Below is the Panther pad on Friday. Several tankers loading and gas connected to Energy Transfer.
RRC shows on February 27th Magnolia filed January production reports for both the Gold and Blue wells under Pending status but reported zeros in all categories. Not sure why a report would be required if there hadn’t been any production. In any case it looks like things are happening now.
Magnolia combined the original Vandergrift and Eisenhower Units to drill those allocation wells. If anyone in those original units has gotten division orders for the new wells I’d appreciate knowing the kind of formula Magnolia is using to allocate the production.
The plats Magnolia filed with those permits showed the Vandergrift Unit would have 89% of the productive lateral of the Gold well and 64% of the Blue well. I’m wondering if that percentage was applied to the share each royalty owner had in the original unit to allocate the new production, or the feet of the new laterals that actually crossed an owners tract made a difference?
Thank you for update. All production from each of the Panther co-op wells shall be allocated to the existing units and existing additional lands as follows:
Vandergrift Unit 65.440670 percent
Thanks for sharing the breakdown. I don’t have any personal interest there, just trying to understand how allocation wells work.
Did folks in the two unit sign a production sharing agreement or Magnolia just say that’s the how royalties would be divided?
Also curious if they said how those percentages were calculated. The only thing on the plat that looks like it could be called additional lands is the land in Lake Forest subdivision that they marked as “External Tract”.
Magnolia just sent out an agreement for everybody to sign with percentages on it.Have been trying to talk to someone about percentages and about acreage being cut but have not had contact and no call backs
Below is February production Magnolia reported for the two Panther wells.
Since they reported zero for January you can’t tell if these February numbers reflect each well being online that full month or the same choke setting being used on each of them. In any case they look like very strong gas wells making a lot of condensate.
When Magnolia gets around to filing completion reports they may give a better idea how they compare but that will probably be a while.
Below is production Magnolia reported on the Panther wells for March.
Apprciate knowing if you learn details on how Magnolia makes royalty allocation when they combine old pooled units and added some non-unit acreage to form new allocation units.
