One More Oil Well!
Feb 12, 2021 13:48:14 #
Since Jean and I had both been retired for several years, at first we had decided to remain here in Houston. We were comfortable with our townhouse and the community. Also, our circle of friends and our church were a strong comfort and benefitted us in every manner that we could think of or want.
But for some reason, after visiting the oil field community where I grew up at Bulcher, it had an irresistible drawing power and we finally decided that we would buy the land where our old homeplace had been located, build a modest home there and that would be our final retirement home.
I had been up there the previous fall and contacted the land owner about the partial of land I would like to purchase, and we had settled on a price. I intended on this trip to complete the deal and pay for the land. We would then begin working with an architect to complete the plans for a modest retirement residence.
While Jean and I had both moved around quite a bit, and I had some experience with constructing residences this would not be possibly two bedrooms, living room, and a kitchen. After all, the home I grew up on had even less space.
When I arrive at the proposed location in Bulcher, I am surprised at the activity. There are several pickups parked on the exact land I had intended to buy. Upon walking up, noticing the surveying equipment and such, I asked what was going on. To my surprise, they told me it was being surveyed for a well to be drilled there!
When I was a kid, there had been two or three wells within a few yards of our residence, but at that time, all the area was dedicated primarily for oil production, and what remained was farm land and the oilfield workers homes were scattered, sort of “willy-nilly” in between. But over the many years since, the field had been pumped dry. There had been stages of recovery, from gas repressuring stage, then water flooding but I had thought it was all over.
Now, one of the engineers explained that with the invention by George Mitchell and Mitchell Energy in being able to penetrate and drill through the shale and it opened a whole new chapter in revitalizing old fields. So the exact spot where I had intended to build a retirement home was now going to be drilled for a producing well.
Upon inquiry of just who was now the owner and producer of the mineral rights, the men at the site did not appear to know. I was just about to call the land owner and cancel my intention to purchase the property and request my down payment be returned, when another pickup drove up and I recognized the occupants were two of my uncles, my mother’s brothers. They got out and after shaking hands and greetings, they explained this was the best possible location for a well and should be a big producer, for which all our family would benefit. What could I say? In Texas, one does not argue about a bigger royalty check, Jean and I would just find another homesite.
(A recent dream!) Just Sayin….RJS
But for some reason, after visiting the oil field community where I grew up at Bulcher, it had an irresistible drawing power and we finally decided that we would buy the land where our old homeplace had been located, build a modest home there and that would be our final retirement home.
I had been up there the previous fall and contacted the land owner about the partial of land I would like to purchase, and we had settled on a price. I intended on this trip to complete the deal and pay for the land. We would then begin working with an architect to complete the plans for a modest retirement residence.
While Jean and I had both moved around quite a bit, and I had some experience with constructing residences this would not be possibly two bedrooms, living room, and a kitchen. After all, the home I grew up on had even less space.
When I arrive at the proposed location in Bulcher, I am surprised at the activity. There are several pickups parked on the exact land I had intended to buy. Upon walking up, noticing the surveying equipment and such, I asked what was going on. To my surprise, they told me it was being surveyed for a well to be drilled there!
When I was a kid, there had been two or three wells within a few yards of our residence, but at that time, all the area was dedicated primarily for oil production, and what remained was farm land and the oilfield workers homes were scattered, sort of “willy-nilly” in between. But over the many years since, the field had been pumped dry. There had been stages of recovery, from gas repressuring stage, then water flooding but I had thought it was all over.
Now, one of the engineers explained that with the invention by George Mitchell and Mitchell Energy in being able to penetrate and drill through the shale and it opened a whole new chapter in revitalizing old fields. So the exact spot where I had intended to build a retirement home was now going to be drilled for a producing well.
Upon inquiry of just who was now the owner and producer of the mineral rights, the men at the site did not appear to know. I was just about to call the land owner and cancel my intention to purchase the property and request my down payment be returned, when another pickup drove up and I recognized the occupants were two of my uncles, my mother’s brothers. They got out and after shaking hands and greetings, they explained this was the best possible location for a well and should be a big producer, for which all our family would benefit. What could I say? In Texas, one does not argue about a bigger royalty check, Jean and I would just find another homesite.
(A recent dream!) Just Sayin….RJS
Feb 12, 2021 14:57:22 #
GSMJr
Loc: SoCal> Pflugerville (Austin), TX
I bet that you dream in IMAX and 48-channel sound too!
Garry
Garry
Feb 12, 2021 15:47:19 #
Robert J Samples wrote:
Since Jean and I had both been retired for several... (show quote)
That's too bad it was a dream, RJS
Feb 12, 2021 16:09:49 #
No, not a problem, Fly Guy: If it were real, I would probably just blow it. I have enough rods, reels, and lures to last. Just Sayin...RJS
Feb 13, 2021 23:34:49 #
Mauwehu
Loc: Norwalk Ct
Robert J Samples wrote:
Since Jean and I had both been retired for several... (show quote)
Would that be an 80 something’s sex dream?
Feb 14, 2021 12:35:42 #
Mauwehu wrote:
Would that be an 80 something’s sex dream?
Definitely a wet dream when it starts producing. 😀
Feb 14, 2021 13:07:33 #
Well, hardly. You have to remember that if my Grandfather owned a lease, it would have been divided by 10 childlren, so 1/8th override, divided by 10 equals 1/80 of the income, Then I had a sister, so her estate would get 1/2 of the 1/80th share. It would have to have been one hellova well to mean much to me. Just Sayin...RJS
Feb 17, 2021 04:00:13 #
FixorFish
Loc: SW Oregon
Yeah, everybody thinks that if you own land that is producing oil, you must be rolling in the bucks.
The reality is that my portion of the revenue is .00715 of the total pumped each month !
Before Covid, I rationalized that Hey, it pretty much keeps my tanks full on my vehicles and boats with enough left over to go out for a nice dinner !
Been basically banking that check for nearly a year now..... might soon be able to buy one or two of Ben Bragg's combos...... maybe..!
The reality is that my portion of the revenue is .00715 of the total pumped each month !
Before Covid, I rationalized that Hey, it pretty much keeps my tanks full on my vehicles and boats with enough left over to go out for a nice dinner !
Been basically banking that check for nearly a year now..... might soon be able to buy one or two of Ben Bragg's combos...... maybe..!
If you want to reply, then register here. Registration is free and your account is created instantly, so you can post right away.