Replies to This Discussion

Permalink Reply by Terry L. Antee on June 13, 2012 at 2:25

It is not just doubling the production, it is the longevity of the production.

Permalink Reply by The_Baron on June 15, 2012 at 3:35

exactly. Simpy judging these wells on their IP is foolish. The real question is if they will hold up, how fast they decline and if they wil lever pay out.

 

 

Permalink Reply by Doug Boone on June 23, 2012 at 10:26

SW has tendered division orders on the Garrett. Pretty quick!

Permalink Reply by obed w odom on June 23, 2012 at 11:30

That is pretty fast. I also understand SWN is in the process of constructing a pipeline south to LA Alt 2, where they will connect to an existing pipeline.

Permalink Reply by Skip Peel - Mineral Consultant on June 23, 2012 at 11:35

With no other division order reviews to perform and only 17 tracts in the unit, it shouldn't take long to prepare the DO.

Permalink Reply by Timothy W. Hurckes on June 25, 2012 at 4:34

For the uninformed, what is an division order and what is the significance?

Permalink Reply by Skip Peel - Mineral Consultant on June 25, 2012 at 4:46

When a well is completed and the operator chooses to produce the well a Division Order title review and opinion is required to confirm the fractional interest of every party with ownership interest in the minerals underlying the well or unit.  An operator wants to have the Division Order complete before beginning to pay royalty (placing the well "in pay").  The Division Order is typically the most exhaustive and detailed review of title and often includes surveying all the tracts that are covered by the well or unit to insure accuracy.

Permalink Reply by Chip Sanches on June 26, 2012 at 5:00

Mention of "division orders" being issued for the Garrett well makes me wonder if I missed division order info regarding the original Roberson well in Columbia County. If division orders have never been sent out for that well, does that mean it was not "put into production" or could it mean that the Division Order title review is still under way? Or, are there other possible scenarios?

Permalink Reply by obed w odom on June 26, 2012 at 5:18

I think SWN may still be trying to do some science on the Roberson well. Steve Mueller mentioned at his presentation at the Citi conference on June 6 that they had isolated a portion in the heel of their lateral in the Roberson to do some further tests, but that they inadvertently fracked into the water above. He said they might sidetrack this portion and do some more tests.

Permalink Reply by Chip Sanches on June 26, 2012 at 5:40

Thanks Obed.

Permalink Reply by Joe Deerhunter on June 29, 2012 at 5:15

Sorry, I missed that presentation.  Maybe this is why my lawyer said the Roberson well is essentially "dead", and SWN dropped their pipeline project in the area.

Obed, could you give me any more info about that fracking into water problem?  Just curious.

Permalink Reply by obed w odom on June 29, 2012 at 6:03

Joe, the webcast of this presentation is still available for listening at the SWN website: www.swn.com

Click on "Investor Relations" and then on "Events and Presentations." This should bring up a screen allowing you to register to listen to the webcast of the June 6 presentation at the Citi conference.

I just re-listened to the webcast and the comments about the Roberson start about 25.5 minutes into the presentation. Mueller of SWN does say at the end, "we may isolate this zone and try it again," but he doesn't give any assurance of this.

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