Replies to This Discussion

Permalink Reply by scott peterson on March 14, 2015 at 7:42pm

Toast to Evan!!!!

Permalink Reply by evan on March 14, 2015 at 7:56pm

Thanks pink panther. hahaha

Permalink Reply by GW3 on March 14, 2015 at 10:30pm

im also in the fritz unit at a good lease with 20% ..i dont understand how u can determine price per acre .. its how much production is produced each month .. if one month they choke the well back and the next month they open it that isnt a relevant way of telling me what my acre is worth .. i am also in the parker unit in tusc/guernsey county .. the first months were good production , now they r waiting on pipelines to be put in place and they cut back production .. it also doesnt help that oil has fallen over half price since last summer .. all i ever asked was just give me what the well produces each month .. i still think eastern guernsey is a great area .. fritz unit had over 40% oil in production .. i guess i wouldnt be drilling either at these prices .. just my opinion which prolly dont mean much

Permalink Reply by bo boboski on March 15, 2015 at 5:38am

You are absolutely right. The amount will probably change every month. Most people on here have learned enough to know that. What you get the 1st few months will not be seen again unless the come back someday and re-frack the wells. I've read where that may bring em back to original initial production or better. By next year the amount will probably be about 1/2 what the 1st few checks were. Then slowly falling some more before leveling off. They could be on a good choke now! The Fritz has all it's wells drilled,and all hooked up to a close by processing station so they would have no reason to shut it down except for "prices". The Parker, on the other hand ,I've read, will be shut down so they can drill more wells, supposedly gonna use a waterless frack job on the new lateral/s.  If you have acreage in both these wells, with good leases, I envy you. Congrats! Count your blessings.

Permalink Reply by evan on March 15, 2015 at 7:49am

Yes GW3 I know what your saying but the amount per acre is just used to tell how good or bad a well is. There's no doubt checks will never be the same from month to month. They should however be close if there were no incidents that caused some type of delay. These wells are choked back a good bit according to my contact so I'm happy with that. They shouldn't decline as fast this a way it hope.

Permalink Reply by pinehill on March 15, 2015 at 10:21am

When you state that you are getting 800/acre is that the total from all 3 wells or is that per well? Thanks

Permalink Reply by jonathan M. on March 15, 2015 at 2:26pm

He previously said that was the total Amount from all three wells.

Permalink Reply by Jan on March 16, 2015 at 9:15am

Days of production for Fritz Unit in November, 2014:

Fritz 3H - 24

Fritz 5H - 21

Fritz 3H - 18

Permalink Reply by bo boboski on March 16, 2015 at 3:41pm

That is actually good news. there was 21 days total that there was no production in one well or another.Do the math and you'll see what 30 days from all 3 wells would do.Dont know if that would ever happen,but it would be nioce to know the best case scenario.

Permalink Reply by David Cain on March 16, 2015 at 5:03pm

Evan,

Thank you for sharing and congrats!

Weren't there 4 laterals planned for the Fritz and was this all planned as one unit?  If so, wouldn't 4 wells for a full month of production versus the 21 days for 3 wells result in about $1,500 per acre per month in royalties for you?  $800 per acre per month is pretty good though considering how much prices have fallen recently.

 

 

Permalink Reply by evan on March 16, 2015 at 8:35pm

Yes David there were 4 planned but one of them was changed to a Fineran well instead I guess. I guess if you add one more to the 3 it would take it over 1000 per month per acre but it would also add at least a 100 plus acres to the unit so it may not change to much. Not sure. Good question.

Permalink Reply by David Allen Lilly on March 17, 2015 at 6:46am

Thank you to Evan for supplying this very valuable information, we all owe you one.

I have a couple of questions if you would be so kind:

Do your checks come with much information detailing what you were paid for each mineral extracted ?

I am curious if you are being paid for natural gas, oil, and the other gases we are told are being produced from these wells, and if any of that information is included on a payment statement.

$800 per acre is great considering the commodity prices and the terms of the leases you are being paid under, but I almost would rather Chesapeake shut in the McClain until prices recover above $70, which may not happen soon.

I am afraid that oil will swoon again, down to the $30 a barrel level, due to the over supply of the market.

Anyway, thank you again Evan.

In keeping with that theme, I will also post my royalty per acre figure when the time comes.

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