Wiggins H

7.4 MMcfd, 22/64 choke, with 5450 lb per sq inch flowing casing pressure. 9 fracture stages pumped in the 3455 ft horizontal lateral.

Can someone tell me if what specifically all this means. Do these numbers represent a good producing well?

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Oil & Gas ProPermalink Reply by Two Dogs, Pirate on November 29, 2008 at 13:50
Sounds good to me Parker but you left out the oil on this well. 1180 BOPD X $130 per barrell, June/July = $153,400/640=$239.69 X 22.5 = $53.93 per month per acre. If the figures pass ok with you then feel free to add them to your calculation.

Oil & Gas ProPermalink Reply by Two Dogs, Pirate on November 29, 2008 at 14:18
I was refering to #235165 Parker must have made a boo boo in the serial number but her figures were correct for 235165.

landownerPermalink Reply by Bobi Carr ("parker") on November 29, 2008 at 16:52
KB,

The MCF and MMCF still confuse me.

Why cant they just use the full numbers?

Oil & Gas ProPermalink Reply by Two Dogs, Pirate on November 29, 2008 at 14:28
Looks like it is but it is also producing oil.

landownerPermalink Reply by VSC DeSoto South on November 29, 2008 at 14:52
I love math.
So if you had 6 acres that would be 3129.72 per month?
If after they build out there are 8 wells per unit you would have 25037.76 per month?
Could that be right? That about 300K per year?
OMG!

Do 8 wells run simultaneously or is 8 wells per acre over the life of the unit, like 3 new ones every few years over 20 years, or 8 wells going after they are all running for the remaining of 20 years?

This is even more exciting?

Oil & Gas ProPermalink Reply by Two Dogs, Pirate on November 29, 2008 at 15:21
They will hold you as HBP the pay out on the 8 wells will be a long term deal. Don't start spending money on your figures because it will not be there. One well may hold you for the next 20 years.

landownerPermalink Reply by VSC DeSoto South on November 29, 2008 at 17:59
In the Barnett how long did it take to get to 8 wells per unit?
Are they still coming back to fill in to 8 wells per unit?

This is like waiting to go to Disneyland after you parents tell you 3 months early and you are 8 years old.
Permalink Reply by Coach_SC on November 29, 2008 at 15:24
Need some help with the math. 30 acres with a well producing 7.4MMcf/day with a 25% royalty. What would be the per month royalty?

Oil & Gas ProPermalink Reply by Two Dogs, Pirate on November 29, 2008 at 15:39
Look at Parkers figures and replace 22.5 with 25.00.

landownerPermalink Reply by Bobi Carr ("parker") on November 29, 2008 at 16:52
VSC 'O',

Also look at Skip's old post about depletion rates.

But even a few months at these production rates are awesome. Consider what it would pay if (hopefully when) prices are higher.

landownerPermalink Reply by VSC DeSoto South on November 30, 2008 at 3:24
To KB:

I negotiated and signed with SWEPI late this summer, so too late to put the development requirements in the lease.
I did many other things but we did not put a clause in for that.
Hopefully someone else in the unit did, I am sure they did.


The advice to put in a clause in the lease though is a good one for anyone still in negotiations.

Thanks

landownerPermalink Reply by Bobi Carr ("parker") on November 30, 2008 at 5:19
Nor do you necessarily want them to put 8 in within a few years.

How about one or two now and more when prices are better?

But I have to agree, we don't have the power to tell them how to run their business. Not unless we've got the cash to punch our own wells instead of them doing it.

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