TM --
Correct me if I'm wrong, please, but weren't most of the past wells financed and drilled by Halliburton and Western Gas? Which meant very little revenue to Ultra until the expenses were paid. And about the only Junior still breathing seems to be AOW. As far as future wells goes here's a few numbers for you: 9-8D, 10-8D, 11-8D, 14-8D,16-8D, 1-17D and 3-17D.
Know what those numbers are? They are ND (Not Drilled, permitted) wells surrounding Mesa 15-8, each in its own 40-acre quadrant. All Questar listed. Apparently they are all to be directionally drilled off the 15-8 pad next year. (All Surface Hole locations are the same 40-acre quadrant as Mesa 15-8; all Bottom Hole locations are one 40-acre quadrant removed). If so, those eight wells (Mesa 15-8 included) will drain 320 acres but with surface activity restricted to just one location! The question I have is -- will Ultra have a 30% revenue interest in each (as it does with the wells soon to be reported, Stewart Point 11-34D, Mocroft 1-21 and Mocroft 11-22)? Anyone know that answer?
Also, there are a dozen or so other wells listed for Questar and Anschutz, all in the area that Ultra dealt to raise the money this summer.
Gerry Atwater |
