The below rig setup was completed on labor day. NO I will not get any part of this oil well if it is a producer.
I can always dream that I will be included in a future one. There are a few model T's out there that I would like to have.
Oh, I forgot, the rig is a little over a mile from my front door in rural Texas. I see and hear it every day.
US crude is profitable to extract at the present $100/bbl. It will probably stay that high until Iraq comes back on line in a big way. Iraq has world's #2 proven reserves, and it's practically lying on the ground. Even with the restrictions on Iraq after the Gulf war, crude was just $28/bbl in 2000.
It's been said that Saudia Arabia has been helping ISIS. That's one way to restrict the competition.
Planning a move to them hills (Beverly, that is,) if you strike oil?
If I ever got that lucky I wouldn't move to califunny I would buy 1000 acres in the middle of nowhere and park a $300k+ RV in the middle of it go to town for gas once a month and build a big ol' pole barn to store as many "T's" as I could find!
Here in Arkansas we have the Fayettville Shale (natural gas) Most of the landowners in our area of Arkansas, still had their mineral rights. So many in Texas and Oklahioma are not that lucky. Years of drilling in Texas and Okla. have resulted in the mineral rights being sold. Maybe they will move into your section. We at this time have 21 producing wells either in our section or cross section wells. We do not have a lot of land (so equals a small check), but the royalities are nice. We use ours for vacations or just blow it. We do not ever want to depend on the checks to pay bills with. But..... There is one old farmer I know. He owned almost a whole section of land. The land was canyons, rocks, boulders, scrub trees, and clay fields. Not really worth doing anything with. His last royality check was over 62,000 dollars per month (that is not a typo) That is every month. It goes up and down depending on the price of natural gas but that is a good average. I am happy for that man. He has changed his lifestyle very little. His truck is a little newer, he has a couple hired workers to help on the farm (pays them a good rate), so it is looking nicer, he has hired some work done to the old farm house. but that is about it. But there are others that have went into debt to build fine new homes, buy big gas guzzling trucks, a half dozen 4 wheelers, bass boats, ect. Then when the gas price goes down they can not make the payments, and lose it all. There are dozens of divorces I know of, because of the effects of the "fast money" There is good and bad that goes with the easy money. So if you hit the "big time" and the cash is flowing in. Do not let it go to your head, and do not go crazy buying model Ts. I would say One new Model T each month should be enough . I would start with a nice 1909 two lever, then a 09 touring and then a roadster, do not forget a good Torpedo would be nice ......
Check and see if they are angle drilling under your property, OH do you have mineral
rights. They will suck everything out and you'll never know it. There gain your loss, Big oil Company's at work. I spent a little time working on oil and gas leasing and drilling in the 70's & 80's.
Bob, how do you know what angle they're drilling?
We have half the mineral rights on our lot, and there are lots of wells within two miles.
From where I set typing this, there are/were 12 of those rigs drilling. Its all about the Utica and Marcellus shale that is in this part of Ohio. Usually they are 5500 ft deep and 6000ft horizontal. Sometimes 6 holes per pad. One well about 1 mile from me is 20Mcfm of gas per day, average is lower but in addition is the petroleum coming from these, wet gas and oil.
Dont let people tell you we should drill more for our energy independance, most of the companies working here are over seas companies and this gas and oil is heading to the East coast ports!
Most of us here still have our deep mineral rights, but no coal rights. It has made alot of millionaires around here.
Pipelines and compressor stations are every where. Laborer, pipefitter, operator union halls are all empty. 7 x 12 hour days are not uncommon. If you are a young man you can make a really good nest egg around here.
The infrastucture is taking a beating, the roads are getting to be almost unpassable sometimes, traffic jams on gravel county roads. They tell me from start to finish there will be 1000 trucks in and out of the well site till it gets into production. No motel rooms at all, resturants packed, campgrounds packed, increase in crimes.
So take the good with the bad. I will just hang on till the boom is over in a few years.
Anybody wanna invest in a seismograph?
And to think, when I have gas, all that happens is everyone groans and leaves the room !
Remember what Barney says: Sharing is caring !
There is oil and gas in our area. Almost all the wells drilled are horizontal. Most of those horizontal parts are more than a mile long. The "Texas Railroad commission" permits the wells and is supposed to try to keep the oil companies honest.
The slant drilling is used offshore for multiple wells drilled off the same platform. In our lightly populated rural area, they drill vertical and about 500 ft above the horizontal section, they start to kick the bit and start that 90 degree bend.
I find it hard to believe that pipe can bend that much, but that is supposed to happen??
If someone wants to read, there is lots of information on horizontal drilling and fracking the formation on the computer.
The seismic crews have been working around here. There was a guy collecting the sensors just a couple of days ago, so I don't have to worry about running over them when I mow. I'll be very surprised if anything comes of it, but an extra couple of Benjamins a month would be nice.
Steve, we had the seismic crews here about three years ago. They parked on my farm for about 4 months and brought in a little beer drinking money. I hit at few of their sensors while mowing, never did hear anything from them concerning the sensors.
They seem to be drilling a few random well locations or maybe going by the seismic results??
The same company has drilled a lot of wells about 10 miles to the south of me with some great results.
My fingers are still crossed for more Model T money before I get to darn "old" to enjoy it.