cleller
9/18/2012, 03:08 PM
Just down the road from us they drilled a gas well 10 years ago. They actually drilled 3 wells, I believe. Now they are going to come back and drill another well, this time going under our section.
Somehow, we own 6.33 acres of the mineral rights under our 160 acres in east Lincoln County. The well is going to be 4500 ft, and has 640 acre spacing. In an email, I thought the landman handling the deal mentioned they were looking for oil, but I think I may have misunderstood. That seems shallow, and at odds with what they've already done.
Anyway, if they hit something, does 6 acres really amount to anything? I know that's a very broad question with little info, especially consider the difference in price of oil and gas. I guess everyone gets goofy when dealing with royalties, I'm trying to just not think much about it.
Somehow, we own 6.33 acres of the mineral rights under our 160 acres in east Lincoln County. The well is going to be 4500 ft, and has 640 acre spacing. In an email, I thought the landman handling the deal mentioned they were looking for oil, but I think I may have misunderstood. That seems shallow, and at odds with what they've already done.
Anyway, if they hit something, does 6 acres really amount to anything? I know that's a very broad question with little info, especially consider the difference in price of oil and gas. I guess everyone gets goofy when dealing with royalties, I'm trying to just not think much about it.