No current permit or OCC documents are posted for section 18-7N-2W right now.
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Permits for Millan MU were filed by LRR IV Operating Inc in February.
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Charter Oak drilled the Topsy Turvy 1-29 well back in 2015. It is a vertical hole on the west side of sec 29. STR_ERROR_PAGE_TITLE
The OK well records list only show McClain McPherson wells with surface locations in 22-8N-3W, 33-8N-3W and 1-5N-3W. None in 17, 20 or 29-7N-2W. Many miles different.
Since there are many McPherson wells, it would be helpful if you would include the section, township and range when discussing them.
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OK so they will pump the water in to try and âfloatâ the oil up for recovery, correct ?
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Oil recovery in McClain county is not like catching fish out of a barrel a lot of the time. There is a large variety of things that happen it seems like.
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An adjacent well has made over 250,000 in less than a year and a half. Iâd bet there is plenty of recoverable oil in these sections, and they arenât throwing money away
The Boechat 6N 2W 5 1HX (sec 32/5) whose toe (bottom hole location) is just south of the Millan Mu wells has made over 392,000 bbls and 520,693 mcf since July 2018. EUR estimated at about 875,000 bbls and 1.5 BCF gas.
Kent MU16 28-21 4HX well in sections 28/21 just east of the Millan MU wells has cum 256,625 bbls oil and 190,212 mcf in 13 mo. Est 1.2MM bbls and 1.9 BCF
Kent MU16 28-21 3HX wells in sections 28/21 just east of the Millan MU wells has cum 261,297 bbls oil and 185,387 mcf in 13 mo. Est 1.4MM bbls and 1.4 BCF
Sec 33/4 has five horizontal wells who I havenât added up yet.
Working interest and royalty owners are getting their returns. Those wells easily paying off drilling costs. Time will tell on the Millan MU. Takes a few weeks to clean out the frac water.
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The wells mentioned above are in 6N-2W and 7N-2W many miles from 5N-1W. Here is a map that will help with locations.
It is more helpful to the forum if you start a new topic when you wish to discuss a new section, township and range and new wells. Mixing other wells into an ongoing topic is distracting and the comments are not always pertinent to the topic at hand.
McClain County Map.pdf (343.5 KB)
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Has anybody retracted their mineral buy offers for those sections 17,20,29 in 7N 2W ? I bet the frac gets it going shortly. Unless God poured concrete in that one spot !
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Any outfit looking to buy , would want to see production first wouldnât they ?
All of this is amazing to me. It is a lot different than 20 years ago. Off topic somewhat, but what does it cost to drill a vertical now to 6000 feet or so, ball park cost? Guys used to drill straight holes in McClain and hit some pretty good ones. It was wildcatting but it was not a fortune to drill back then.
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Hey Rocky- Ive been participating in wells for 42 years, over 350 horizontals. Several 100 acres of minerals as well that have been drilled. Could you please explain to me what tax credits I am supposed to be getting? Personally, I donât think you are up to date on much going on the industry today and probably arenât doing Joe S any favors with your off base comments that arenât relevant to his situation. PS. We havenât had windfall profits taxes on energy in Oklahoma since the 1980s.
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Not tax credits. Only an acceleration of intangible drilling costs, depending on the size of the company. Small companies are allowed to deduct 100% of intangible expenses in the year incurred. I would suggest you investigate accelerating expenses vs a tax credit.
I just take my royalties off the leases. I wonât be participating in any wells. I just wondered what it really cost to drill a straight hole at whatever 5000-7000 feet. Some people still do that and make money. Its a lot smaller bet and obviously a smaller reward than mega-companies drilling a 5 million dollar well, and having to get a lot more than that back, to make any money !
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IMO should be a good well. Itâs their first 3 miler in the area but offsets are good.
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