I have been contacted by a landman to lease in this area. The offer is $400.00/acre, 1/5 royalty for a three year lease. I am looking for info for this area. I know that most leases are for 25% these days. Any news on the wells in this STR? Thanks
Permalink Reply by wlt on October 19, 2010 at 2:31
The well in section 22 is not producing. They dropped part of a bit in hole while cleaning out. They fished for it for several days. I thought they were successful but maybe not. I'm not sure they fracked it.
Winston, keep in mind that this is a horizontal well. The surface location is in the SW corner of Section 22, more particularly 200' FSL (From South Line) and 700' FWL (From West Line). The lateral, producing portion of the well bore is in Section 27.
Permalink Reply by HMI on November 30, 2010 at 8:37
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What do you figure there cost is to drill these wells? Are you still looking at $6-$10 Mill ?