Replies to This Discussion

Permalink Reply by RichR on October 10, 2012 at 4:47am

Bump

Permalink Reply by RichR on October 31, 2012 at 4:55am

Bumping thread to the top again.  Is anyone being contacted?

Permalink Reply by Samuel J. Orr on October 10, 2012 at 5:04am

What do you mean by posting the single word "Bump"? I pose this question seiously because I do not understand computer jargon or even all the slang terms in the O&G industry. By the way in O&G terminology what does the word "SPUD" mean? Pardon my level of ignorance?

Permalink Reply by RichR on October 10, 2012 at 5:35am

Ha!  That is just to bring the subject back up to the top before it gets pushed into a corner somewhere never to be read again.  I assume spud means to drill.

Thanks for responding.  At least somebody is reading the threads here.

Permalink Reply by Samuel J. Orr on October 10, 2012 at 8:01am

Rich: Thanks for the explanation.  Iam glad to know why you used  "bump". Seems to me that a lot of relevant threads just spontaneuosly die.

Permalink Reply by RichR on October 10, 2012 at 8:32am

I should have said "Bump thread to the top."

Permalink Reply by Debbie on October 18, 2012 at 11:09am

According to the Investment encyclopedia, "SPUD" means:

Definition of 'Spud'

In the oil and gas industry, the process of beginning to drill a well. Initially a larger drill bit is used to drill a surface hole, which is lined with casing and cement to protect groundwater. After the surface hole is completed, the main drill bit is inserted and the well is drilled to the total depth.

Can also be referred to as “spudding in”.

Permalink Reply by M.A.B. on October 16, 2012 at 1:34am

I was recently contacted again. They are offering 750/acre (was 500) and 15% (same). It is over 5 years

Permalink Reply by RichR on October 16, 2012 at 2:23am

I would hang up on them with that kind of offer.  $3500 and 20% with no deductions, and some good addenda.

Permalink Reply by M.A.B. on October 17, 2012 at 4:12am

the 750/acre was per year for 5 years - 3750/acre. they are too late as i have already signed with someone else recently

Permalink Reply by james on October 17, 2012 at 6:52am

Who did you sign with? How much per acre and percentage did you get? Thanks.

Permalink Reply by RichR on October 18, 2012 at 2:14am

That sounds much better.   If it $750 total for the five years I would have hung up.  Did you get any addenda added in your favor?

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