Article from the Lubbock AJ. Note the map shows Wolfcamp in far SW Terry County…also read the reamarks people are making concerning fracing. Lots of black helicopters up there…
http://lubbockonline.com/business/2013-02-09/cline-shale-play-part-…
craig that is a good thing to know. thanks I hear that some one is building a tank farm on the rail line and plan to ship oil by rail also hauliburton is building new frack plant on the rail north of brownfield. On sec 94 the seemed to do a very good job of clearing the title.
No one should underestimate the potential influence of a small group of activists like those posting the wild comments to the AJ article. They’re unlikely to get fracking prohibited. “This is erl and this is Texas” someone posted earlier. But if they build up a noisy following, they could delay things for years and years, file lawsuits and such. That could be almost as bad for the area economy as well as landowners.
Landowner organizations can be a lot more effective than most oil companies at countering activist misinformation. Are there landowner organizations active in West Texas? Wouldn’t be a bad idea if someone has the time. It’s a lot of work.
It will take 3years for Halliburton to build new yard, they have been working on new yard in San Antonio for over year and half and still have a ways to go. i heard that Pumpco is opening yard in Brownfield.
lots of rumors but when title changes hands in the court house money is being spent,at that point it is just a better rumor but when productions and ground work start it is no longer rumor . new big hotel in brownfield checks cashing. always good rumor 300 apartment . halliburton also looking in lubbock only good rumors here no dry holes or plugs edubose…
Latest from W&T Offshore…Found this on their website this afternoon. Their Yellow Rose Project which is Dawson, Gaines, Martin counties is reported very favorable. But here is all that they say regarding Terry County
In Terry County, West Texas, our horizontal drilling program is progressing with two wells fracture stimulated and on flowback. To date, we do not have enough information on the flowbacks to determine our future development plans. We anticipate having more information within the next few months.
Here is the link to the full article.
http://ir.wtoffshore.com/phoenix.zhtml?c=179783&p=irol-newsArti…=
Not the best news, but not the worst either. W&T said the same thing about their wells on flowback in East Texas. Gathering data, decision later. They bet $12.5 M on these exploratory wells. If they know that they need $200 oil to make them work, they’d quit and cut their losses. Nothing they can do to make $200 oil happen.
Sometimes companies say that early indications are encouraging, but they don’t here. I take that to mean that there’s enough oil down there, but they haven’t figured out yet how to frack it enough to get the yields they’d like. That seems to fit with what we hear from elsewhere in West Texas. Hopefully they’ll figure it out. If not someone else will come back in a few years and try again.
Let me explain what the article from W&T Offshore is saying…“we do not have enough information on the flowbacks…etc.” It means in plain English that the wells are not going to make any money unless oil goes to $200 per barrel, and therefore we in Terry County are SOL…That is what that means.
The Halliburton deal is not done. In fact they are looking at three other sites. Two in Lubbock County and one in Hockley. Decision on location was supposed to have been made in January…Still no final word.
I still see where there has not been any activity on Proctor 94 in a while. Anything going on.
If the wells are on flowback, that means quite simply, that they are still in the process of pumping the fracturing fluid out of the hole.
Accordingly, we cannot label their report “bad news”, unless we first accuse them of dishonesty.
FYI, fracturing fluids are referred to “flowback”.
If the newly drilled wells are in flowback, that means the wells haven’t been tested as of yet. … Hence, the comment: “we do not have enough information yet” …
Yeah maybe so but I have no doubt in my mind that these oil companies are not attempting to mislead their stockholders. Since W&T contends: “these wells are in backflow and we do not have enough information” … then I trust that statement.
Criminal prosecution is one thing but civil liability is another. If an oil company is reporting that a well is in the stage of backflow … and their investors subsequently learn that the oil wells have actually been tested already and have yielded negative results, then the oil company would be opening themselves up to huge liabilities relating to securities fraud.
If they issued false or misleading well reports, they could be sued under the TDTPA for treble damages plus court cost & attorney fees. All of the fracking reports, well logistics, flowback records etc, would be time stamped, dated and subject to verification via subpoena.
So trust me, these ppl aren’t lying when they contend they do not know the status.
Or at least that’s my take on the issue.
In addition, if an oil company had access to credible information concerning several dry holes in a particular portion of a county … which they were heavily involved in … and they attempted to conceal that tidbit of information from their stockholders and investors, would that activity not be considered Securities Fraud ?
Actually Craig, no, it is not securities fraud until someone proves to a court the intent to commit fraud, which is really difficult to impossible to prove. Just look at all the shady dealings that went on financially during the financial bust of 2008 and 2009. To date in 2013 only 8 people have gone to jail for all the billions of fraud during the recession.
I agree. I don’t thing there is any attempt to mislead anyone. I do think that there is a lack of positive information regarding these wells and that is the reason why we are not seeing any reporting. The W&T wells have been on flowback since before Christmas. Here we are two months later and still no news. Guess i am impatient…
I think that’s a great way to explain this. There seems to be a “lack of positive information”.
The reason the wells could remain in flow back for two months could be that the initial results were not encouraging so they sent in a new team of experts to fracture again.
Lack of positive information#2$!? LOL…what a bunch of gobbledygook! I guess that when a patient in the hospital has his heart stop beating for 24 hours straight, we can now confidently say that he is NOT dead, we just have a lack of positive information on his heartbeat. LOL…What a load of horse apples.
tilden…whatever…takes all kinds i guess.
Uh yeah Robert, I guess all the oil companies done gave up and left town, leaving billions of dollars worth of investments setting in the ditch. Wishful thinking on your part don’t ya think ?
LOL !
all of you are not looking at the real stuff the shut in wells are not abandon they are not plugged they are exploration and they are not the end concho has moved part of there efforts to new mexico but they are all working on the deeper depth cline stuff follower the cline and you will see the dollar read conchos qreports wtofshore chespeak robert you are off tract come down and walk through empresa purchased thousand of leases in hockly and terry in december all the once again titles being traded in the court house tells what is coming jw you need to look how empresa has made there moneys in the past they want you all to think that they are not about to complete the well. keeps the prices down until all the leases or leased there are lots of stuff not leased and they are all betting on the cline one man said he would trade all his leases in north decota for terry county lots of rumors out there look at the depths they have not reported on the horiz stuff that has been drilled in terry look what the other wells production most about 200+ oil per day