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 Philip Thackray on December 7, 2013 at 8:23am

David P

Your ballpark numbers were pretty good!

Phil

Permalink Reply by RB on December 7, 2013 at 8:26am

How does this break down for the mmcf per day, anyone?  I forgot!!

Permalink Reply by Philip Thackray on December 7, 2013 at 9:58am

 

All,

In my haste I flipped some numbers.  Also, went back to market prices and got the following number for an average well on 100 acres - $64,000/day-100 acres total sales.  Which becomes $640.00  /day-acre and (20%) to the landowner, this becomes $128.00 /day-acre.

Phil

Permalink Reply by RB on December 7, 2013 at 10:27am

Phil,

Isn't the typical unit 640 acres?  And then there could be a number of wells.  Are you using 100 acres as a example for one well?

Permalink Reply by David Perotto on December 7, 2013 at 10:54am

RB,

For some reason this unit is 500 acres.

Dave

Permalink Reply by T. Alexander on December 7, 2013 at 10:21pm

I thought the ODNR plat bears no relationship to the division order associated with the production unit filed with the county?  Couldn't this unit still be 640 acres?

Permalink Reply by TM on December 8, 2013 at 7:28am
Some of the declaration of pooled units I have seen were exactly the same as ODNR plat maps. I have seen and heard that some unit map acreage filed in the courthouses were different between pooled declaration and the ODNR maps. Some units are big and some are split up into smaller units. I think it just depends on what the driller wants to do with the units. These drillers seem to make the units 100 acres up to like 1,200 acres in some cases. These units do not have to be exactly 640 acres.
Permalink Reply by T. Alexander on December 8, 2013 at 9:41pm

My question wasn't the exact size--I know production units vary in size with 640 acres merely being a common one--but I was under the impression from many earlier posts that the ODNR plat was a legal filing having to with meeting well regulatory requirements and that while it was of course a wholly included subset of the production unit, it very rarely represented THE exact production unit.  Am I wrong?  

Permalink Reply by Philip Thackray on December 7, 2013 at 10:06am

Bo,

Sorry for the term "poor".  The well is comparable to an average Range Washington county well and better than average Rex Butler county wells.  Which makes it a fine well.

Given what others are doing in the Ohio Utica I'm sure that Rex was hoping for more that is kind of where I was coming from.  But is this enough - yes.

Phil

 

Permalink Reply by Philip Thackray on December 7, 2013 at 11:16am

RB,

What David said.

The "typical" Marcellus well is considered to be 80 acres so this is not far off.

If you wanted to express this well's five day daily average in Mcf you would:

4473Mcf + 6000 x 378 Barrels of condensate + 6000 x762 barrels of NGLs = 11,373 Mmcf / day-well.

The condensate portion of these wells is high accounting for almost half of the liquids.  The Range Washington County wells have only 10% of their liquids as condensate and the Rex Butler County wells have almost no condensate.

Phil

Permalink Reply by Philip Brutz on December 7, 2013 at 11:50am

Rex was founded by  Benjamin W. Hulburt, he is now the CEO of Eclipse.  About 90% of the land around the J. Anderson well is leased to Eclipse.  It will be interesting to see how they cooperate with each other.

Permalink Reply by Mike Fulper on December 7, 2013 at 4:36pm

I have not seen ONE person tell what they are getting for Royalties....

I am guessing.. they are real happy,..

If anyone was getting really RIPPED OFF... they would be SCREAMING. on this site..

Every well that is producing in Ohio.....seems to be paying quite well....

Well enough to keep people happy....

I will be super pleased with $10 a day.. per acre....:)

anything over that.. I would be Really happy....

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