TRINITY EOR, LLC
238.0
Oil - BBLS
833
Water - BBLS
39 , DD , GIBSON J H
APPROXIMATELY 4 MILES EAST FROM WELLMAN, TX
Producing at approx 9720.0 ft.
So “yes” there is oil inside the shale and a whole lot of it !!
Lets just see if the geologist can win the race against the clock, before investors pull the plug.
My bet is going with the geologist because if these guys have already spend billions in exploration. Certainly not what you could describe as “fly by nighters”.
Haha !!
Tood a drive west of wellman yesterday. Both W&T wells still removing water. Crew onsite didn’t offer any information as to flow, any oil, etc.
Keeping fingers crossed.
Texas Railroad Commission Modernizing
Changes coming - name, rules/regulations, operations, computers and website improvements, etc. - hooray!
Josh, I don’t think its a situation of an oil company attempting to avoid the cost of plugging a dry hole … because with the high cost of leasing and drilling wells today, the cost to plug a dry hole (to the oil companies) is comparable to the value of half a cent by our standards.
Craig, thats very true. What are some possible reasons a well would be reported as a shut-in producer, with no data entry for the 24 hour test or barrels pumped before testing on the w-2? I figured they don’t want to let the results out there due to competitors, but of course that is wishful thinking on my part.
still no word ha have they run out of money? no I dont think thats the problem the oil co are trading leases looking for partners waiting to see what is going on around the wild cat field they have plenty money and when the dust settles they will have even more.
I thought they were plugging proctor 94
No updates on Proctor 94 ??
Say it isn’t so !
concho the redheaded stranger folks have drilled a well in new mexico and in is now on line 350b oil and is chocked back 150 b oil in about 90 days established field. not a wildcat field.
The plugging Proctor 94 story…sorry not buying as fact! Just wait and a little patience!
And correction. not lubbockaj.com…
www.lubbockonline.com. Sorry.
Craig,
The fact that TRRC changed the field name from “Wildcat” to CY-Jack is also a mystery. As CY-Jack it has limitations on how much oil can be pumped. Even if they drill another hole that is attached to the 1st, it will count as only 1 well and the rule for pumping will still be the same. Wished I could find more information on this formation! I was always told that no news is good news! And the the fat lady stilled hasn’t sung! Just saying!!!
Doodlebug; I’m not buying that as fact either… even though I don’t know the first thing about the current status of Proctor.
What I do know is, it is pretty much impossible that Proctor could have hit a dry hole. I think the odds that it hit dry are about one in a thousand.
Unlike Red Headed Stranger; Proctor is definitely situated in the Wolfcamp Shale and it is not borderline in the shale, it is in the shale. And shale ain’t dry … “ever” … period.
Then factor in the fact that Proctor was drilled out as a horizontal well, which is essentially, drilling 20 wells at once. Then there is one possible outcome; **OIL ! **
Even if the well didn’t reach their goal or satisfaction, anyone knows that well is gonna pump enough oil, that plugging is out of the equation.
Playing devils advocate and assume that the well turned out to pump only 10 or 15 barrels per day, which i just could even imagine as a possibility, well, that’s ain’t fixen to plug it.
That’s for sure !
So what could be going on ???
Who knows; maybe they know there’s more oil down there than what was showing up on the log reports. Perhaps they’re waiting on some experts from some other town, to come down and fix the problem.
But whatever, that well isn’t dry and I can say that with confidence.
Here is a link to as story in today’s Lubbock AJ. If it doesn’t work, just go to their website www.lubbockaj.com and click on the business link. The article talks about the debate over not the fact that shale has oil, but questions, the amount that can be recovered and the longevity of the play.
http://lubbockonline.com/business/2013-02-02/oil-industry-insiders-…
Interesting article RHH. Thanks for the info. Looks like a glass half-empty or half-full story. Unfortunately, it sounds like the geologists are concluding that wells for the shale formations only have at 10 to 15 year life, where the conventional wells from years past might have a 25 to 30 year lifespan. That is huge difference in lifespan and production. My advice to the counties now rolling in dough with these new shale wells, go look at Mineral Wells, and Cisco, and remember how quickly that oil played out.
http://news.yahoo.com/energy-industry-develops-nontoxic-fracking-fl…
This article will explain that “SHALE” is shale and it has oil period. It says in pertinent part:
“There also may be technical and cost issues that limit the acceptance of products such as CleanStim. There is tremendous variation in the type of shale rock in different parts of the country. For example, drillers use different fluids even within the same state, and the specific mix can play a large role in determining how productive a well is.”
Robert, it doesn’t seem the oil companies are overly concerned about shale oil formations playing out too soon. It seems to me that shale formations are the only type of wells the big oil companies wish to explore nowadays.
Even if the shale formations don’t hold as much oil reserves as originally anticipated, the fact remains that each still has more reserves that all the Middle Eastern Countries do, on a combined basis and that’s a hell of a lot of oil.
I recall back in the early 80’s, scientist were saying that Saudi Arabia had underground oil reserves equal to the Mediterranean sea so that’s alot.
Now getting back to issue of whether Proctor 94 may or may not be a dry hole, the above website article would lead one to believe that the knowledge and expertise of the geoligist is in now in play rather than a question of dry shale.
Rest assured it ain’t dry ! …
i am gon to tell a little that I know around the proctor in 196 yates petro produced and sold 141 b oil off of the busy 1220 feet to the south of the proctor 94 24 hour test 46b oil I have all the logs on that well depthn was 8200 feet in 1954 well on busy was in production with inn feet of same hole for two or three years I do not have records on it 2 miles north of proctor in 1996 yates drilled 10,000feet pluged oil well do not have all records on it .they have leased and re leased the proctor since the late 30 everyone must have thought something was down there this bunch is the only one who has drilled on it . all that is going on they are just getting started.it probably takes over 50 thou just to clear the titles before a co drills and what I am seeing around terry we even we old ones will see oil on most of terry concho gave 1billion in terry for three rivers leases terry is not on the edge of the play some one bought and leased 320 acres west of p94 for a disposal well and put out there money before the drilling rig ever hit the proctor last july. are we having fun yet cant wait un til july 4 13 I know we all would like to see production what is wtoffs saying thank all for your input.
I will chip in to fix e dubose’s period key.
wade now your sounding like my sister
Elbert, a title opinion is not usually a very large expense. The oil company usually has an in house attorney that will look at the chain of title and then write a title opinion, which are usually between 3 and 5 pages long. On the final few paragraphs, the attorney will reach a conclusion based upon the chain of title as a whole. They will usually mention marriages, divorces, bankruptcies, wills and/or court rulings. Basically everything that could potentially affect the title or mineral interest is included. They will also explain how and when the minerals to the property were eventually separated and divided from the owners of the surface. If you are currently receiving any royalty checks, you can contact the oil company and request a title opinion. They are usually more than happy to mail you a copy.