Anyone have any ideas why mewbourne is kicking the can down the road? I know oil prices are dropping, but this has been going on for a couple of years, most recently this; This is an Application requesting that the Corporation Commission enter an Order authorizing Mewbourne Oil Company, or some other party, to drill a multiunit horizontal well at an off-pattern location in the 640-acre drilling and spacing unit(s) created for the Cherokee common source(s) of supply underlying Section(s) 2, Township 17 North, Range 25 West and Section(s) 35, Township 18 North, Range 25 West, Roger Mills County, Oklahoma. 2. The Corporation Commission entered Interim Order No. 741384 in this Cause on April 18, 2024, and provided one (1) year within which the Movant was to commence operations of the authorized multiunit horizontal well in Section(s) 2 and 35. 3. Mewbourne Oil Company has not yet commenced operations for the drilling of said well and believes it would be appropriate for the Commission to amend Interim Order No. 741384 to provide additional time within which to commence the well.
These sorts of delays happen all the time. Mewbourne is juggling drilling in their whole portfolio across several states, so rigs, frac crews, budgets, etc. all have to be balanced.
The corporation comission cant force companies to drill wells just because they file poolings, multi unit horizontals, intent to drills etc. With oil prices where they are now and likely headed, going to be a lot of people on here, myself included not happy with the lack of drilling in the coming fututre.