Replies to This Discussion

Permalink Reply by John Matherne on July 2, 2012 at 6:06

Report date: 04/01/2012

Opening stock 250

Oil/Condensate Production 855

Gas Production 292

Closing stock 353

Permalink Reply by John Matherne on August 2, 2012 at 1:35

Report date: 05/01/2012 Opening stock 250 Oil/Condensate Production 855 Gas Production 292 Closing stock 353

Permalink Reply by Barbara McGraw Burnett on August 2, 2012 at 1:44

I am not knowledgeable of the interpretations of these figures. Is this a daily production average? Is this amount considered good, average or poor? I heard they repermitted LaCour 42, is there anything new there?

Permalink Reply by Barbara McGraw Burnett on August 2, 2012 at 1:44

I am not knowledgeable of the interpretations of these figures. Is this a daily production average? Is this amount considered good, average or poor? I heard they repermitted LaCour 42, is there anything new there?

Permalink Reply by Barbara McGraw Burnett on August 2, 2012 at 1:45

I am not knowledgeable of the interpretations of these figures. Is this a daily production average? Is this amount considered good, average or poor? I heard they repermitted LaCour 42, is there anything new there?

Permalink Reply by Brad on August 2, 2012 at 2:30

that is not good

Permalink Reply by William C. Morrison on August 2, 2012 at 2:46

What's not good?  Oil plus Condensate ain't bad.  That's around a 1,000 barrels a day.  Looks pretty good to me.  I think you are under estimating the value of Condensate.  Another name for it is "drip."  As I understand it, Condensate is natural gas liquids that approaches unrefined gasoline.  That is some sense is better than oil, in that it has a higher content of gasoline and probably does not require extensive refining like oil.  So in my mind, things are indeed looking up.

Permalink Reply by Skip Peel - Mineral Consultant on August 2, 2012 at 2:58

William, the production data is reported by the month.

LEASE\UNIT\WELL PRODUCTION

RPT DATE	LUW CODE		DOC USE		OPENING STK	OIL PROD(BBL)	GAS PROD(MCF)	DISPOSITION	CLOSING STK	PARISH
05/01/2012	050956			1	353	943	450	1105	191	POINTE COUPEE
04/01/2012	050956			1	250	855	292	752	353	POINTE COUPEE
03/01/2012	050956			1	173	1848	814	1771	250	POINTE COUPEE
02/01/2012	050956			1	0	173	73	0	173	POINTE COUPEE
02/01/2012	050840			1	667	2330	992	2775	222	POINTE COUPEE
01/01/2012	050840			1	512	4158	2285	4003	667	POINTE COUPEE
12/01/2011	050840			1	642	5744	1904	5874	512	POINTE COUPEE
11/01/2011	050840			1	0	16552	4084	15910	642	POINTE COUPEE

Permalink Reply by Brad on August 2, 2012 at 7:20

dont be surprised if it is shut in soon

Permalink Reply by Andrew on August 2, 2012 at 8:33

They may not drill any more, but at 30 barrels a day they'd probably keep it open unless the lease operating expense is more than $50k, as they're still making money.

Permalink Reply by William C. Morrison on August 2, 2012 at 7:53

Thanks, I got it.  Lets see,   943 barrels at say an average of $85 per barrel would be $80,155.  20% royality would yield $16,031.   I am sure gas is cheap, so  with just oil the owners would get a nice piece of change there.  Not the greatest but a long way from 60 bucks a month my old buddy in Livonia got back in the sixties.  No it is not a barn burner but it is producing some income.  Even it if is half that monthly, it is a lot of money to me.

Am I missing something?  May not be a gusher but it is producing a nice income stream in my estimation.  Maybe not fast enough for Anadarko but I don't think it is shabby.

Permalink Reply by John Matherne on August 2, 2012 at 8:03

Oil 32,603 barrels in 8 months = 4075 month

32,603 x $85 x 20% = $554,251

I'd say keep drilling and get it right.

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