Look at the rig counts in the Permian. Hardly drying up.
Does anyone have any more information on the oil rig explosion near Mentone that killed two workers--specifically the company that owned the wells?
Prayers to the families of the workers who passed and to the ones injured in the loving county accident.
We just got our drill permit this morning so now just wait for the money.
When the well is drilled for oil does the driller get gas also a a by product from drilling.I'm new to oil drilling .
There is normally a certain amount of associated gas with any oil production - volumes (gas to oil ratio) varies.
There may also be NGL (natural gas liquids) that would come from gas processing plant if that set up is in place.
when a well is drilled about how long will it pump oil and does it give more oil when fracking is used compaired to conventional drilling.
Can write a book on that subject but frac'ing is what makes these horizontal wells economic.
Well life can be over 20 years assuming no mechanical problems.
But one needs to remember that their will be major decline in production over first few years until a "flat" production (low rates) is achieved. Some will say that you will get about half of the total production in the first 18 to 36 months of production life.
This decline is normal for these types of reservoirs.
The section I have interest in is in Loving county and back around 1986 they were going to put a well down about every 5 acres there is 640 acres.The preson doing the drilling put 6 down and the price of oil was in the area of $11.00 a bbl and they shut it all down,now it's starting up again and Anadarko said 3 wells and the section is long and that woild be good for fracking.So I'm getting old and hope to see some oil momey to enjoy and not used for a nurising home.
just got word from a land man in Loving County and regarding information on a W-1 search that comes up as Mapping I'm told it takes around 6 weeks to turn around a permit to Drilling,so I guess we have a few more weeks wait.Any one have any experence with this?
Permit approval may take place much faster than 6 weeks. Depends on "problems" with the whole permit process and related paperwork. Tx RRC very picky on these issues.
Once permit is approved, who knows how long before rig is ready to move onto location.
We have 640 acres under lease to Shell/Andarko. Anadarko it seems is getting ready to drill on the land.Were just waiting for the wording on whe W-1 to change from Mapping to Drilling Permit. The lease is up in March 2015.This morning a Shell Land man contacted out Trustee and offered us $2500.00 an acre for a new lease. Don't they now there getting ready to drill now and we can't make a deal.$2500. sounds pretty good but I would rather see a drill and the income from the oil.Whats the forum have to say ?
"I would rather see a drill and the income from the oil"
I agree with your thoughts William,
Clint Liles
Can you explain why drill is better, Clint? I am not questioning it, but wondering. About a year and a half ago we got a $1500 per acre payment for our lease in Loving County. No drilling yet, as far as I know.
Hello Shayne,
Just my opinion,,, but I know of people that have had a well drilled and have gotten and are still getting royalty checks for 35 to 45 years. For instance I have been getting a royalty check from a well(drilled in 1979) in Wise County, Texas for 35 years and it is still producing. Of course the checks are not as much as they were when the well was first drilled but its still like Christmas every month. It's called mailbox money. I'm not saying that I don't like bonus money because I do. But the royalty checks just keep coming on some wells.
Clint Liles
Fair enough, Clint. My family has gotten checks for years for the surface to 6000' minerals. The 6000' and lower is a new thing. And they seem to want to keep leasing every three years, with the lease offer going up each time. So I have no idea what they might find if they actually drill a well below 6000'.
William, They have more acreage than they can drill. I would try to get the price up and sign an extension, unless you are confident you can find another company that will come in and lease and drill. Really depends on how close you are to the hot areas.
Yes it seems that they have more acrage than they can drill BUT getting a driller to commit to a new lease and drill is almost impossiable they won't commit to doing anything they just want to hold on to as much land as possiable.
Can you tell if there is any activity at Lease Name Bohlander 33-95 in Loving county.?