Rigs on the Skyline and Gas Far Below (Ft Worth, TX)

NY Times ^ | October 27, 2006 | Clifford Krauss

[Ready4Freddy]

[ladtx]

I have an uncle who is running about 8-10 rigs around Fort Worth. He's in his late seventies and refused to retire. He says this is the biggest boom he's seen in his 50 years in the business. He is quite excited about the "Barnett-Shale play" that's going on and says he can't wait to get to work every day.

[Yo-Yo]

Sounds like he's a rich Uncle now! ;^)

[Ready4Freddy]

I've noticed a few articles about drilling in Plano, Coppell, Flower Mound, and Grapevine. Right next to, or in, subdivisions. I'm guessing that this is the same field.

The Austin Chalk play a number of years ago gathered as much hype, possibly, but probably not as much hydrocarbons.

[TXnMA]

I remember when the sky in Kilgore, Texas was almost obscured by a "forest" of oil derricks right in the middle of the town...

[DainBramage]

With restricitons down to and below every 50 acres alot of people without mineral rights are losing the beauty of their surface rights to the oil companies. When the water trucks start tearing up the roads cities are going to rethink the decision. JMO

[Thermalseeker]

I noticed a lot of new drill rigs last spring when I went through Colorado, too. I know Union 76 drilled a slew of test wells here on the Cumberland Plateau back in the '70's, found gas, and capped them off. It's about time for them to start tapping the field here. Thermal needs his royalty check......

[ladtx]

He has been around a long time and has seen a lot of booms and busts and has always done real well for himself. I'm not sure he even finished high school. The Fort Worth Star telegram did a story on him and the Barnett Shale play a couple of years ago. There is a pdf of the story here.

[tangerine]

I live in Fort Worth. They are buying 3-year driling rights in my neighborhood to put in a well 4 blocks from my house.

[Jedidah]

Doesn't reach as far east as Plano. The Barnett Shale in the Fort Worth basin is limited by geological formations on its edges. Original "sweet spot" back in the late 90s was in Denton/Wise counties.

This is still mostly a Tarrant, Johnson, Wise, Denton county play, although drillers are testing the periphery. Fort Worth sits solidly atop it, but Dallas can only drool. DFW airport between the cities has made a killing.

[ladtx]

The link at #8 gives a pretty good history and outlook for the play around Fort Worth.

[Yo-Yo]

Shine sounds like a very interesting fellow. Thanks for the article!

[ladtx]

It is a good article, even if they did keep misspelling his name.

They call him Shine because when he takes that hardhat off the reflection will nearly blind you. ;O)

[WestCoastGal]

I wonder if the France family and Bruton Smith are in on this?

[steveegg]

I wonder if the France family and Bruton Smith are in on this?

Dunno, but I wish we were. Now only would we end FReepathons, but we'd be well on our way to creating our own racing league.

[bert]

which means.....oil is a renewable resource.

[WestCoastGal]

It's that old adage the rich get richer......

We should have a FR speculation land purchase committee. A geologist consultant would be helpful. :)

[Last Laugh]

When the water trucks start tearing up the roads cities are going to rethink the decision. JMO

The property owner is paid for access to those minerals through a land lease. The oil companies provide a contract stating that any damage done will be repaired. The property owner has plenty of rights.

I know this as fact, as I own, and lease out 337+ acres in Wise County.

[rahbert]

As one who does not own the mineral rights I'm
not eager to test the surface repair clause.

My neighbors who have operations on their properties
tell horror stories about brine infusion wells poisoning
their stock ponds and placement of spite wells in front
of their house if they complain.

[Last Laugh]

My neighbors who have operations on their properties tell horror stories about brine infusion wells poisoning their stock ponds and placement of spite wells in front of their house if they complain.

They have legal recourse, unless they signed a contract saying otherwise. It sounds like an independent company or a subcontractor of some sort. Your neighbors need to retain a lawyer and not be intimidated by these types.

This is on the assumption that they own the property these wells are on. They may be able to use the environmental angle.

Surely, this is not in Texas?