Comment

Comment by Bill DeVore on January 28, 2013 at 3:02am

  Guys, I got the check net amount on Friday and will have more info this week when it arrives. I have 54 acres and 40 are in the unit. I am at 1/8 royalty. They said that the check is for September and no others will be cut until repairs are made at the site.I am sure things may be better once the pipeline is in but i was shocked at the dollar amount on the 1st one. I am sure i jumped the gun with my dissappointment and am grateful for whatever it is. Maybe things will be better in the future.

Comment by Dan on January 27, 2013 at 6:54am

Bill, there are so many variables that determine your royalty.  So far you've been asked about the well production numbers, how much of your 40 acres is in the unit, what % were taken for taxes, and how many days of production there were in that first month of production.

Then there are other factors like:

What is your royalty percentage?

Is your royalty based on net or gross revenue?

How many acres are in your drilling unit?

What was the market paying for gas/oil during that period?

I had thought that the Henderson well wasn't as good a producer as some of the others have shown, but still I would have thought your royalty would be higher.

Comment by Dan on January 27, 2013 at 2:29am

And Bill, if this is your first month, how many days of production were there in the month?

Comment by Al Cramblett on January 26, 2013 at 8:39am

Bill, what % did they retain for taxes?

Comment by jonathan M. on January 25, 2013 at 11:23am

Bill,

Those numbers seem lower than others I've heard from caroll county. I've heard 100-300/acre/month. Are all 40 acres included in the unit? Can you give us some production numbers?

Thanks

Comment by Buckeye Fan on January 25, 2013 at 9:17am

Bill, I thought they held your first royalty check for the first 90 days of production? Did they include a breakdown of the production numbers?

 

Comment by Bill DeVore on January 25, 2013 at 9:10am

 How is this for dissappointment? I have 40 acres in the Henderson well .My first month royalty check after taxes is 45.00 per acre. Pathetic i think.

Comment by Al Cramblett on January 23, 2013 at 4:48am

Dan and Randy, it's nice to see the two of you back posting again! An additional concern that I have is the depressed prices for natural gas and NGL. This issue should also be of concern to all those who have new wells that are in production or are about to enter production. Some new wells are actually being shut him as discussed in the following article:

http://www.mountvernonnews.com/local/13/01/17/article?id=3

Also, there's an article in a local Iowa newspaper today which reported that the Sierra Club is forcing some utility companies to convert from coal to natural gas. An agreement settled out of court requires an Iowa utility to convert three coal burner sites to natural gas by 2016. This is the time frame that natural gas prices will be recovering from my perspective.

Comment by Dan on January 22, 2013 at 11:43pm

There's an article here about a recent sitiuation in Stock township on the Dodson well pad.  Apparently rainwater carrying limestone dust from the pad construction seeped through the pad and into the ground water, where it showed up downhill emerging from some natural springs and made it's way into a stream.  The County Health Department and Ohio EPA are involved, and Chesapeake is cooperating with the investigation.  Does anyone have more information on this?  The article is unclear whether the contamination is really seepage or surface runoff, but it is troubling to me either way. There was either a failure to make the pad impermeable or a failure to capture runoff from the site.  While in this case the calcium carbonate is considered benign, next time it could be chemicals or flowback fluids spilled on the pad seeping into these springs, so this is something that needs to be corrected now and prevented on future pads. 

Comment by Shower Bath on January 22, 2013 at 3:20pm

Gulfport has released the Clay well results. See the link...

http://ir.gulfportenergy.com/releasedetail.cfm?ReleaseID=734739

Randy

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