Owners of minerals and royalties may be interested to learn that the Internal Revenue Code "IRC" allows a deduction known as “depletion” for oil & gas income. The depletion deduction could significantly reduce a royalty owner's income tax bill. Since a mineral interest runs out eventually (because the production 'depletes' the reserves in the ground), the IRC allows the taxpayer to claim a deduction for the decreased value of the property caused by production of minerals. One…
Added by Patrick Flueckiger on February 12, 2018 at 10:30am — No Comments
"I don’t know of any conference specifically related to detailed facility design and optimization with so many E&P company representatives present. It’s rare that facility designers and engineers meet to share learnings as our counterparts in land, geoscience and petroleum engineering do on a regular basis…and about time!"
Download full interview here - …
Added by jon shepherd on August 22, 2017 at 4:50am — No Comments
What is the current rate for leasing minerals in southern Atascosa County south of FM 541?Continue
Added by JDH on August 10, 2017 at 10:34pm — No Comments
Now that we are back on…Continue
Added by Keith (Site Publisher) on July 25, 2017 at 3:20pm — No Comments
After the close of trading on Friday, Halliburton released a statement saying the release of full earnings is postponed to May 3 from Monday, April 25, citing the deadline for the Baker Hughes deal as the reason.
They announced the merger in November 2014 in a deal now worth roughly $25 billion in…Continue
Added by Shon Mattox on April 27, 2016 at 11:09am — No Comments
Torchlight Energy (TRCH) has 168,000 acres in the Orogrande Basin west of El Paso. The land has a geologic pattern just like the Permian Basin and they are expecting to find a great deal of oil. A partner (a subsidiary of DH Horton) has given them $50 million to be a 50% partner. Price is a steal right now at $1,.25
Added by Paul Rabin on November 18, 2015 at 5:25am — No Comments
Added by John Ford on October 31, 2015 at 6:50pm — No Comments
The last 8 years have been quite a ride for the oil and gas industry and for our network. GoHaynesvilleShale, EagleFordForum and GoMarcellusShale have all weathered the ups and downs thrown at it. Despite this, we have succeeded. I have spoken with enough people to know that the network has…Continue
Added by Keith (Site Publisher) on May 26, 2015 at 4:00pm — No Comments
This is probably old news now, but CCGS has agreed to include the slides and notes from my December 10 talk on the origins of shale plays in the CCGS March Bulletin. This has a few changes for copyright concerns, but has the same essential content. This includes my now famous comments about why Antarctica changed the course of potential shale play formation in the Neogene. Questions are…Continue
Added by Woodson M. Godfrey on February 5, 2015 at 9:45am — No Comments
For the complete article use this link --> http://www.daily-times.com/election2014/ci_27283196/column-resource-war-and-san-juan-basin-oil
Resource War and San Juan Basin oil Oil and gas companies in the Southwest, the Rocky Mountains and the Dakotas are revising or recalibrating their capital budgets for 2015 as the price per barrel of west Texas intermediate…Continue
Added by John Ford on January 10, 2015 at 10:39am — No Comments
We have respectively, a NPRI and minerals in the Anderson (operated by EOG), and Lyssy (operated by Matador), both wells drilled to completion early this year. Having a devil of a time getting information about production, well status, etc. from the land men and others in the companies. (Phone calls not returned). As well, we have never received word that the original leases are held by production now that the primary terms of the leases have passed. We know that it takes several months to…Continue
Added by ER Havens on July 7, 2014 at 6:18pm — No Comments
Sanchez has finally moved their first rig into the Five Mile Creek area. This is the Five Mile Creek Unit "D" 1-H. Not sure if this RRc link will come through or not; but, anyway the Rig was moved in late last week and as of Monday was stood up getting ready for duty. This was the rig that moved from the Sante North unit. Water is just being hooked up to the Sante North, I would guess in preparation for the fraccing crews.…Continue
Added by Bigfoot on January 8, 2014 at 3:43pm — No Comments
Whoever first said "patience is a virtue"...probably never dreamed it would have natural resources implications....
Initially EOG believed that from 640 acres of its Eagle Ford property the company could recover 4.5 million barrels using 65 acre spacing.
Through trial and error, EOG has discovered that 40 acre spacing is actually going to work better which means the company will increase the amount of oil recovered by 42% and the net present value of that…Continue
I am trying to figure out a value for half of my minerals, (will equal .10 royalty multiplier) along with current oil production on the property with 500 surface acres. The OGL is within the core Marathon assets along Highway 99 in far southeast Atascosa county.
Does anyone have an idea on how I could arrive at an approximate value for the property?
Added by bryan james on August 1, 2013 at 7:30am — No Comments
I believe that the water produced from oil and gas wells in the Eagle Ford (and throughout South Texas) is or will be a valuable resource. Has anyone on this blog given thought to the pros and cons of treating and reusing this water versus disposal in injection wells? Stationary, commercial water treatment facilities make sense to me. E&P operators can stop worrying about onsite treatment. Much less truck traffic because of new salt water pipelines.
Disposal wells will…Continue
Added by Doug Hall on July 3, 2013 at 10:39pm — No Comments
Does anyone know how to find the property that my family owns to see if they could be drilling on it.
I'm a little confused because we've received offers from twelve different companies wanting to buy our mineral rights since EOG leased it from us. On all of the offers except one, they show the property in LaSalle County. From what I understand, we own 10 acres in McMullen Co. and about one acre in LaSalle Co. I don't know why they would be interested in just the one acre. Here is…Continue
Encana Oil & Gas (USA) Inc. — the Denver-based U.S. unit of Canada's Encana Corp. — will…Continue
Added by John Ford on April 28, 2013 at 10:49pm — No Comments