What is a good website to find oil prices ? For the month? Thanks in advance
Any oil prices on a public site will be generic for a certain type of oil. Your particular price that you get paid will be location dependent and be related to contracts by the operator, quality of the oil, available pipelines, etc.
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Thank you for the information
Depending upon your state of interest, there may be websites that are more locally focused.
I was confused about payment for March … it went down which I understand but I expected it to go down that low for April not March? My area is in Oklahoma Canadian county…
Prices were already headed down in Feb, March and then bottomed out for a few days in April. By the time you get your check, you already have a lag of about one month for oil and two months for gas. So a March check would possibly have Feb oil and Jan gas prices. Look at your check run statement that shows what months were paid on. What you actually received is tied to the contracts that your operator had for your area. https://www.eia.gov. I usually can find Cushing generic oil prices at the eia.gov site. It wasn’t working this morning, but here is another site. Crude Oil Prices: West Texas Intermediate (WTI) - Cushing, Oklahoma (WCOILWTICO) | FRED | St. Louis Fed. If you chose the 1Y option on the graph, you can the general downswing started in January.
Yes ma’am the check was for March oil … and from what I saw which may not have been too correct was prices were still above 24.00 a barrel then ?
Also thank you for posting those websites will check them out
The price on the stub is usually an average, but might be the day it was sold if only one well. Again, it goes back to the contracts your operator had with the carriers. Also, your grade of oil will matter. High sulphur oil is going to get a lower price due to the cleaning up it needs.
Thank you for your help
It’s been my experience that oilprice.com is a great place to get negative news on the oil/gas industry in general. That is, if you like bad news. I wouldn’t look there for information.
I find this to be a good reference for Oklahoma & Texas prices.
https://www.enterpriseproducts.com/customers/crude-oil-price-bulletin
Here is another handy one - you can search daily prices by region and by type of oil.
https://www.sunocologistics.com/CrudeOilPostedPrices/CrudeOilPostedPrices.html
Thank you all … one more question if you can help me understand … The gross production posted on otc … should it match the oil production on royalty statements? I understand the NGL and NG won’t but the oil should?
It should match in the general range over several months. Look at the transporters because some owners can take their product “in kind” and there might be more than one transaction in the month or set of months. It may not match barrel to barrel, but should be reasonably close. Also, some of the condensate could be hiding in the gas or plant products amounts for some operators and some is reported as oil for other operators. That might be another reason why it might not be a perfect match. Also depends upon when they pick up from the tanks versus when they sell product. Probably a few other reasons why they may not match perfectly.
www.oilmonster.com/crude-oil-prices/ has prices for just about everything, even Utah Black Wax, (a real oil type).
Thank you again for your info … I have compared and it was more than just a little difference… I will investigate further
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