I know the Buell well production numbers were released last year. Is there a method we can check the numbers as they come out on say a monthly basis? Just curious. Thanks.

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Buell 8H       API Number  34067210570100

Year                  Oil                  Gas              days in production

2011              13,472 B       1,523,465

2012               9,779 B        1,657,548  

2013 Q3            546  B          337,295               91 days

Randy

Randy,

The 2013 Q3 results indicate a significant drop in oil production.  Does this sudden drop imply a short life of high oil output ?

Jerry

Maybe. Remember, the Buell well is pretty far east of the oil window, and is closer to the dry gas zone than the wet gas area. It was one of the first test wells and it's early production surprised most people. Most of it's liquids were NGLs and without proper processing plants two years ago, who knows how those were processed or sold? My "guess" is that the well is now sliding down the decline curve and psi is declining. At some point Chesapeake may have to consider some form of lift on the well to get the desired oil/liquids out of the well.

Randy

KENNETH BUELL 8H

days

oil/day

gas/day

$/day

2011

198

68

7694

$37,576

2012

341

29

4861

$22,344

Q1 2013

79

17

3539

$15,856

Q2 2013

38

18

3935

$17,540

Q3 2013

91

6

3707

$15,428

Q4 2013

88

4

3296

$13,584

Q1 2014

84

3

2956

$12,124

Q2 2014

90

2

2853

$11,573

totals to date

1009

$21,637,882

Thanks Booger . What would the monthly royalty be for this well on an average over the years of production so far .At a 12.5% net bottom dollar lease anyone want to take a shot at it ?
mrough estimate would be to take the dollar amount listed in the numbers above divide that by unit size then divide that by 8 to give you your dollar/day.

Can someone give me the number of acres in the Buell unit?

177 acres.......but those $ numbers are figured at $4gas and $100oil....so that's a wild guess.

but that would translate into $2.7mm in royalty at 12.5%.....or approx. $15,000 acre....to date.

.......and production seems to be holding pretty good.

Thanks Booger .Hopefully all the wells in the area are as good as the Buell .
KENNETH BUELL 8H days oil/day gas/day $/day
2011 198 68 7694 $37,576
2012 341 29 4861 $22,344
Q1 2013 79 17 3539 $15,856
Q2 2013 38 18 3935 $17,540
Q3 2013 91 6 3707 $15,428
Q4 2013 88 4 3296 $13,584
Q1 2014 84 3 2956 $12,124
Q2 2014 90 2 2853 $11,573
Q3 2014 83 1 2858 $11,532
totals to date 1092 $22,594,978

interesting that production increased after sitting a few quarters while they drilled adjacent wells.

KENNETH BUELL 8H days oil/day gas/day $/day
2011 198 68 7694 $37,576
2012 341 29 4861 $22,344
Q1 2013 79 17 3539 $15,856
Q2 2013 38 18 3935 $17,540
Q3 2013 91 6 3707 $15,428
Q4 2013 88 4 3296 $13,584
Q1 2014 84 3 2956 $12,124
Q2 2014 90 2 2853 $11,573
Q3 2014 83 1 2858 $11,532
Q4 2014 0 0 0 $0
Q1 2015 0 0 0 $0
Q2 2015 1 21 2445 $5,940
Q3 2015 92 8 3494 $7,374
Q4 2015 92 4 3089 $6,377
totals to date 1277 $23,865,952

If you check the new permits this week, you'll notice that Chesapeak permitted Buell wells this week.

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