Replies to This Discussion

Permalink Reply by North LA on April 18, 2013 at 14:17

Another fresh rumor is that there are 10-15 landmen who returned to the Columbia county courthouse in Arkansas and are currently working on leases.

Permalink Reply by Jimburgess on April 19, 2013 at 7:05

I called Columbia County Circuit clerks office and they said there was normal activity

as always...nothing out of ordinary as far as leasing activity.  Just curious where this

rumor came from........just hoping it was true.

Jim B.

Permalink Reply by North LA on April 19, 2013 at 8:36

Try the county clerk and not the circuit clerk.

http://www.countyofcolumbia.net/county-clerk/

Permalink Reply by Jimburgess on April 26, 2013 at 3:43

This a followup......thanks to North La. directing me to Columbia County clerks

office in Magnolia.......rumor is true that there are many new lease persons working

the files........good news......Jim Burgess

Permalink Reply by mark walker on April 30, 2013 at 7:34

We operate 2 Smackover wells in southern Columbia co., AR. We got a letter yesterday requesting an easement to shoot a seismic survey across our acreage.

According to the permit agent there is no customer.....it is a spec shoot by the seismic company..

Permalink Reply by Krkyoldhag on April 30, 2013 at 7:59

Even National Enquirer got it right sometimes.  And if rumor all we have let's go with it  some things that sound far fetched turn out to be true.

Note today natural gas price.   I think its has found it's bottom..$4.25ish and now it perched to make a rise to the $5 level.

Sure hope I right this time.

Permalink Reply by Skip Peel - Mineral Consultant on April 30, 2013 at 9:18

The Monthly NYMEX - Natural Gas Contract Settlement Price for May - $4.152.  First monthly settlement price above $4 since July 2011.

Permalink Reply by shale player on April 30, 2013 at 12:01

I worked this project in a former life.  With the exception of the production rates, all the speculation is way off base.  Sorry.  This stuff is fun to read but is nearly 100% wrong.

WB lost their farm-out from XOM and had to get it renegotiated before they could move forward.  They could not get any investors to bite three years ago based on a short well test and low oil prices.

Almost all of XOM's acreage is fee, so they get to sit back, observe, laugh, and figure out what works and what does not before they spend a single dime.  Nice to have fee acreage from 70+ years ago.

Once I figure out what I can and can't say based on a CA I will post more. 

Regards,

Me

Permalink Reply by North LA on April 30, 2013 at 12:51

Glad to have you on board shale player. You think this thing is ever going to amount to an economic play or is another Utica flop?

Permalink Reply by Bubba on May 1, 2013 at 6:06

Shale Player,

WB losing their farmout explains the delay in getting the well on. I wouldn't call the well test "short". I am looking at it and the well tested over 500 BOPD and 2.7 MMcfd every hour over an 8 day period from 8/11/09 to 8/18/09. NYMEX oil prices were $71.14/bbl that month so I'm scratching my head why any working interest partners would balk about completing the well. I understand XOM can sit on their fee acreage but I would think WB would have to actively develop their farmout or lose it. 

Permalink Reply by shale player on May 1, 2013 at 6:44

They had to install a 6+ mile pipeline to get the gas to market and they had to install expensive H2S removal equipment just to get the well to sales.  They are a small company that is project funded.  This play is not for small players.  

The performance of their well does not make sense to those that know the rock/formation.  The have to be into a fracture system but nobody can explain it.  Again, nobody being those that get paid big $'s to figure these things out. 

Once they lost their farm-out  they had to work with XOM and their investors to get it back.  XOM was in no hurry as they are in the catbird seat. 

Permalink Reply by Big Little Oil on May 1, 2013 at 6:55

Explanation given to me is that there are lenses of higher porosity in the BD. W-B likely found one.

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