Utica / Point Pleasant Royalties Per Month

Hello All, question:  How much money per acre/per month are these folks in Carrolton county getting for their royalties?  I know all wells will be different, some with wet gas, others containing oils.  I'm just looking for a good average.  I'm only 29 years old and sick of working...  trying to determine if I can quit my job now...  Hopefully they don't hit a dry well behind me.  (of course, I'm kidding)

I'm in Southern Mahoning County, but I want info from Carrolton Co.  

Cheers! 

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09bp5t05myjl3Permalink Reply by 09bp5t05myjl3 on July 26, 2012 at 10:57am

LOL thats funny stevey, Guess maybe I need to take a closer look, things must be really slow in the oil business when one their prize attorneys can sit on GMS all day at work? must not be any boiler plate leases to rewrite,  no land groups to convince their land is worthhless so they may as well sign that boiler plate lease? no landowners to sue to change the meaning of those leases or how about leases that the landowners are tied to but the oil companies aren't & try force renegotiaons, how about all those leases they sign & sometimes hiding behind shell companies but eiter way after signing that lease decide that they are just not going to honor & never pay? I just have to wonder?

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on July 27, 2012 at 3:12am

FYI, Patterson-UTI earnings call pegs daily rig prices at $22,480.  That's almost $90,000.

2pwt9ru4672sqPermalink Reply by 2pwt9ru4672sq on July 27, 2012 at 3:22am

Funny... if that's the case then I almost make a million dollars a year!

09bp5t05myjl3Permalink Reply by 09bp5t05myjl3 on July 27, 2012 at 3:31am

Stevy myers thats a lot of money to sit on gms all day, for that kind of money maybe you could go out in the field & help eliminate some those violations Citrus keeps  racking up on their couple wells in PA?

What was it 27 violations on 2 wells? that seems like a lot of stakes fell over per your excuse!  I know the inspector was mad at one  Citrus employee right!

Permalink Reply by Jim Litwinowicz on July 27, 2012 at 3:41am

Just curious.  What all is included in that rig price?  Is it just renting the rig or does it include the personal to run the rig?  Does it include all support people on the site while the rig is running? Does it include renting all support equipment like cranes, forklifts, hoists?  Does it include all operating costs such as security, insurance, transportation, and more?

I know it cost me $105/hr to have a crane on site to set roof trusses.  But I also needed three or four guys setting the trusses or more if they were large trusses. And at least one ground guy hooking the crane and supplying the setters with materials for bracing and securing the trusses. Often another guy helping guide the crane operator.

I don't have a clue as to what is included in that rig cost. But it does not probably include all the other site activities and costs. So while the rig may "cost" $22,480/day the total daily cost of operating an active drilling site while the rig is on site may be around the $90,000/day.  Maybe not.  Maybe its only $30,000/day. Just trying to get a better understanding of the issue.

2pwt9ru4672sqPermalink Reply by 2pwt9ru4672sq on July 27, 2012 at 3:54am

Jim,

The day rate gets you the rig and the crew to run it.  You have to pay separately for any and all equipment that is on location other than the rig itself.  The directional tools are extra as well and are supplied by a different vendor. 

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on July 27, 2012 at 5:09am

Patterson-UTI showed average US operating costs at $13,170/day.  The $22,480/day is what they charge operators for their services.

2pwt9ru4672sqPermalink Reply by 2pwt9ru4672sq on July 26, 2012 at 8:52am

Donna,

If you look at the national statistics meth is a HUGE problem virtually everywhere and no community is immune.  I wasn't inferring that it was in fact limited to Ohio or that Ohio has a concentration of meth usage that exceeds that of any other particular area, it was just a statement that it was the vice of choice if drug test results are to be believed.  My statement was merely my way of pointing out to Butch that his assessment that pot smoking was the cause of what's wrong in this country wasn't consistent with local drug test results. 

09bp5t05myjl3Permalink Reply by 09bp5t05myjl3 on July 26, 2012 at 10:24am

Steve Miles There you go again Mr landman attorney how to make friends & influnce people right out the landmans guide, along wih how to deceive & mislead! & of course twist the truth  after  your called on it,  Im still trying find 1 honest landman/flipper/oil & gas employee! Also after you made it sound like Butch was a dummy, you didn't mention he said he was told that!

who wants to bet a Lndman told him that when saying hey its not the upfront money that matters thats chump change based on the royalties you will get! anyone else been told that by a landman saying anything they can to get you sign that boilerplate lease for next to nothing.

Permalink Reply by Butch Ratell on July 27, 2012 at 6:24am

I HAVE 5 OIL AND GAS WELLS AND YES I KNOW THERE ARE 42 GALLONS IN A BARREL OF OIL.

ONE OLD FARMER GETS 7800.00 A DAY FROM JUST THE GAS FROM A 100 ACRE FARM. NOT BAD. I THINK I COULD LIVE ON THAT.

YES IF YOUR LUCKY ENOUGH TO BE ON A WELL LOCATION YOU WILL NOT HAVE TO WORK ANY MORE. BUT IT COULD TAKE MANY YEARS TO GET A WELL. WE HAVE 5 YRS AND THEY HAVE TO REPAY THE BONUS MONEY OR LOOSE THE LEASE. SO I AM THINKING THEY WILL DRILL SOME KIND OF WELL WITH IN THE NEXT 5 YRS OR SELL IT TO ANOTHER COMPANY TO DRILL.

I HAVE HEARD OF 15,000 AN ACRE IN 20,000 ACRE PLOTS LANDOWNERS WILL NEVER GET THAT.

ALL I KNOW IS DRILL BABY DRILL.

2pwt9ru4672sqPermalink Reply by 2pwt9ru4672sq on July 27, 2012 at 7:29am

Butch,

I am truly very happy for you and I am sure that you realize how fortunate you are.  Good things come to those who are patient and allow the process to develop. 

Permalink Reply by Paul Martinelli on July 27, 2012 at 8:09am

Butch,

 

So you have 5 wells.

 

What type are they,,,,to what formations?

 

What is the approximate per acre/per month income for them?

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