Is anyone aware of any recent production activity in Martin County, TXDOT, T1S, Block 37, Section 25, NW/4 or vicinity thereof? I’ve been offered a participation proposal (via expensive AFE) along with an offer to sell my interest at a price not supported by the AFE. My gut says just go non-consent; at the same time there may be value to bring in outside parties to share the participation risk. It all starts with economic expectations, which I have no info on. Any available info greatly appreciated.
BTA Producers has 3 producing horizontal wells ending in the northern part of the NW 4 of Section 25. API 329-44053, 329-44054 and 329-45005 production is all commingled into lease # 56510.Permits were approved for wells 329-44052 and 329-45017 but as far as I can tell those 2 wells have not been spud or drilled. http://webapps2.rrc.texas.gov/EWA/specificLeaseQueryAction.do?tab=init&viewType=prodAndTotalDisp&methodToCall=fromGisViewer&pdqSearchArgs.paramValue=
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There’s a whole ton of activity there That’s why you are getting AFEs. Wells drilled by BTA and by Cutbow. Looks like 10 DUCs total. Ok, production activity…to make judgments on AFEs…gotcha…
Clearly you chose not to lease this to anyone. Which in Texas I get as an option, as you will be back in the wells after 100% payout assuming they don’t cut you out with a no-perf zone and allocation etc. I don’t know, if it were me I’d either be leased or be participating and if I had no way to judge economic assumptions I would 100000% be leased. Just sayin. But no matter, I realize sometimes the party takes you places that you didn’t really planning on going.
Curious…AFE from which operator and for how much?
fwiw here is a map. Pioneer has some wells just to the West (Beal-Snyder and Oldham-Graham). They are a mix of 2 mile and 1.5 mile. The red blob on map. The plot on the right is the average of those wells with a forecast through it. They make about 21,000 barrels peak month and look like they would make about 500,000 bo in their life. If you wanted some general idea of what wells around here are doing for economics.
Cheers
Many thanks to Clint & NMOilboy. Your research has helped immensely & affords a new approach to my situation. Best Regards …
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