21 Jan “Everybody’s Working (on) the Weekend…”
Posted at 09:10h
in News and Opinions
| Quick updates on points available in programs happening NOW! (the band is “Loverboy” for those playing along). Get them while they’re hot! 1219 – TX Single Well Re-Entry – RIG ARRIVES TUESDAY Operator Notes: “Rig Company has informed us they expect will be on our location next Tuesday. They are servicing the rig this week in their yard. We have moved in a Frac tank with Brine water, ordered our plug to cement bellow our perf points, and waiting on the pipe racks to be delivered. The first order of operations, after rigging up, is to pull the production tubing and stack on pipe racks.” ▪Re-Entry into existing well where the cement job failed in another payzone ▪Plan is to come uphole to frac in the Lower and Upper Wilcox to produce +40 BOPD & 2MMCFPD ▪Estimated 6-8 month payout based on $80 oil and $3.50 gas ▪Over 1.9BCF and 22MBO in reserves ▪$14,800 per WI point @ 75%NRI. Only 6% available |
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| 1222 – KS 2 Well Drilling Program – RIG ARRIVES MONDAY Operator Notes: “The dirt work has been completed on the first location and pieces of the rig have started to arrive. We should have everything set up and the well started drilling on Monday. We will be cutting cores on this well to learn more about our steady Marmaton formation. This program has a few spots left that are available until the 1st.▪2400 acre lease in Central KS▪Operator to drill 2 offset vertical wells to complete in the Marmaton – estimated reserves of 75MBO per well in this payzone alone ▪2 Secondary payzones estimated 35-100MBO per well in reserves ▪Lease has recently completed well producing 40 bopd and 3 more drilled awaiting completion ▪Estimated payout under 12 months upon successful completion of all wells @ $80 oil ▪Estimated 2:1 payout in 3 years for single payzones ▪$23k per 1%WI @ 80%NRI. First right of refusal on subsequent development on leasehold. 8% WI available. |