Comment

Comment by Shower Bath on March 9, 2018 at 9:13am

The Ohio DNR released the 4th qtr. production results today. See the link

http://oilandgas.ohiodnr.gov/production

Comment by Al Cramblett on March 5, 2018 at 5:58pm

Dan,  It appears as though the per unit prices are close.  I think it unreasonable that there would be reductions carried forward from 2 to 3 years ago!

Comment by Dan on March 5, 2018 at 5:12pm

Al, I crunched through my numbers.

My February check averages per acre, $53 for oil, $1.49 gas, and $14.48 per barrel of NGL.

One caveat though is that while the report is basically for production in December of 2017, it has many entries for oil that are negative volumes, and those are for months back in 2015.  Those negative volumes skew the average on the oil price (besides lowering my royalty check!)

By the way, overall my drilling units per acre produced of 84 barrels of oil, 3700 MCF gas, and 416 barrels of NGLs for that December 2017 period.  (That's not my portion, that's the entire production for the units for that period.)

Then as I mentioned, CHK is also showing negative 27 barrels of oil per acre for the year 2015, which I admittedly don't fully understand, but assume it is supposed to be some sort of correction.  If anyone understands what these negative barrels mean, please share.

Comment by Al Cramblett on February 27, 2018 at 7:11pm

Thanks AT!

Comment by AT on February 27, 2018 at 6:01pm

You can get all your CHK royalty/check details by creating an online account here:

https://secure.oildexdx.com/chesapeake/login.asp

Comment by Al Cramblett on February 27, 2018 at 12:26pm

Yes Dan, the unit prices are shown on my monthly invoices. I'm receiving royalties from CHK also, but those are made via electronic payment so I never receive any detail.  I think I'll send an email and ask for the detail for this months payment.  Hope I don't get too upset upon seeing the data.

I am also receiving "working interest" payments for wells in CA.  The prices there are:  Oil-$50.00 to $63.33; Gas-$2.77 to $5.15

Comment by Dan on February 27, 2018 at 11:37am

Al, you came back with that quick.  Either your Atlas report has those numbers plainly shown, or you had already done some number crunching beforehand.  On my CHK check stub there are no easy numbers like yours.  My "stub" for last month was 8 pages in a tiny font and represents production from 3 different drilling units comprising a total of 11 different wells, with each well averaging 18 production entries (200 entries!).  Prices paid per product for each entry vary greatly (some actually are negative), and there are no totals or averages to be found on the stub besides the total $ per well.  To come up with an average price paid for the oil, gas, and ngls, I need to do a "little" figuring with a spreadsheet.  (I feel like there is purposeful obscurity in these stubs by CHK.)  With that said, I may crunch through one to see what I come up with.

Comment by Al Cramblett on February 27, 2018 at 10:55am

Dan, I think it to be necessary only to compare the prices received.  Mine are: $50.74 per Barrel of oil,  $26.10 per barrel of LNG, and $1.62 per MCF of gas (ouch!).

Comment by Dan on February 27, 2018 at 10:31am

Hi Al.  With CHK, my wells have been in production for around 3 years, and my royalty for January was about $5/acre/1% of royalty.  A third of what you are getting.  Of course we can't assume production was the same in that period because we are on different wells.  If my wells produced a third less than yours, then we are essentially getting the same price paid to us. While I highly doubt that is the case (and believe it is more likely that I am getting paid significantly less per barrel/mcf than you), it would be more revealing to compare $/barrel/acre/1%, although I realize that an equivalent-barrel number is harder to generate from the mix of oil (bbl), gas (mcf), and ngl(gal) numbers on the check stub.

Comment by AT on February 26, 2018 at 6:53pm

Al, Approximately $2.00 per acre under a CHK lease through KWGD here keeping in mind only 1 well in the 3-well unit has been drilled and producing! CHK = thieves!

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