Replies to This Discussion

Permalink Reply by Cathy Pender on June 9, 2015 at 15:36

Hi Skip,

What does that mean, they should be completed in the next few days? Are you referring to the fracking? Does that just take a few days? 

I'm very very new at this stuff.

Thank you so much for your help!

Permalink Reply by Skip Peel - Mineral Consultant on June 9, 2015 at 15:49

Yes, fracking takes some days depending on the number of stages.  Long laterals can take a week.

Permalink Reply by Joe Aldridge on June 10, 2015 at 0:51

Skip, Are they going to frack now or wait? There are quite a few wells that have been drilled by a number of companies but are waiting for a frack and completion. We are now around +/- $70 with the LLS premium. When do you think the fracking will restart? 

Permalink Reply by Skip Peel - Mineral Consultant on June 10, 2015 at 1:00

Joe, as you know it's a challenge to keep up with completion ops as there is no reporting service.  First person reports from the field are required.  The Bloomer 2H has been in completion ops since last week according to another website.  The pace of completions did slow considerably but there have been other wells completed prior to the Bloomer over the last few months.  Some have been reported to the state, some have not.

As to the price of crude required to make TMS ops profitable, I don't know.  I think some areas may be profitable around the low $70's but there is insufficient data to for much of the play area.  It would take triple the current number of wells to HBP the number of acres under lease by the major TMS players.  It doesn't appear that those "lease capture" wells would be profitable below $85 even with reduced drilling and completion costs.

Permalink Reply by Charles Bell on June 10, 2015 at 2:16

Hello Cathy,

Our group has also leased to Sanchez and are interested in the results from the fracking of the Bloomer 2H. If you hear anything I would appreciate you updating us. Our holdings are not that far away from the Bloomer. Thanks. And, thanks, Skip for posting progress on this.

Permalink Reply by Cathy Pender on June 10, 2015 at 2:24

Will do Charles. You as well.

Keeping our fingers crossed!

Permalink Reply by Charles Bell on June 28, 2015 at 1:09

Morning,

I have reached out to a few people asking about the status of this well and they have heard nothing. Has anyone got news on flow or IP? Good luck, Sanchez.

Permalink Reply by Skip Peel - Mineral Consultant on June 28, 2015 at 1:15

Too early for anyone to know either, Charles.  The well was just completed.  If it has begun to flow I suspect that it's only been in the last few days.  If it's a good well we may not hear any specifics until Sanchez makes a corporate announcement.  It is possible that the well will have a state test in the next week with a completion report entered in the database shortly thereafter.  We'll have to wait just a little longer.

Permalink Reply by Charles Bell on June 28, 2015 at 9:34

Thanks for the reply, Skip.

Permalink Reply by Cathy Pender on June 28, 2015 at 11:18

Can you find Sanchez's "corporate announcements" on their website? Or can we call them and find out?

Permalink Reply by Skip Peel - Mineral Consultant on June 28, 2015 at 11:31

No company provides information on wells by calling them unless it's a customer service call about royalty payments.  You can go to the Sanchez website and see if there is an option for subscribing to email announcements but there will not be any information on the site about this particular well.  It will take some days if not weeks for the well to clean up and for the state inspector to witness a flow test.  If it's a good well Sanchez is likely to make an announcement so they can put the best spin possible on it.  If its not an outstanding well Sanchez may not make mention of it, the completion report will simply be entered in the MS O&G database.  When it is available I will post the results.  I'm not going to start looking until later in the week and that would be early.

Permalink Reply by Cathy Pender on June 28, 2015 at 13:11

Thank you Skip! You are so awesome to help us with all this great information. We greatly appreciate it!

p.s. My grandparents were from Shreveport, La.

We had leased some property at one time to TXO. I somehow lost my mineral rights, or property ownership many years ago to a greedy Uncle. I was too young at the time to understand any of it and in my ignorance I lost my ownership. I guess I didn't pay the taxes we ( my sister and I) were suppose to pay. Blah Blah...sorry TMI~

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