O.K. Newbie here so cut me some slack if I screw this up. I just noticed there's no discussion group for my parish and communication among our residents is sketchy and patchy at best because we are VERY new to the oil play, so we don't have any collective wisdom here. Any comments, insights, or even heresay welcome here. What I have to contribute is just information on lease rates and the areas they are concentrating in right now. (Averaging $150 for first three, varying for next two. From 1/6 to 1/5 royalties.) Devon is about a month into drilling it's first Tangipahoa well just a little north of me in Fluker, Louisiana. I have friends who are part of the unit but they are not hearing much of anything. Security at the site is TIGHT with our local sheriff's office maintaining 24 hour presence a couple of hundred yards from the rig itself. They ask you your business and write it all down. I think it's called a "tight hole" or something like that. They are also going to be buying all the pond water nearby. I don't know how much they are paying but will ask around.I have heard that our state is limiting the drilling of wells for water but I'm not sure of that. It was just hearsay from a friend. Well that's it for now.This is a great site. I've learned tons here. Amelia Resources has been a great help as well. Keep up the good work people.
tangi i was told today that the no good soterra in flucker was on a 2/64 choke and producing 400 barrels a day cant confirm this at all The guy lives in the big city of tangipahoa but he swears this is true My question is how often does Devon have to report production or if its to low are they required to report at all Love the forum facts or not it sure makes for some intresting reading and keeps the spirit up I am pretty sure its there if they will spend the time amd money to get it out
Hi again. Sonris has the choke listed as 6/64 and 267 barrels of water per day. I'm not sure how much difference 4/64s of an inch would make in terms of flow rate. Mayber somebody here acquainted with that kind of stuff could shed some light on it. It also says 35 barrels of oil but I have been told that that figure is actually closer to 150. Someone in the production unit recently told me that money from the well would be coming in soon. Maybe we'll be able to glean a little more information when that starts happening. Until then we just have to wait. Devon is very tight-lipped about everything and what little I've been able to find out so far is just from sheer over-powering nosiness and the graces of the good people on this board.
As far as the reporting requirements, I can't really help you there either. I'm just a landowner and I indirectly represent some other landowners who have no interest in keeping up with the day to day goings on in this emerging shale play. I am learning as fast as I can but the legal requirements of the state as to reporting are something I haven't even touched on yet. There are some people on this board who can answer your question though, and hopefully they'll read your post and respond. If I get time today though I will try to poke around on the computer and find something helpful.
And yes, the oil is there. We just need a better price. They don't seem to think it's worth it for just a few hundred barrels a day after they spend 12 to 15 million dollars. But the guys over in Livingston parish drilling vertical wells down into a traditional reservoir with an old-timey pump thing on top of it are thrilled to get a few hundred barrels a day after spending only 2 to 3 million dollars. It's all about the math and that's what's going to make or break us.
In the meantime though, thanks for reading and posting. Eyes and ears on the ground and fingers on the keyboard are the landowners' best contribution here.
O.K. I'm going to tear myself away from watching some paint dry here. Residents of Fluker who are in that piece-of-crap Soterra production unit are receiving money now. For the landowners I know of, they are receiving enough to probably pay for their health insurance every month. That is actually a good thing because I curse Blue Cross every month for what I have to pay them for me and mine, even though I know it is probably fair. Pennies from Heaven. Hopefully, if Devon comes back to drill that twin production unit they will lengthen the lateral, land it closer to the bottom of the formation, pump more proppant down there, and quadruple their output like good little boys. Unfortunately, that will probably only benefit Soterra LLC and not the Fluker residents, whose acreage in now captured by minimum production. Hopefully, if the Thomas well in Kentwood well proves up, the rigs will be lined up in Fluker trying to set up every 660 feet apart.
The people who are in the early test wells in the play that are drilled during the R&D phase are getting a tradeoff. They get a little royalty now, rather than a lot of royalty from a better well drilled later. The spacing rules should allow for at least 4 wells per unit, so if the play takes off and they downspace like the Haynesville, those mineral owners will benefit greatly from later production. Their consolation is that they get to get paid to wait for that happen, and at least they're getting some money rather than none if the play doesn't pan out.
What ever happened to Little Silver Creek Field?
I passed through Amite today. I don't want to rain on anyone's parade or anything, but the land men have closed down their office. The lady in the flower shop a couple of doors down said they moved to Clinton.
On a more positive note, I talked to someone else who has relatives in the Soterra production unit and they are getting some very nice checks right now. It's enough to live on, if you keep your lifestyle relatively simple.
Pretty much all of the leasing in TMS east has been shut down except for the occasional speculator. It will probably resume again once Goodrich and Encana get JV partners and Devon works its way through its inventory.
Tangi Ispoke to the supervisor at the office in amite last week One of my neighbors had been renting a house to a land guy and he went back home about 2 weeks ago He assured me Devon was still very active in the area but had leased about as much as they wanted and would probably close the Amite office and go back to clinton since that was a satelite in amite He told me nothing had changed with there planning as for as he knew Iguess time will tell Also i have had several people tell me the big trucks have been lined up on hwy 51 for the last several days waiting to get in at the Thomas well Hope they are beginning to do the frack job and all goes well for everyone
Thanks. Hopefully if they come back in the future they'll bring the BIG checks with them. :)
Who was the brainiac that gave the speaches around Kentwood(skinnys i think was one of the spots) telling people to hold out for more money??? he was from jackson or something
Great question WO! The fact is that the TMS is a decent play but is not panning out as hoped. The big lease bonuses are just not going to happen here. There may be quite a few landowners who got greedy and will never receive a dime because of that.
Hate to say it but looks like the ones that sold out royalty are the real winners in the Tangi play!