Martha, you are wealth of information! I will try! Thank you for the speedy response!
Martha, I read your previous post. I was at Granbury TX last weekend, there is a defiant water shortage there! I walked around in the lake!
Martha, got the OCC stuff ok. Thanks. But there is no well on my section, they were trying to get to it from another section. How do you look that up?
Martha, Thanks again for the help. I tried, but cant get to it. I don’t know if its them or me having problems.
Ron, was that reply for me.
I am leased out with Calyx, does that mean I have to sign again with new company. Or they just bought the already signed leases?
Tom, Go to OCC homepage - Divisions - Oil and Gas - and click on Data bases - scroll down and click on Case Processing Web Application - in 1 field drop down and make it section- leave 2 field equals and type 26 then click add entry - in 1 drop down and make it township - leave 2 field equals and type 18N then click add entry - in 1 drop down and make range - leave 2 field equals and type 03E then click add entry - click get result.
Martha, thanks for the reply. I signed a zero 1/4 gross with them probably a year ago. You sound like an attorney, or at least someone very familiar with this stuff.
Tom, I’m paralegal who operated a large mineral trust & little O/G business for 20 plus years. You can access information, but will need to download OCC database. Go to: http://www.occ.state.ok.us/ Click on Conducting Business - drop down to Data Base Search- then, over to right and drop down to Oil and Gas. Sometimes it’s hard to download, so you may have try more than once. Let this forum know if you can’t access.
Can anyone tell me what is going on in sec 032-019N 001W? I am very new to this and don’t really understand anything…Thank you
To Tom re: Calyx assigning to AEP. My production was with Calyx & I got a letter this week notifying me they sold my lease to AEP. There was nothing for me to fill out and I got a royalty check today from AEP. Your situation may be different but I hope this helps
Tom I am sorry I did not get back to you. We had a new grandson.
Payne: American Energy-Woodford LLC; Wheeler No. 11-3WX Well; SW1/4 SE1/4 SE1/4 SE1/4 of 11-18N-03E; 383 barrels oil per day, 468,000 cu-ft gas per day; TD 14,020.
American Energy-Woodford LLC; Yost No. 17-2MH Well; SW1/4 SW1/4 SW1/4 SW1/4 of 09-18N-01E; 637 barrels oil per day, 225,000 cu-ft gas per day; TD 9,822.
Steve, thanks for information. Hope things go WELL for you.
Congratulations grandpa Ron, and thank you so much for all your well completion postings!
Martha Mc
Hello Ron, no problem. Congratulations to you! Hope everything is going well.
Payne: Devon Energy Production Co. LP; Lovell 6-19N-4E No. 1WH Well; NW1/4 SE1/4 SE1/4 SE1/4 of 06-19N-04E; 50 barrels oil per day, 133,000 cu-ft gas per day; TD 8,931.
Devon Energy Production Co. LP; Lovell 7-19N-4E No. 1WH Well; NW1/4 SE1/4 SE1/4 SE1/4 of 06-19N-04E; 40 barrels oil per day, 134,000 cu-ft gas per day; TD 9,546.
Devon Energy Production Co. LP; Lovell 8-19N-4E No. 1WH Well; SW1/4 SE1/4 SE1/4 SE1/4 of 06-19N-04E; 69 barrels oil per day, 134,000 cu-ft gas per day; TD 9,532.
Congrats Ron
David,
It is a Woodford Shale well. It will be a steep decline and won’t stabilize for some time.
Below are some graphs and a link for more info.
https://www.slb.com/~/media/Files/dcs/industry_articles/201105_aogr…
These methods are usually not employed until more conventional methods are not economical. There is no guarantee that they will continue to work on improving the production on the existing wells as they decline. It will all about the return on investment. If investing the same amount of money in a new well in a different area pays a quicker and higher percentage of a return, then that is where they will devote the majority of their resources.
But my point is that David should continue to expect production to drop on the same rate as the wells in the info I provided. He should base financial decisions on just that. I’m not trying to scare him. The production on his well “IS” going to decline. That is a fact. They may drill a 2nd (or 5 more) into the same formation and he will be lucky enough to see it again. But there will be declines and you can’t bank and depend on an unknown future.
The other formations may or may not be developed in our lifetime.
Take the money and use it wisely. I’ve seen too many increase their lifestyle to the point they are depending on it as income. Put back 40% for taxes. Enjoy 10% of it and pay of existing debt (if you have it ) or invest the other 50% if you don’t have dept. The longer the income comes in, the better shape it will put you in to support your financial future.
I promise you denial is much worse that being scared.