Received a well proposal from Capstone Land Co. Anyone know anything about them?
Looks like they have OCC cases in sections 3, 10 and 15 as well. You could look at the pooling for 15 as an indicator of relative bonus for your section. Case 202002039 Order 716875. Bonus amounts will not be stunning in that area as the reservoir is thin. You can lease (best to get an attorney’s help to negotiate better clauses in the lease) or you can wait for pooling. If you got a letter, you do not have to respond. It is for informational purposes.
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See my posts for Ellis 5N 1E 7 1HX for December 2020 then June 2021. Capstone of Mustang OK was our Landman for Charter Oaks Production, the driller. Production is nothing like the ‘4W’ Range, or Blaine/Kingfisher Counties, but I’m finally an “Oil Man”.
@M_Barnes I’ve noticed the bonus amounts in this area, like you mentioned, are not impressive. I chalked it up to a lack of competition (not many folks actively leasing recently), but you mention that the reservoir is thin. Would you mind expanding on what you mean by the reservoir being thin? The Sharp 10 in 5N-1W well I participated in produced over 100,000 BBL in the first 7 months (plus 150,000 MCF gas. The BP Norton well has produced about 275,000 BBL in just over three years since it was completed. There are other strong wells in the area as well. These wells aren’t quite as good as the best wells in 4W, but they are as good or better than many 4W wells. I feel like the perceived inferiority of 2W and 1W relative to the core in 4W isn’t as bad as the results would indicate. But I am far from an expert so would love your input. Is it just that the Woodford is literally not as thick generally in 1W? If that is the case what explains the very strong results of Sharp 10? Maybe just a very well executed well by the producer?
“Anadarko basin - SEG Wiki” (take off quotes to open) Look at figure 2 (you can read the rest for fun?)
Bonus amounts have to do with operator competition and perceived value of the area. There are several benches in the Woodford. The thickest part of the Woodford is in the deep Anadarko basin. Your area of McClain is getting very close to the Seminole Uplift and the Woodford gets thinner over there to the east until it is cut off by a major fault. Look at figure 2. Sharp was a carefully drilled well that stayed in the bench they were targeting. It was good for its area.
There are some maps available to look at if you squint or you can buy them that show the BOE for the Woodford. The really good wells are to the southwest of you. “Woodford – OG-Maps, LLC” Look at the one labled Oklahoma Scoop Woodford Shale BOE.
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