Oil & gas discussion group for those interested in Woodford Shale. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
Does anyone know about the wells put up in Garvin countys sec 20 township 3N Range 4W? I have 10 acres there and leased to continental resources last year for 3 yrs, with 18.75% royalty. What’s the status on them wells down there?
Any news on 22-2N-6W
Previous picture Canadian County, Section 8,13N,9W, west of Calumet, Ok.
Woodford Shale is heating up! Devon’s recent announcement of ~800 bbls of energy - primarily oil is great news. And so widespread - hopefully the sweet spots are broad and ubiquitous also. Texas and New Mexico are in the mix in a big way. Since Barnett and the Woodford are equivalent formations I suspect Barnett Shale will be in the spotlight yet again.
Joy,
Ralpr
Hi, Ralpr, what news do you have in the Woodford Shale? I think things are picking up in the Cana Woodford with eight new wells drilled in Canadian County Oklahoma, 5-13N-09W and lots of activity in Grady County. Exciting times for the oil and gas industry!
If you really want to follow the Woodford shale, the best counties are Garvin, Grady and Stephens co for SCOOP area. Canadian county for CANA Woodford.
Just for the record, the Barnett and the Woodford are not equivalent.
http://www.ogs.ou.edu/pdf/GSPartyS.pdf Ardmore basin. SCOOP Woodford is in the Anadarko basin to the north and west.
See the strat column. The Barnett and the Fayetteville are almost equivalent. They are Mississippian in age. The Woodford is Devonian and much older.
Welcome, Blake Berns to the Woodford Shale forum.
Thank you, M Barnes, for your input on the Woodford Shale forum. I have been watching the Stephens County as well as the Grady County forum and there is lots of good information there. Interesting and educated contributors on those sites.
Thanks Jeanie. I am attending the AAPG Woodford Shale Forum in OKC next week, so hope to have more news. It was a super eye-opener for me last year. If any of you live in the area, here is the link with the program. I am interested to see what has changed since last year-especially on the infill program spacing. Optimal spacing=optimal royalties!
I will look forward to hearing from you after the AAPG Woodford Shale Forum next week! I do not live in the area, but would make the trip if we were not going to be on vacation. The program looks very interesting and I am especially anticipating good news in the Cana, our interests are in Section 5 and 6 where infill drilling is going crazy. I will look forward to hearing from you after the conference.
Welcome to the Woodford Shale forum, Liz!
I will post this here and put a note in the Stephens, Garvin, Grady forums
This is my semi-annual list of the SCOOP Woodford wells. I have put ~200 of the Woodford wells into an Excel Spreadsheet. You can sort it any way you want.
The first tab is sorted by $/acre on test day based upon $100 oil and $4.50 gas prices. This is not entirely accurate, but is based on 640 or 1280 if a long well. (You will only get paid on your 640) so don't panic.
The second tab is $ per ft perf. I like this because it is closer to the value of the acreage by what was perforated.
The third tab is by Operator.
The fourth tab is by BOE. Barrels of Oil Equivalent. It puts gas into oil equivalents. That is how many of the investor presentations quote rates, so you have to be careful how you read them.
The fifth tab is a split out by well class. $/ac on test day.
I also did an estimate of what the $/ac royalty would be at different percentages based upon the $/ac on test day times 30 days. You can see where 1/4 royalty is so much better than 3/16 royalty. Oil lines in green, Gas lines in red on the graph.
I won't guarantee that there are no errors. If you find something wrong, let me know and I will try to fix it. Also, some of the pending wells may be finished, but I didn't add them yet. I just stopped at the first ~200 I found.
@M Barnes - Thanks for posting the spreadsheet. It is great to see this much technical information in one place.
I thought I saw somewhere that you retired. Your work looks like the results of a full time job.
I retired from my Major Oil Company job to take over the Family Oil Company. I think the family is taking more time than the old job.
@M Barnes Thank you so much for sharing this quality presentation. Much appreciated.
M Barnes, thank you for the Excel Spreadsheet. It is very interesting to see the stats on these wells compiled into one report. How was the AAPG Woodford Shale Forum and did you get good information on the infill program spacing? We appreciate your good information on this forum!
This information was posted on another forum and I thought some of you might have an interest in attending. On October 18th the OCC will present a workshop at the Westin Hotel in San Antonio, Tx. The scheduled topics are: "Things Every Royalty Owner Should Know", "Practical Guide to Oil and Gas Leasing, Spacing, Pooling and Location Exceptions", "How to check Title in Your Pajamas Without Leaving Your House. How Do I Pass The Mineral Interest To The Next Generation?", "Understanding Spacing, Force Pooling and Multi-Unit Horizontal Wells". The Westin is offering special room rates for anyone attending the conference.