Just crunched some numbers from a Miss. Well in Garfield Co., OK and 20,000′ Woodford well in (South)Blaine County. First is area where $2000 buys the mineral right. Production in steep decline for oil, and gas is flat at 250,000 a day. I value them separately. By funny math, most would convert the gas to oil on a… Read More »
It came out this week that Permian Basin players are getting $1 for every $1.33 that they spend. Yet we see the notion that “shale oil” has made the USA the top producer and swing player. Imports are “down” to 25% of our consumption. Actually imports make up about 50% of our production because we import oil and… Read More »
Snow v SEECO is an Arkansas class action settlement out of Conway County, AR proposed (as of this date not approved). It purports to refund to the class of SEECO mineral owners some $30 million …but wait! Half is somehow taken out of the mix, and the lawyers want 45% of the $30 million for their fee. That… Read More »
How did you get your mineral rights? Did you buy them? Inherit them? Did your farm get leased? Do you know other than someone told you to file an affidavit of heirship and get the money rolling in? To value your mineral, the valuer needs to know what the legal description is – first and foremost. So you… Read More »
I am not a good bookkeeper but when my check stub arrives I read it and post it in a spreadsheet, then distribute the money to the stakeholders in our family trust. That partnership has a means of smooth transition so if I die suddenly, the checks continue to flow into the account and the names change on… Read More »
Peer review was supposed to be a method whereby a scientist who published articles had their scientific work scrutinized by a body of “peers”. The peer system is broken. There have been a huge number of self-serving periodicals, journals and on line journals that are “peer reviewed” by like-minded friends of the author. So much for peer review.… Read More »
The “keep it in the ground” snowflakes are certainly a clueless bunch. They have no idea what they are talking about and standing on the street and chanting while wearing faux fur, Dacron II filled nylon jackets with plastic zippers, and holding up signs made from vinyl speaks volumes about their nonsensical view of the world. Never mind… Read More »
Geothermal energy is the poor stepchild of low carbon footprint “alternative energy”. Why? Well, I suspect the fact it involves an actual drilling rig common to the oil patch has something to do with the ocular vision of those who prefer raptor killing windmills or expensive short lived solar panels. Geothermal involves a passive method where a hole… Read More »
Protesters in Fayetteville, AR are protesting the Diamond pipeline project that will take oil from Cushing, OK to a refinery in Memphis, TN. One protester claimed to have quit his job here in Arkansas, then gone to N. Dakota to protest at the DAPL site and then returned here to protest the Diamond pipeline. I suppose he rode… Read More »
The U.S. Geological Survey recently discovered the largest continuous oil and gas deposit ever found in the United States, officials said Tuesday.” What an utter crock of crap. The USGS does not “discover” anything. They do not drill. They do not do seismic, nor much of anything else other than accumulate data from the oil companies and their… Read More »