60 MMCFE Daily for First Thirty Days

Hi folks just hoping to hear what some of you're thoughts are on this

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Permalink Reply by colt on November 4, 2015 at 12:07pm
Yes good.. How many wells?
Permalink Reply by rmc on November 4, 2015 at 12:24pm
Six wells
Permalink Reply by colt on November 4, 2015 at 12:41pm
OK I kno several 4well pads that r doing 50m a day.
Permalink Reply by Joseph-Ohio on November 4, 2015 at 2:04pm

mmcfe = millions of cubic feet (of Natural Gas) equivalent

That must be all inclusive I would guess - Natural Gas + Oil + NGLs .

Can anyone confirm that definition ?

Permalink Reply by colt on November 4, 2015 at 3:04pm
I guess idk about rmc I was just talking about dry gas
Permalink Reply by rmc on November 5, 2015 at 1:04am
Yes Joseph that's my take on it as well includes oil ngl condensate.
In the companies third quarter release they said they where running about 19 percent liquids.
Permalink Reply by Joseph-Ohio on November 5, 2015 at 1:35am
Hope they're paying you for the NGLs.

Some on here (quite a few) write that they're not.

Some say some producers are actually charging their lessor for the removal of the NGLs (as waste) to enable selling the NG then not paying for the NGLs.

Guessing the outfit that extracts the NGLs ('cleans up' the NG) then sells the NGLs and makes a big buck for them.

Wondering if the outfit that extracts the NGLs is normally affiliated with the producer or a 'so called' arms length entity ?

Some also say their producer sells the ('cleaned up') NG to a related entity at below market prices and then the affiliate / related entity sells the NG to the market at market prices.

All of that sounds like a 'racket' to me.

Reading here on these pages about alot these kinds of things ending up in court.

Hope that's not what's happening to you.
Permalink Reply by Paul Butler on November 9, 2015 at 6:49am

The m stands for "mille" Latin for one thousand and the roman numeral for one thousand.

Permalink Reply by Joseph-Ohio on November 9, 2015 at 8:00am
Hence mom = 1,000 x 1,000 = 1,000,000.
Permalink Reply by Paul Butler on November 9, 2015 at 6:50am

.

Permalink Reply by searcherone on November 5, 2015 at 1:24am

And the location of the well is?   That would tell us if this is a new area of very high production of a well in somewhat established production area.

Permalink Reply by rmc on November 5, 2015 at 3:18am
Searcher one well pad is in Richill Greene county.
I haven't received a royality check as of yet so don't know how it's going to work out.
I learned that information by reading the companies third quarter info

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