John, yep that was me in DHS 1961. Paul
Yes it’s taking forever! But if they decide to go for Springer wells in the future it would make up for the long wait! Sure hope they will!
Jen, the location exceptions are interim, apparently they are now on the docket for final orders. I’ll let you know if I find anymore info.
I’m thinking they might drill north and do Multi-unit Springers with section 8.
What do you all think?
http://www.forbes.com/sites/jessecolombo/2014/06/09/9-reasons-why-o…
Mike, I have received similar offers for sec 17-2N/4W. Tempting but I’ve just got to see this thing through.
Interesting that the article you linked to was published way back in June, months before the current swoon began. It is also interesting the way different drillers have managed the price drop. Newfield has made much of their hedges, assuring investors they could withstand a dramatic short term price decrease with previously aquired puts in the $80 to $100 range. Continental, on the other hand, booked a $433 million profit by SELLING all of their hedges a week or so ago in the belief that prices will soon go up enough to support operations. OPEC meets to discuss production quotas on November 27. The market technicians I’ve been following seem to agree that a failure to cut production at that meeting will result in $50 oil. Arguments for their cutting producion in order to support price also abound. http://www.bloomberg.com/video/opec-what-could-cause-a-cut-in-oil-p…
Harold Hamm’s divorce;
http://finance.yahoo.com/news/energy-giant-ceos-ex-wife-appeal-1b-d…
Bruce - I recived the same letter from Recon. No mention of of any specific location. Threw it in the trash.
Hutch,
Me too with with another ten wells planned into
the section. Was just amazed at the question about going higher.
Thanks sooner! 21-2S-4W
SJK,
Per map in last Continental presentation, your acreage is prospective for both the Woodford and Springer. Most likely they will be pooled separately. You might be able to pick up a little cash for each zone.
Anyone heard of Recon Resources, out of Dallas? Offering 2k/acre and 22% royalty to lease our minerals. One problem, no mention of Sec,Twp or Range.
Would you take a quarter royalty with no bonus on 1/2 acre in stephens county? Offer from bearcat??
Linda, I negotiated the Top Lease on our 34-2N-4W property and they agreed to all of our clause language, %, and bonus. They would not agree to paying the bonus all up front and wanted to pay 20% now and the rest at the conclusion of the current lease. I told them “no deal” and that I knew of others that received the bonus up front in the same area from the same company. Hmmm?
Jerry, Did the same…Bruce
Anyone know the status on the new Mashburn wells?
Another two weeks gone by and no reports of Oceana (sec 8 & 17 1N 5 W , Stephens). Two weeks ago the drilling equipment was removed. anyone?
SJK,
The sec-twnp-rge is needed to give a definite answer. It becoming more common in Stephens County to receive some bonus money with 1/4 royalty. Small companies trying to acquire a non-operated interest are usually willing to pay a higher bonus than a lease broker representing one of the operators in the area. Generally speaking, if you are considering no bonus you are much better off waiting to be pooled.
Kirk…maybe we got them to pay all the bonus up front because it was only about 1 1 /2 months until our first lease was up, reckon? When is your first lease expired? That’s the only reason I can think of that would make a difference.