2017 Annual Meeting

(584t) Update: Gas Production from the SCOOP

Author

Long, R. L. Jr. - Presenter, New Mexico State University
In 2013, I presented the results at the AIChE Annual National Meeting from the formation of my very small oil company ( an LLC ). Now, I can update my oil( or,rather, my gas production company) company results. We have a total of a portion of 1 well and an increase in value of mineral rights in the area. The area is in the SCOOP. It is a risk taking operation. In 2013, I explained how I made the decision to form the company and showed how I made the decision to participate in the well. You should keep in mind that the oil and gas business is very capital intensive, and risk taking The laws are different in each state and so you must learn the laws in your state. In recent years the shale gas business is developing. Unfortunately, the oil price is declining recently and just three years ago oil prices were more than double what they are today.