I’m having trouble finding the W2. J can you post the link?
I would be happy with it
I don’t remember the exact location of the Webb well. If I remember correctly it’s near ours: T & P Blk 25, Sec 73.
Anything sounds good on our side. But if you are drilling the well, what is the number you are looking for to pay out in a timely manner?
Gary, I was just being lazy! I can certainly look it up. Thanks for the links. I’ll check them out again.
232 bbl at $90 per bbl = $20,880 per day
$20,880 x 25% royalty = $5220 per day.
$5220 x 30 days = $156,600 per month
That aint chicken feed.
That was kind of what I was thinking.
JB that number may be right but you have to consider what is your percentage of that per month total. Let’s say that you have a 1/18ths interest? here is your monthly check: $8,700. but if your only getting 1/80th interest: here is your number: $195 My motto is this: anything is more than I had yesterday!!!
Stephen Daugherty,
Wade Caldwell would probably be the best person to answer your question but being there has been no other responses, I will attempt to answer it the best I know how. The RRC sets a proration on the amount of area each well is to cover. However the size of the pooling unit is going to depend upon the integrity of the oil co. If you do not have a restriction in your mineral lease as to the size of pooled area your mineral rights can be put in, or you do not have a pugh clause in your lease, (continuous drilling clause) then you are at the oil company`s mercy. They can pool your mineral rights into any size or shape area they want to just to hold your lease. I have a 60 acre block of minerals that was pooled into a block back in 1981. It was from a family inheritance leased by my mother to an oil company with no pooling restrictions. The oil company drilled a well, hit a small natural gas well, and has held the mineral rights of 3 sections (1920 acres) for over 31 years now. This of course diluted my percentage to practically nothing but the company is still holding the leases by production. That is one of the reasons to have someone who understands mineral leases read them before signing one.
I may be jumping to conclusions but it appears congratulations are in order to the Bill Everetts. A new drilling permit has been issued for Wolfjen 2H, one location west and running parallel to Wolfjen 1H. Maybe exploration is over and development is about to begin.
How many acres are pooled for the typical Cline shale well?
Wished it was north and east about 3 sections! But, yea!
Thanks to Wade and J Richardson.
When we read about a yield of XX BOE/day from a horizontal Cline well,
the big question is how many acres are contributing to the production from the well. What is the BOE/day yield per acre from the horizontal Cline wells?
Toni and Bill…
Keep us updated on how things are going. I have my fingers crossed for y’all!
Stephen-
J Richardson is generally correct. You can Google “field rules for Mitchell County, Texas” to see if you can find the minimum spacing requirements on the Railroad Commission website. I do not have time to do this right now, but will try to look later.
I am just keeping waiting for my land to be leased in Mitchell Co. Seems everyone around me has been leased, guess one day they will get to mine. Sure hope so.
Sue, call some of the oil companies leasing in the area and make your case to them why they need to lease your minerals. Best of luck Sue!
I was told no one is leasing right now…??? Is that correct? If someone is please let me know the oil companies…
Thanks.