Hi, I have a question about pads in a unit and production. I have interest in a well that went on line 5 months ago, and was producing 11mcf per day, since then more pad have been developed with a total of 10 in the future, Can I assume that from each pad 11mcf per day or close to that will be produced or am I dreaming? $$$$$$$$$$$$.
That's great! I'm glad you're starting to get royalties!
I'm guessing that you're receiving royalties based off production from the Marcellus Shale, from horizontal wells. If that's the case, then yes, you are likely to receive royalties based off the rest of the wells that are going to be developed. However, anything can and will go wrong, so don't start spending it now. Wait 'til the checks clear the bank. Congrats!
For the benefit of those who don't know, would you be willing to give everybody an idea how much you're receiving in the way of royalties?
Another thing to remember, most wells start off producing a lot of gas, then after a few months produce less and less. If they are going to keep adding wells, that's great, but each one will have a decline. And remember to save some to pay taxes.
Hi, Thanks for the replies. No I have not received royalties as yet or has the other parties in the unit. Four of the pads have been drilled and fracked, the other's are in process. The units are in Doddridge County WV, Grant District. Antero Resources is doing a lot of drilling in Doddridge and we that have signed leases know how backlogged they are, so we are trying to be patient. I do know one thing, having signed 14 leases with them, they do pay bonus fast, in most cases within two weeks, so with that in mind I will wait. I have been on this forum for over a year now and the info I get tells me of the decline in production. also, the bonus money that I get, goes into a savings account for taxes. oh, I might take the wife out once in a while for dinner but with Obama in the Whitehouse, I will not overspend. I pay Estimated taxes based on income that I hope to receive. Again thanks for the replies. 11mcf per pad x10 pads, wow.
That could be some good royalty money coming to you. Congratulations! 14 leases? Man, you've got some serious experience with Antero. I hadn't heard that they pay quickly like that on the bonus. Thanks for the info.
Kyle:
Most of my interest ARE small, but over time they all add up (hopefully). I never had too wait over a month for bonus money and most came 2-3 weeks after signing. I still have not received a Division Order, and I understand that this is the first step before receiving a royalty check.
Arnold
Who was the landman that you worked with? Or were there several?
Kyle:
There were several, however, Mike Smith was the one that I talk to often. He works out of the Bridgeport WV office. If you don't mind, why do you ask???
I'm just trying to get a better idea of who's working where. Also, some outfits will not be organized enough to have one person deal with the same person on multiple interests. So mostly it's just out of curiosity.