Replies to This Discussion

Permalink Reply by WPJ on January 30, 2009 at 9:30

Don't have direct info, but I just got an offer in the mail to buy our royalty rights in the McSwain Gas Unit for $54,000, so my guess is that someone knows something I don't about the two new Devon wells now being drilled (one of which is McSwain 7). For them to offer $54,000 on our small royalty interests (we received about $450/mo on average last yr), they must think something big is going on with the McSwain unit.

Permalink Reply by intrepid on January 30, 2009 at 10:27

How many wells was that based on? Probably the last two wells were not included in any of those payments?

Permalink Reply by Cheerleader on January 30, 2009 at 11:29

William P. Johnston.
Which McSwan well have you been paid royalty and....What is your royalty interest in that particular McSwain well? Do you have a royalty interest in McSwain #7 ?

Permalink Reply by WPJ on January 31, 2009 at 15:46

Our Royalty Interest is in the entire McSwain Gas Unit, so we get some amt of royalty payment off of each of the McSwain wells. So far we have gotten payments from #1 #2 #3 #5 & #6, but they of course have not brought #4 & #7 on line yet. #4 & #7 have been in progress for a while now, and I would think they are close on both. Although we have an interest in the whole unit, it is tiny (.031% - that's 3-100ths of 1%). Our offer for our royalty to be bought was from San Saba Royalty Co. out of Dallas. We aren't going to sell, but this perked our ears up because every time in the past that someone has come out of the blue and wanted to buy our interests, something good was about to happen. I hope that is the case this time .

Permalink Reply by WPJ on February 2, 2009 at 7:59

Oops! - Just got a revised offer for our royalty interest from San Saba, and they have gone from a $54,000 offer to a $24,000 offer. I guess they noticed what has happened to the recent price of gas, or noted problems with the McSwain #7, or something. I don't really take these kinds of offers in the mail too seriously, but at times they do indicate that SOMETHING is going on that they are trying to take advantage of. Oh, well!

Permalink Reply by intrepid on February 2, 2009 at 8:08

They're just trying to set you up to jump on their next offer of $36,000. :)

Permalink Reply by adubu on February 5, 2009 at 12:35

If your interest is .031% RI you have 3.1% of well. 3/100 of 1% would be .00031% Look at pay sheet again at interest calculated. How many acres of minerals do you have. San Saba are the biggest theft in the business. Your interest is most likely worth 10-50 times what they offered you. Tell you children and other heirs to never never sell the minerals.

Permalink Reply by Betty Jacks on February 2, 2009 at 8:38

What Survey is the McSwain wells on?

Permalink Reply by WPJ on February 2, 2009 at 9:36

Several - The ones I know of are J D Redditt / 1148, & Gideon Goss / 1056.

Permalink Reply by Driller on November 13, 2009 at 8:52

The McSwain 7 drilled by Devon is in a different unit than the Newfield unit(423 acres) which has McSwain 1,2 and 3 which they lost circ at 4400' and p & a. I know that the Hatton Svy is in Newfields McSwain unit along with Cabots Border 4.

Permalink Reply by WPJ on February 11, 2009 at 7:13

Discussion seems to have died down on McSwain 7H. Any more word on anything regarding completion testing? Are they really having casing problems? If so, what impact is that going to have? How about McSwain #4, has anybody heard anything about #4? It should be about ready to go into production as well, but nothing is being discussed about it. It started drilling last July, supposedly.

Permalink Reply by intrepid on February 15, 2009 at 6:10

Devon Energy completed the McSwain Well No. 7-H to 15,927 feet 8.9 miles southwest of Center in the Stockman Field. On an adjustable choke the well potentialed 2.500 million cubic feet of gas in the Cotton Valley.

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