Will Chesapeake or Anybody be Drilling For Oil In South Caddo Parish in Section 30?
Will there be any oil drilling in 11W 15R section 30 soon or should we sell and git while the gittin's good? Our royalties are not what was promised and we are thinking that selling might be the way to go at our age. We want to make a responsible decision for our future.The gas has been a disappointment considering the hype and now reality is sniffing round the door and we need to make a decision. Any advice would be welcomed.
Thanks In Advance.
Paul
Views: 1170
Replies to This Discussion
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Permalink Reply by Two Dogs, Pirate on -
How much property do you have Paul?
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Permalink Reply by HBP on
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Are you talking about Sec. 30-T15N-R11W??
The Zimmerman was a good well and you're surrounded by 6+ BCF Haynesvilles. However I believe 30 has the short end of a new CHK CUL which may allow them to Hold without a new full lateral- See CUL discussion on main page for more on that.
All that said - If you were to sell there - you would have multiple parties interested.
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Permalink Reply by Paul on
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Yes that is the section etc. Please explain what all that meant? We have the Zimmerman well as well as a shale well. I'm just trying to look long term in a situation I know nothing about. I don't want to sell and have a boom happen but all the hype we were told about the shale well has yet to pan out. If they are going to drill for oil in the near future then we'll stay put but if that is all the smoke and mirrors we got about the shale, then, we'll move on. I'm so tired of people telling us that the shale is a million dollar deal and finding out that that is complete BS. They have chocked our well back to nothing and at this point the Zimmerman well is a better producer than the Chesipeake shale well!!! it's all so hard to figure out.
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Consider why someone would buy your future royalties now.
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Permalink Reply by Two Dogs, Pirate on
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Paul these folks are gambling on things getting better in the market for natural gas, that is why they make offers for mineral rights. They think they can make money. The truth is that they can loose everything if world events don't turn out the way they are betting.
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