Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on March 23, 2018 at 6:45

Knowing if Hunter was a land company or an operating company is not connected to getting a good lease.  The point was whether your attorney knew the difference.  Good to hear you are satisfied with your lease,  I hope you get a number of good wells.  Keep posting whatever you hear.  Thanks and Good Luck.

Permalink Reply by littleasy on March 21, 2018 at 4:28

As someone said in a 1996 Forbes article about CHK Aubrey McClendon, “I wouldn’t bet with him, but I wouldn’t bet against him.”  I would doubt  that what is going on today is a “pump and dump scheme.”  I would imagine that with the price of poker going up like it has, you will start to see a pattern emerge that will tell a lot about operators confidence and capabilities?

Permalink Reply by Skip Peel - Mineral Consultant on March 21, 2018 at 4:45

If you bet against Aubrey, you would have been right about 50% of the time.  Success have lots of followers.  Bets gone bad are quickly forgotten my most.  Chesapeake leased over 100,000 acres across north Bossier and Caddo parishes and adjacent East Texas.  When the Haynesville Shale wells in north Caddo Parish were proven non-economic, Chesapeake put all that acreage up for sale.  There were no takers.  Aubrey ate they whole enchilada. I guess that is a modest example compared to when he almost bankrupted the company in a previous AC play.

Permalink Reply by William C. Morrison on March 21, 2018 at 4:46

Some folks thing the war drums are going with the possibility that President Trump will ditch the Iranian pact. It does not require Congressional approval since Congress did not have a say the first go round, it is like the Paris Environmental deal created by Obama. This AM oil is up, storage in Oklahoma is down a couple of million barrels. All of that conspires to raise the price of crude oil world wide. Maybe it will push a few oil patch executives to drill, maybe not. As Harry Potter said, "And now we wait."

Permalink Reply by Rock Man on March 21, 2018 at 5:10

Re: Update on WJ Energy Well

Just checked SONRIS - looks like they are back to drilling on this well. Based on the minimal reports posted, it looks like they have started to drill a new hole. Assuming that they never got the stuck drill pipe / fish recovered and have opted to side track around the "fish" and drill new hole.

Report dated 3/14/18 shows "Drilling In Progress" after testing blow out preventers on 3/12 and sliding and rotating (drilling) @ 13,898' on 3/13.

Looks like they lost about two weeks of drilling while they addressed their stuck drill pipe / fish issues prior to making decision to abandon fishing operations and drill sidetrack hole.

A lot of $$$$$$$$$ being spent here. And with a sidetrack and subsequent lateral wellbore deviations, potential completion problems just got a little bit more difficult (IMO)

Permalink Reply by William C. Morrison on March 21, 2018 at 5:16

Somebody made the difficult decision to keep on drilling. Must have great confidence that the well will be successful.

Permalink Reply by Doug Cox on March 21, 2018 at 5:41

I heard they they need a bigger rig with more HP complete finish @ faster pace due to change drilling a old to new well; so it's take more time to complete.

Permalink Reply by Skip Peel - Mineral Consultant on March 21, 2018 at 6:03

Precision Drilling Rig 515.

Rig: 515
Rig Type:	Super Triple
Division:	PDOS - US Drilling
Power:	1000 hp
Last Update:	03/20/2018
Status:	Drilling
Location:	31.04240 -92.24680

Permalink Reply by Rock Man on March 21, 2018 at 6:08

Good info. Could use some for horsepower but this should work. Good contractor with good equipment. 

Wonder if this has a top drive?

Permalink Reply by Rock Man on March 21, 2018 at 6:06

This may explain earlier comments about them enlarging location - need larger footprint for different rig.

Still wondering who the money is behind WJ - I can't see them being the initiating operator here.

Permalink Reply by littleasy on March 21, 2018 at 5:23

I just wonder what Stormy might say Sunday night?  Peak oil and geopolitical considerations have always driven petrodollar values, but Trump’s impulsiveness as evidenced by his firing of T-Rex may trump overall confidence.  Russia, Iran, the Middle East and N. Korea all pose serious security questions.  The one thing the stock market doesn’t like is uncertainty and volatility.  We in Central LA can only hope that Plainview was correct when he said, “There's a whole ocean of oil under our feet! No one can get at it except for me!”  And EOG!!!

Permalink Reply by Doug Cox on March 21, 2018 at 6:07

Skip, I heard 2000 hp, thanks for verifying 1000 hp.

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