Activity Section 12 Blk 51 T8S T&P Survey Reeves County TX. There is currently two horizontal Wolfcamp producers on this acreage spaced 640 acres. The Woods 1-H and 2-H. The 1-H has out performed the 2-H considerably. I have not that familiar with the RRC website but can I find frac data on both wells? I have several offers to purchase my minerals here but want to more research to make a decision in selling.
You can find frac data on www.fracfocus.org Most offers to buy are right before drilling, so our family does not sell if we know wells are coming. You are surrounded by permits for longer wells.
Look at completion reports for the 2 wells and you will see what may be the problem here. Woods 1H - completion in 2014. W-2 Oil Completion Report - on page 2, producing interval (1st take point to last take point) is from 10995 to 14780 feet = 3785 feet. Woods State 2H completed in 2015. W-2 Oil Completion Report - producing interval 14680 to 14780 feet = 100 feet. It looks like something went very wrong during frac.
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Thanks for the information on the Woods lease. I assume i can find the completion reports using the API numbers for both wells on the RRC web site. Again appreciate your input. Take care Ledlie Powell
If we take the completion reports at face value the 2H wasn’t even frac’d. So we are going off a situation where only the toe was perfed, acidized, and no sand ever pumped? Blech. Maybe. Whichever, we don’t know and I don’t think we are gonna find out. The well stinks, something went wrong as TD said.
Either way, none of this is too important for what you want to know. Should you sell your minerals? I think everyone agrees you should only sell your minerals to someone who will pay you more/less fair value for additional longer wells with modern stimulations.
Though the CVX Rev Con wells going at an angle south of you sort of complicate your ability to get longer N-S oriented wells.
People’s version of fair is going to vary wildly, because well this is just straight emotions and the internet. I don’t really have any folksy anecdotes about it, just some numbers. If we take the offset fully developed BEXAR 11-14 unit as a proxy, recoverable reserves here should be in the 550+ BOE/NRA range, take that and multiply by $70 and you should expect in the next 25 years at $70 flat oil to make $40k per NRA here. What is that worth today? Probably about a 1/3 of that if one is aggressive with risk. So IMO anything north of $10k/NRA is paying you for additional wells.
Might get new wells in 6 months. Might get them in 5 years. Might never get them. The game is the game.
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