I’m going with Hamm.
John Tennison, I love your profile picture. I made reference a few days ago about my giant brain which is a direct quote from my hero, Jethro Bodene. lol. Linda, sorry you are struggling with a slow recovery. I miss your posts, so hang in there and get well soon!
Sorry my computer stopped. I’m new should I sell or lease or do nothing. Thanks in advance ?
Hutch…have to admit this crazy back of mine is putting a cramp in my style when it comes to touring the diggings. Wish it felt as good as it did before surgery. Everyone I talk to just says “be patient, it takes a long time” but I want it better right now if not sooner! lol
I was expecting the price of oil to fall since last year. If the price did fall to $70 per barrel it won’t stay there long because the Canadian tar sands will not be profitable and while that may not mean much globally, it will to the US. Some are saying the Saudis are trying to sink us but I don’t buy that. The Saudis need revenue so they have not cut production but neither do I hear of them increasing production and they do have some excess capacity. This slump will be weathered. I would also like to give a cautionary note, every panic post is counted by the public opinion pollsters and the more panic posts they count, the more articles you will see on the “disaster” leading to a feedback loop going in a direction you don’t want to see. Be calm and be of good cheer because this oversupply is not going to last forever. I expect drilling to hold by production to continue but that drilling of multi-well units may slow down for a period of time. Operators need to get those acres held by production regardless of todays price or they may not be the ones who profit from them in the future because when their lease ran out, someone else beat them by $100 an acre in the lease bonus offer. I look at this as a growing pain of success.
I am going to take advantage of the low fuel prices by flying to the other side of the world for a well deserved vacation to the ring of fire and visit some old friends.
Does anyone have information on 34-3S-4W or 3-3S-4W?
Hutch, I think we’re all a little shell shocked @ what’s going on in the futures market. That Grady group nearly always has activity. Sure quiet now.
I own 6 acres in Stephens county. 16-2south -4 West
I heard one of the tv cnbc talking heads say the oil price reduction was being done between US and Saudi Arabia to put more pressure on Russia because their income was mostly derived from oil exports.
I see nothing on Stephens, Grady or Garvin today. Is it just me thats not getting any posts.
Hey all, should we start to panic at the price of oil? Or is this just a short term dip?
John,
Who give a shxx about the price except the producers. It is manna from heaven.
SJK, probably won’t find anyone on the forum that will recommend you sell. Read back the last yr or two and you’ll get lots of input on your question. Jennifer, my heart is with you and Mr. Hamm and my gut leans towards possibility of lower prices until the nukes start dropping in the Middle East. And yes, Tom Ed, I agree with you-it’s a blessing from God and my grandpa. And I don’t think it’s over til the fat lady sings…
Mr. Kennedy-well put. Enjoy the vacation and remember when traveling afar (or @ home for that matter)-frequent hand washing
Roger…yes, it usually means they are drilling soon if not already drilling. Sometimes the Oklahoman newpaper is late reporting so it may already be happening.
10 Honeycutt wells have been approved by the OCC.
Thank you Gary, this is awesome. I am playing with google earth now. How do you find other oil wells in the area when you don’t know the names?
We need help understanding Form 1023 that was just posted for McClelland 1H-26X, SHL 2302N04W. The drilling permit called for a 10,000 lateral. It was supposed to stop at the south line of Section 35. Form 1023 shows perforations in the Woodford starting at 14,176 to 21,754 (7,578’) and the Hutton 22,249-22,254 (500’ from last Woodford perforation. Total perforation length is 8,078".
It appears to have stopped 2,000’ short. Am I reading this correctly? Does anyone know if there is a fault? Could there have been a drilling issue? Since the drilling permit listed the Hutton, why was 1023 even necessary?
While I’m asking questions, how does Newfield determine monthly prices for oil, gas and NGL’s for royalty check purposes?
Open Leland 1-18H file in Google Earth