PA oil and Gas reports released for second half of 2011
https://www.paoilandgasreporting.state.pa.us/publicreports/Modules/...
Checked my pad with the 6 permitted wells and one says
"Rig Release 05-24-2011 Stimulation 08-20-2011 not completed"
the others say.
"Not yet drilled Conducter set But Not drilled with big rig"
Anyone knows what that means?
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Replies to This Discussion
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Permalink Reply by mlb on
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thanks, much better than trying to use a royalty calculator. Of course prices change, I'm in a wet gas region etc but these are good numbers. I have 75 acres so even if they put one well, it should about 16k per month. 5 wells 80k or so for that two months. Very helpful. Makes a well pad much more desirable if the rate of return is decent. Hope you continue to do well!!
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Permalink Reply by 0l1a6laz7smpf on
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Eric, if I might ask...how large is the unit where your 43 acres are?
and if you found out that there was another partner involved that still needed to pay you...you mentioned a day ago that you planned on calling them. Do you think if you hadn't read that production report by DEP and called about the discrepancy that they might not have told you about the other partner? I guess I wonder if the Lessor is going to have to figure all this out instead of these partners that are from 'lease assigns/flips' knowing where the Lessor is and that they should pay the Lessor? In your case it is an American company...but for some the partners are the government of China or the government in India, etc. I thought the royalty payment would come from the oil company that leased with the Lessor....are you surprised that you had to call the partner...do you think they would have just sent you the payment if you hadn't called?
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Permalink Reply by Clinton44 on
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The unit size is around 650 acres around 350 of those acres are COP (commonwealth owned property) owned by the state of PA. The other acreage is split between 83 other fee holders (property owners I assume) as they were called by the Anadarko representatives that I have spoken with. All the Anadarko people that I have had contact with in person or on the phone have all been helpful and sent me in the direction of poeple within their company that knew the answers to the questions we had. We were fortunate enough to meet a local representative that actually took some of our people on a tour of the well site while the wells were being drilled, (he was also the representative that tried in vain to get the non profit hunt club that first held the lease to allow them to put a water treatment facility on the surface area still controled buy the hunting association.) However,I have found the easiest way to deal with their royalty relations people is via email, their email answers have always been prompt, but short and to the point never devulging more information than requested.
When I discovered the discrepancy in production figures and questioned, it was the Anadarko royalty relations people who pointed me in the direction of their partner (Ultra Resources) and provided the necessary contact information for us to contact Ultra. How long it would have taken Ultra to contact us is a good question... I dont know how fast information flows between the partners as to when wells go into production seeing as the wells only started producing in November,also have to take into account the number of other individuals involved in the unit.. I at this time would have to give Ultra the benefit of the doubt as they were probably wadeing through all the paper work, trying to figure out who they had to contact to get the proper information EIN tax numbers etc. to start the payment process. I just feel I beat them to it by making initial contact. I sent an email followed up by a phone call when I did not recieve a return email in what I thought was an appropriate time frame. Phone call was returned promptly, Once in contact with Ultra royalty relations they were prompt in getting the paperwork in order and getting us set up for payment by the end of this month.
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Permalink Reply by mlb on
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Eric, after they made the pad, how long did it take approximately for any royalties to show up? I know what the drill and frac times are roughly per well, 45 days per well give or take. A pad may be on my place late this summer so I am trying to anticipate a bit. I have heard a within a year to 18 months from them but wanted to hear from someone with 1st hand experience. Beats speculating! Thanks again.
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Permalink Reply by Jason Hsu on
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My pad was made and 1 well out of the 6 permitted was drilled in feb of 2011 and it was finished in august. The problem that I am experiencing is that the pipeline there has not been built. Until the pipline is built you won't be seeing any royalties.
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Permalink Reply by Clinton44 on
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Hi Jason, We wre fortunate in our area there were existing pipe lines in the Hyner View area that they could tie their gathering pipelines into fairly quickly.
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Permalink Reply by Jason Hsu on
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The nearest one of ours is a mile down.. i'm guessing they're just trying to get the right of way.. hopefully it'll be soon.. My well is the gateway to another 5 wells further out.
So Eric.. what are you doing with allll the money.. it sounds like a pretty good amount every month,.
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Permalink Reply by Clinton44 on
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What part of PA are you in?? I must split the take with 11other members in the LLC.. will spend $$ on debt reduction first. Then education expenses for our son!
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Permalink Reply by Jason Hsu on
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The land is in Bradford PA, in wells township.
My wife and I actually like in Maryland near baltimore. I believe 40 of our acres out of 100 is in a unit right now. It's drilled, setup etc.. all we need is the pipeline.
We're thinking of using whatever money to get a new house and retirement.
What about you?
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