How does one know if the well has “good” production? Brand new well…here are the numbers: First month, 11 day period: 507 BBLS oil, 423 MCF Gas, 12110 BBLS Water. Second month, 28 day period: 5539 BBLS oil, 7881 Gas, 15391 BBLS Water.
Wait 6-8 months and see how it does; they jump around a lot!!
Will do! Thanks!
Dctex99 said:
Wait 6-8 months and see how it does; they jump around a lot!!
It looks a little water heavy at the moment but that may change in a few months and isn't a problem at all if there is a water disposal well on lease.
As Dctex says, let it settle in. Many times how pleased you are with your well will have something to do with how many acres you have. If you have 640 net acres and each one pays you $50 per month in royalty, I at least would be hard pressed to dislike the well although someone else might not like it. The true measure of an oil well can not be known until it has been plugged and the total wealth it produced calculated.
Yes, it is amazing the difference in wells; I have one well that I have 70 net acres in that I get about $700 a month from; another in the NEXT section that I have a mere 15 acres of, but last month grossed just over $1500; yes, $100 gross per acres; so I got a check for just over $1200...Amazing the differences..
It is all very interesting, to say the least! I've learned so much from this site and the wisdom of its members...and am continuing to learn more everyday! Thank you all for taking time out of your day to share what you know!!