Replies to This Discussion

Permalink Reply by cc walker on August 2, 2008 at 10:01

thanks,
most think ,you drill,next day you get money in bales.have no idea
of risk in drilling.you never here of ones that went busted with just
one bad well. afew reasons;blowout,lost circulation,pulled rig in,
posion gas,twist off drill pipe.the list of simple things is almost
endless.the smallest screw up in the oil field are only fixed wth
hugh amounts of money,if you are in as a partner and it goes bad
you owe your part.and if it can go wrong it will.so have about 20 mil
in reserve,jut for run of mill stuff.

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Permalink Reply by Johnson on August 2, 2008 at 12:06

What would you say the average well cost is....or will be in the hs.

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Permalink Reply by cc walker on August 2, 2008 at 13:19

i have had no money in these wells so i cannot say.
o/g companies doing local drilling ,10- 20 mill for vertical well
with no problems.their number on shale wells are larger,
they say,i feel sure it is larger.i hate to repeat these things
not having looked at the books.not much help

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Permalink Reply by Kenny on August 2, 2008 at 8:34

Be careful though guys, because if enough sign and your left out, they drill anyway, only thing is, you get nothing until all the cost associated with the well is returned and then you get the royalties...Signing bonus's are larger now than they have ever been and believe me, there is a signing bonus cap--so be careful and don't miss out

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Permalink Reply by Snake Stewart on August 2, 2008 at 8:50

Hello Kenny ole' boy , long time no write . If you have that magic number as far as that cap goes would you please let me know what it is . I would hate to go over that number and not know it. If you only lease 1/2 your land then the pool is where you want to be.With enough bonus that pool could be the consent pool ! Glad to see you are still tricking them Saudi's into letting you keep your head ! Have a good one and be safe. When this thing gets wound up you need to come home and stay home helping us get our goods out of the ground. There should be plenty of work for a fella' with your experience.

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