Replies to This Discussion

Oil & Gas ProPermalink Reply by Two Dogs, Pirate on March 30, 2009 at 16:21

We have pretty much culled everything that we can't be a player in, so UMI will fall by the wayside. Maybe the next big boy will step up to the counter.

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on March 30, 2009 at 16:16

Jim. Just a thought. Many members do not know what AFE stands for. I think the explanation holds some relevance for what the industry, and this play, is all about.

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Oil & Gas ProPermalink Reply by Two Dogs, Pirate on March 30, 2009 at 16:36

Skip it is time for all on GHS to understand the buz words and their meaning. I think that someone other than yourself should come up with a condensed dictionary of what buz words mean. UMI, HBP, AFE and so on.

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on March 30, 2009 at 16:43

Okay. Find us a volunteer or start a group effort. But keep in mind, the length of time we have been on the site has little relevance to those who joined yesterday. Or last week. We often fall into the habit of speaking to each other in a conversational tone that takes for granted certain basics of this play and it's jargon. Not everyone is comfortable asking for definitions/explanations on the main page. And AFE has gotten a heck of a lot less play than HBP or UMI.

landownerPermalink Reply by danny meyers on March 30, 2009 at 16:50

Great idea . All for the dictionary. Some of us could use it.

Oil & Gas ProPermalink Reply by Two Dogs, Pirate on March 30, 2009 at 16:53

I think that we would have someone lurking out there in the shadows that is probably smarter than me and you that could step up to the plate. Gohaynesvilleshale.com has over 10,000 members, many are savy in the terms of O&G.

landownerPermalink Reply by Catfish on March 31, 2009 at 1:44

I've been following this site for 10 months and I don't have a clue what AFE stands for. Please someone do this dictionary group.
Thanks

landownerPermalink Reply by Jack Blake on March 31, 2009 at 9:01

Jack Blake likes gambling at Texas Hold em. I'll gamble up to about $1000.00 max.....But when it came to the Haynesville bonus I could only gamble for about 2-3 days, I wasn't sleeping afraid the offer would be rescinded so I signed early for 4k/acre and got 80k.
I couldn't gamble for 80k in the hand looking for 200k in the bush.
If someone offered me a million I'd jump on it. Wish I could have fun gambling for a million. If I am talking anything over about $1000.00 gambling is no fun.......................
Long live the Haynesville Shale!!!!!!!!!!!!!!!!!!

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landownerPermalink Reply by Spring Branch,mineral owner on March 31, 2009 at 19:21

Catfish, AFE stands for Authorization for Expenditure. It is what the Operator of a well sends to the other Working Interest (WI) owners. Royalty Interest (RI) owners do not get an AFE. Now I've done one, somebody else can do some .

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on April 1, 2009 at 1:40

Thanks, SB. Catfish, I was just waiting for members to comment. If there is sufficient interest, I will start on a definition Blog when I get back in town.

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landownerPermalink Reply by Catfish on April 1, 2009 at 4:36

Skip,
KB has got one started.
Thanks to all!

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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on April 1, 2009 at 5:04

Yeah, I have been looking through it as I have time. Good job. Comprehensive. I haven't found a glossary of terms which is what I had in mind but I haven't finished reviewing it yet.

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