Rex J. Anderson Well Production Numbers

Rex just released the 5 day sales rates for the J. anderson wells.

It states in part:

The five-well J. Anderson pad, located in Guernsey County, Ohio, was placed into sales from its resting period at an average five-day sales rate per well (excluding downtime) of 1,886 Boe/d (40% NGLs, 40% gas, 20% condensate) assuming full ethane recovery and an average natural gas shrink of 12%. The five wells produced with an average casing pressure of 3,293 psi during the five-day sales period on an average 18/64 inch choke. The five-well pad was drilled to an average total measured depth of approximately 12,873 feet with an average lateral length of approximately 4,250 feet and was completed in an average of 28 stages, utilizing the company's 150' "Super Frac" design. Based on composition analysis, the gas being produced averaged 1,257 BTU.

 

 The full release is here:

J. Anderson results

 

Looks good for SE Guernsey.

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Permalink Reply by bo boboski on December 7, 2013 at 11:55pm

Mike, that's a whole nuther subject, but you are right. I have started a couple discussions on this site to try and coax people to cough up what their royalties are paying,or at least how much per acre their wells are paying. Got <O> cough-ups! Maybe it's like asking someone what their paycheck is each week,or maybe they don't want their long-lost friends and relatives coming around for loans,or thieves coming, thinking they have cash laying around,or plenty of stuff to steal.   Maybe in about a year, YOU will have the chance!  By then,though, we will be able to go to ODNR's site and get the production #s,the platmaps,and figure up for ourselves what people are getting. we just wont know what % or deductions their lease allows.  

Permalink Reply by evan on December 8, 2013 at 2:22am

There's been a bunch tell what they get for royalties.. someone even did on this thread 

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on December 7, 2013 at 6:48pm

Philip,

Cooperations is, shall we say, unlikely.  The people at Rex loathe Eclipse.  It'll be interesting to see that former-lover's spat play out.

Permalink Reply by Philip Brutz on December 8, 2013 at 2:36am

I am leased with Guflport, surrounded on three sides by Rex and on my west side by Eclipse.  I just hope that Rex and Gulfport play well together.

Permalink Reply by Charles Randolph on December 8, 2013 at 3:35am

Instead of the children "playing well" in the sandbox together, it's hopes of the big boyz playing well in the shalebox together :))))

Permalink Reply by RB on December 8, 2013 at 2:49am
I posted on another thread. rex 3k acre 17 net. should drill 1st half next yr
Permalink Reply by Philip Thackray on December 8, 2013 at 3:11am

Bo, Mike,

If you have the numbers like Rex presented in the link above, calculating the royalty amount is pretty straight forward.  I have seen hard copies of the Rex numbers given to landowners with their monthly checks and talked to friends who have XTO leases and have received checks recently and the dollars that the components sell for match closely the market numbers that currently prevailed.  The deduction is about 18% for both Rex and XTO - I can't speak for anyone else.  In the case of the Rex Anderson calculation I presented earlier (page 4).  If we apply the deductions then $128.00 / day-acre  x 0.82 = $105.00 / day-acre and the actual royalty percentage is $105/$640 = 16.4 %.

Phil

 

Permalink Reply by Mike Fulper on December 8, 2013 at 3:37am

boy I would pass out if we get $105 per acre per day...

.that would give me over $78,000 a month

Cant believe that is gonna happen...

I will stick with $10 a day.. per acre....:)

Permalink Reply by Philip Thackray on December 8, 2013 at 4:12am

Mike,

This is a fully fleshed out well pad - five wells on 500 acres all in production.  Typically things start much slower than that - one or two wells on larger units.

The $105 will decline rapidly - check out the decline curves in the Range Corporate presentation.  However, for this Anderson unit, it should stay above $10/day-acre for some time.

YMMV!

Phil

Permalink Reply by Mike Fulper on December 8, 2013 at 4:33am

Ok thanks, I just am not gonna set my sites too high...:)

I think a good Idea is to save everything for the first `12 months.. then spend after that  :)

Permalink Reply by Jimmy Wilson on December 8, 2013 at 5:29am

Holy Crap, that's huge ! At first glance I thought that was for total of all legs, not too impressed, however, that's average for each leg.

Good Lord, that's movie star money for someone.

There are so many in that region, I quit paying close attention....can someone tell me what the production storage complex looks like, tanks, how many, size... remember all the distillate has to be trucked for now.

Jeez those roads down in that region suck too, would hate to be the tanker driver.

They have to be hauling multiple semi loads a day.

Permalink Reply by Robert Bond on December 8, 2013 at 6:07am

If you save it all for a year the IRS is gong to take a lot of it.  Better consider the tax savings of spending some of it the right way!!!

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