I saw Thursday that BP had an intent to drill there.
Also, I saw Charter Oak had one at Section 18 5N 1W on Saturday. Can anybody see what kind of bonus they were offering there?
BP bought out Charter Oak in that area. Poolings have been in the range of $175-200 3/16hs. BP has a new pooling hearing pending for 18. This is gas territory, so will not see the big offerings that you see farther to the west.
I certainly yield to Ms Barnes on this subject but BP is making very good wells both oil and gas in their play west and south primarily of Purcell. 6N-2W has been most active but 6N-1W and even 33-7N-2W have made good wells. One and two mile laterals are normal and of course since the law was changed last year to allow two mile laterals in all formations they have become even more productive.
Also keep in mind these are tight holes and very little production information is available at the Tax Commission and even less at the Corporation Commission.
Those pooling numbers are too low at the prices quoted. This is a strong Woodford play and I believe ripe for expansion between SCOOP AND STACK…but what do I know. We’ll see.
I thank you both for your opinions and knowledge. One thing I have learned, is 20 years is not that long in the timeline of oil and gas development of an area! There is nothing like the thrill of the chase!
Can they “tight hole” production information?
I am under the impression they could “tight hole” logs and the 1002A only.
I believe they can “tight” hole information until it gets to the Oklahoma Tax Commission where it then becomes available.
Delays of reporting 1002As can last for months and months at the Corporation Commission…at least in my experience.
See my response in Forum.
Do we have any completions in 5N 1W or 6N 1W? I know there were some intents to drill there and wonder how they did?
Yes, there have been new wells, but you didn’t give section numbers, so can’t answer specifically.
You can look up progress on wells on the OCC well records site. They will be listed by the surface location. Test
Sorry I could not remember which sections they were for sure. I know 1 of them was Section 7 5N 1W. I think another one was 18 6N 1W
You can look them up on the well records site listed above. Type in 0705N01W in the legal location box. The Autry 5N 1W 5 1HX was spud in November 2018. Takes about four months to drill and complete the well and then another four months or so to hear anything about it posted in the public.
BP bought 1806N01W, but I do not see a permit yet for it.
I saved that link. It is a great tool to see whats going on! Thanks again!
Hi Marta,
Wondering if you wouldn’t mind answering a question. I think I’ve read that BP is - or has been - buying leases from Charter Oak. Does this mean BP is buying leases that are not, yet, in production? And/or is BP buying up leases that are in production? I have mineral interest in 0805n01w; I’m currently receiving royalties from the Oasis well 0505n01w.
Thank you…Jason
Charter Oak works for BP.
Can you explain that please? Was unaware Charter Oak was connected with BP- thought they were just local independent??
Chance: You may know something new that I don’t, but Charter Oak is an independent company founded by Joe Brevetti, PE. BP and Charter Oak may have an AMI covering portions of McClain County.
Jason: Charter Oak started out several years ago, bought leases, drilled and operated wells on some of those leases, then sold both developed (in production) and undeveloped (not yet in production) leasehold to BP.
Charter Oak has not just sold exclusively to BP. My lease they held went to EOG
Sorry. I was thinking of of different company. You’re correct.
Charter Oak was in McClain county before it was really cool ! I think the last few years they were mainly packaging up land for BP and the bigger horizontal players. Maybe drilling a few straight holes to get some things HBP to reassign to bigger players later for big money Some of the smaller fly by night companies are front running Charter Oak offering people cheap bad leases, and then leasing to Charter Oak. Just my opinion watching for years. I think Charter Oak is working farther east as time goes on. There is a food chain in the business, just like the fish in a lake. Don’t be a perch !
That theory makes some sense. I found Charter Oak to be very borderline in their business practices in my dealings with them. And have found I am not the only one with that opinion. But as always , if there is $ to be had, then game on. Unfortunately, at times it it at the expense of others.