Offer to buy NMA It is in Stephens County; section 9, township 3s, range 4w. The property has never been drilled. What is going on in this area? Is there drilling activity? I think there are some new wells to the south but I don’t have any data on them. Any information about the area would be greatly appreciated.
BTW 35 net mineral acres.
Three old wells back in 1958, 1959 and 1985.
You are probably getting an offer because someone knows something. The offers usually come before the bit and in my experience have been low compared to the potential of infill drilling or a new reservoir. That is how they plan to make a profit.
Continental is drilling horizontal wells in the township. It has three infill wells permitted for sections 1,12,13.
What does it indicate if someone is building large pads all around the section? Is there any information on section 3, township 3s, range 4w?
3-3S-4W already has one well by Continental Resources, Ritter 1-3-34H drllled in 2014. If there are new pads, then the may be planning more wells. But at the moment, I do not see any new OCC case filings that would have to be done first. Or the pads could belong to something completely different. Time will tell.
Sections 13,12, 1 have new wells by Continental. The pad(s) may be in 13.
Thank you so much. Was the well drilled in 2014 any good? I was wondering if it was oil or gas.
It was an excellent gas well in the Woodford reservoir. Estimated ultimate recoverable by one source lists it at about 15BCF. It has produced about 8.45 BCF so far, so lots more to give. The section has the potential for infill wells should Continental choose to do so.
You were right new offers coming out of blue. The say they will beat current offer. I forward when I get them. Of course, they’re still downplaying it. Section 9, 3s, 4w.
Any info about the horizontal in section 1, 12, 13, 3s 4w. You mentioned new wells. I was just wondering if they were any good and were they oil or gas?
Continental drilled the Connell 1-13-12XH well in 2014. It had an estimated Gas EUR or 14.2 BCF. CUM as of Nov 23 was 8.4 BCF with associated condensate.
Continental drilled the Connell 2-13-12-1XHS with a spud on 10/14/23. No production info yet.
Continental drilled the Connell 3-13-12-1XHS with a spud on 11/23/23. No production info yet.
Continental drilled the Connell 4-13-12-1XHS with a spud on 1/2/24. No production info yet. They will probably frac all three after the last one finishes drilling. I do not see a rig on location at the moment.
Or they may pause for a while and frac when gas prices rise to a more healthy level. Time will tell.
How about S2-3S-4W? Any new activity?
@John_Moseley Continental just completed the Solace 1-2-1-12XHM 8/9/23 in the Sycamore.
For those of you on Energy Link or MinIQ, you can get the statement downloaded.
Looks like the Solace well is one township north.
Ooops, sorry. Typo on my part.
Nothing new in sec 2-3S-4W. Gentry 1-11-2XH was drilled by Continental back in 2015. It had as estimated 21.7 BCF and has Cum Prod through Nov 23 at 11.2BCF, so about half more to go.
If you have your name and address and description of your acreage filed in the county courthouse with the recorder of deeds and probates, then you will receive notices for any new cases filed with the OCC for new drilling.
I do not see any new filings at this time. If CLR is happy with these infill wells in 1-12-13, then maybe they will head to the west when gas prices improve. Time will tell.
Thanks! We have an interest in the Connell wells as well. CR permitted another Gentry a few years ago, but never spudded. Will keep watching.
Thanks again.
How does a fault in the section affect mineral rights value? What does it mean they’re checking a fault in you section?
Most sections in this area are faulted in one zone or another. The answer to your 2nd question is usually they made you an offer and you have shown interest or agreed to it and now they are out trying to find a buyer for them because they don’t have the money to pay for the purchase. So that is their excuse. The fault didn’t just show up, LOL.
“Checking a fault” may just be a throw down phrase which I tend to take with a grain of salt.
From a geologic point of view, quite a bit of Oklahoma is highly faulted. The size and throw on the fault can either help or hinder the value of mineral rights depending upon where it is, how deep it is, what the pressure offset is, the alignment of the wellbore, the intended reservoir, etc. Very site specific.
They used it as any excuse to back out of the deal. I had a couple of offers but they came in a little higher and talked as though it was a done deal. Really feel stupid. Thought they were a legitimate company. I’ll not mention any names but Todd was right. Live and learn.
I should have check the bbb site. They were not an accredited company. I think they’re are just flippers. Should I mention company name?