdings, or is it more of a case of promotion and psychic education of the rest of the world, because the Petrol gurus pulling the strings just want the rest of the world to believe that the USA has more petrol than anyone else in the world? Do we want China or Russia to believe that they have as much petrol potential as we? Do we want them drilling for it?
Natural gas in a box…http://www.fool.com/investing/general/2013/12/21/1-surprising-winne…
It is mildly interesting and somewhat entertaining to note that the newly formed geologically enhanced map resulting from a data merging of what has been and what we think we see today. My Grandmother Wright always told me to believe absolutely nothing I hear and only a small part of what I THINK I see. My problem lies in the fact that the early data is a theory, theory, that this all began 2.6 billion years back, when Oklahoma was part of the tropical Southern Hemisphere. So I am currently wondering if Slawson is still a part of Ruffed Grouse, or has Osage taken it over? Osage’s revelation that Logan County, according to how I read their statement, (what is NOT said vs what was said,) led me to believe that Osage believes that Logan County production the past few months does not meet their high expectations, and they are going it alone? You know what, I am getting to really like these Osage guys. Let’s go.