RE: "By giving your home address your identity is known to them."
Oh but I didn't give them an address, just an invite to attend my BBQ (Pretty careless of me, hey!!).
By the way, our friend will be "front page" on Monday. On another topic, but will check it out anyway!
RE: Tight Hole Status "....could be abused by some companies."
Data confidentiality is enabled by provincial legislation (The Oil & Gas Conservation Act). Periods of confidentiality vary from 30 days (development wells) to 1 year (exploration wells). In addition, the Apache et al farmin agreement will likely include industry standard clauses relating to the confidentiality of information. Those clauses enable the tight hole status simply because they state that, except for very specific reasons, there can be no release of well info without the consent of ALL parties. In this case, Apache has invoked these clauses and precluded the sisters from making any press release.
The potential does exist for abuse as you have contrived but for a couple of reasons, I very much doubt that such abuse would be very widespread. The more prevalent scenario is where one partner uses the tight hole status to make it difficult for a smaller partner to "keep up" in a play.
RE: "Is it reasonable to assume that the gas pay area they have encountered in the center of this anomaly extends over this entire (10,000 acre) area?If it does will it not be wise to drill a second well on the edges of the anomaly?"
Personally, I would NOT assume the pay to cover all 10,000 acres (But I recognize that it could). I'd think they've proven up only a single section, have say 3 sections of probable additional reserves and potentially a lot more. At the reserve levels we are dealing with, that's a swack of gas but several more wells will be required to evaluate the potential of the 10,000 acres. The farmout agreement will influence, in large part, where the next well(s) are drilled.
RE: "...What is the advantage of a second well being drilled prior to land sales?Would it be more prudent to continue to obtain the maximum amount of land without tipping your hand by showing everyone the start of a second well?"
If a well were drilled and TD'd just prior to a sale and the results were disappointing, then offset land acquisition bids may drop dramatically. On the other hand, if the well was successful, then they may be able to justify bidding high enough to ensure acquisition. Which strategy is best?? Who knows?
Later,
grayhairs |
