Has anyone heard about Juraissac Shale in Desoto
no but I want to hear about it please
For the last 10 days I have heard it mentioned several times and each time people thought it might be associate with oil. Skip explained it below--just a different name for the Haynesville. I have heard of people getting lg. cash offers for minerals also. I know a reputable person who told me he had been offered $19,000 per ac. for his minerals in sec. 19 of T15 R14(Desoto).. He said he had it in writing and then couldn't find the offer. It had been over 2 wks. since he had the offer and was not interested in selling so probably threw it away. This is someone I take seriously as he deals in buying and flipping land. He is in his 80s but sharp as a tack.
Several red flags in this rumor, the first being oil. The second being the $19,000 per acre purchase offer. $19,000 is about 50% higher than any offer of which I am familiar. So it seems a stretch. Offers are also often directed to sections scheduled to get multiple new wells. Section 19 has 4 new wells but they began production in early 2016, April and May. 15N-14W is demonstrably good rock but the 4 new wells by now have declined by ~80%. It is likely that it will be some time before any new wells are drilled including this section. Buyer's discount projected future production because their goal is to make a profit. That would be quite difficult at $19,000 per acre and $2.80 gas even if these wells were just now starting production instead of at their highest 2 year decline.
Skip I think the wells drilled in Sec. 19 went south to that section(30). Right now there is one producing well in Sec. 19 but rumor (according to my friend) is that there will be CUL's drilled from the north into 19. Again I am just taking the gentleman's word and I have a lot of respect for this individual's knowledge.
I don't take anyone's word when I can go to the database and find the data required to answer a question or form a professional opinion. No offense but when you are a professional landman, you can't afford to take rumor as fact. Here are a list of the wells producing from Section 19.
Original unit well, Kelley 19-15-14H #1 S/N 239582
First alternate unit well, JHSN 30&19 -15-14HC, S/N 248998
Second alternate unit well, JHSN 30&19 -15-14HC, S/N 249246
Third alternate unit well, MCMIN 7&18&19 - 15-14HC, S/N 249353
Fourth alternate unit well, MCMIN 7&18&19 - 15-14HC, S/N 249354
I would give little credence to his gentleman's opinion if he does not even know how many wells are producing from his section. Doesn't make sense, they are listed on his royalty statement.
Technically Skip is correct. HOWEVER, I would consider the two McMin 7&18 & 19 wells to be Section 18 producing wells since they both bottom holed 450' and 480' FNL of Section 19. Just saying!
So the MCMIN wells, regardless of the amount of perforated lateral in Section 19, would appear on a royalty statement for that unit interest, correct? Would you consider $19,000 a reasonable price per acre? Just saying! :-)
No,, I'm a buyer, not a seller...…….. but there is clearly more development still to be done in 19 of 15-14.
Yes, some reserves remaining. But no evidence in the public record that further infill development is imminent. So, would you be a buyer at $19,000?
Didn't 248998 and 249246 bottom in sec. 30
The key to knowing what wells produce from what section is searching SONRIS by LUW Production. That's where I sourced the data for all 5 wells. The LUW for HA RA SU86 is 615665. Instead of looking through sections, organized by surface location, not by the section(s) being produced, use an LUW search. That will show every well producing from a specific unit under that LUW code number regardless of where the well pad/surface location is located. Although the S/Ns you mention "bottom in Sec. 30" they pass through Section 19, to the north, on the way there. We've been over this many times... however with Cross Unit Laterals, it becomes critical to search by LUW.
Well I am actually helping a client set up as an unleased mineral owner in Sec. 19 of 15/14 and I told my client/friend whom I am helping for FREE that he would be able to share in the CUL from Sec. 30 drilled north into 19 and he talked to a professional landman who said I didn't know what I was talking about and that there was only ONE paying well in Sec. 19 and that was the first one drilled in 2009. I did not look under the LUW code as I am not a professional but I could figure out that Sec. 19 would share in production; the landman told my client/friend otherwise so I figured I was wrong.