Just for your information, here are the results of Superiors wells on a 24hr test and the IP rate:
1) 12-18N-3W 1MH 779 Boe / 627 bbl of oil Estimated Sales to date (conservative estimated) $5,825,355 1st year of production.
2) 13-18N-3W 1MH 753 Boe / 548 bbl of oil Estimated Sales to date (conservative estimated) $4,749,484 1st year of production.
3) 14-18N-3W 1MH 706 Boe / 306 bbl of oil Estimated Sales to date (conservate estimated) $4,158,260 1st year of production
4) 23-18N-3W 1MH 489 Boe / 456 bbl of oil Estimated Sales to date
(conservative estimaded, came online in late January of 2014) $2,631,056
I do not have data on Section 24 as of now, but could get it. I'm not invested in that well, so it was of no interest to me.
Here is a great presentation from MidStates Petroleum about the Mississippi Lime and the play in general. It comes complete with decline curves, etc.
file:///C:/Users/Owner/Downloads/Wells%20Fargo%20Presentation%2012-10-14%20(2).pdf
The complaints that I have is that Devon's well cost's are about 25 to 30% higher than anyone else. Devon also seems to be a bit unorganized at times and that has caused us all delays in getting checks. It finally seems as if we are getting to the bottom of things with them.
I feel bad for JRT because he had the luck of investing in Section 23. That section is the lowest performer to date. I get his frustration, but I will say he will be fine over the long haul. What effects production is formation pressure, natural fracturing, permeability and porosity of the formation. The total EUR will be recovered, just not as quickly. Just think of it like a bottle of soda that is shook up and one that is not.
