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I don't believe that link is working,  also tried copying, that didn't work either.

so, the main thing that pertains to Austin chalk in la. was four tracts of land in east and west Feliciana parishes.  they were leased by petroland-61 acres at $529 per acre with a .255 oil and gas royalty,

new holdings llc, 7 acres, $1,011 per acre with a .265 oil and gas royalty,

ConocoPhillips, 61 acres, $516 per acre, with a .250 gas and oil royalty, and last

Conoco phillips 112 acres, $516 per acre, with a .250 oil and gas royalty.  

Thanks for posting, David.  Please allow me to provide a little clarification. 

There were two tracts associated with the AC up for bid.  Tract 44881 covering 61 acres in multiple sections of E and W Feliciana received bids by three parties.  The New Holdings bid was for only 7 of the 61 acres so they were betting on being the only bidder.  Any bid for the whole 61 even at a lesser offer would have won.  The other two bids are interesting first in that the actual operator rarely bids for themselves, in this case ConocoPhillips.  What you usually see is a company that specializes in state mineral auction bids making a bid on behalf of a client.  The successful bidder will assign that state lease to the client at some point in the future.  The thing that really stands out is how Petroland beat COP by the narrowest of margins especially on the bonus offer, $529 to $516.  Almost like they had some inside information.  Their 25.5% royalty is also a little unusual because the state always goes for the bonus money over the royalty which I find wrong headed and anything over 25% is rare.

ConocoPhillips was the sole bidder for Tract 44882 covering 112 acres and received the lease at the same bonus and royalty as they bid for 44881.

Since these bid tracts cover many sections in their 61 acres it is highly likely that these are parish road rights-of-way.  State leases are often a good indicator of near term intent to drill.  Operating companies usually aggregate all or a large percentage of their private land leases first and then get their state leases.  A state lease is only effective for one year at the bid paid.  If a leaseholder wishes to keep the lease beyond a year without drilling it they have to pay an additional bonus.  For that reason, state leases are often the last acquired before the bit hits the dirt.  That would jive with the public statements made by COP that they will drill their first wells later this year.

Barber Shop talk this morning in New Roads, La.    Redhawk leasing in Pointe Coupee,  AC interest....

Hear any barber shop talk about inside the levees of the Morganza Spillway?

No CW ,  it was all about the island side of false river.  They said redhawk was leasing all they could , everyone they knew on the island side was working on leases.. 

Are you still waiting on a lease?

Have a lease sitting on my desk but have not signed. It seem different this time and I am thinking I can get better terms. It is always a gamble I have had it go both ways on me. Although I have negotiated more leases than a lot of mineral owners I’m still not that good at it.

I did take the 2nd offer and got a 3rd and I was like oh my. The 1st offer for less was an EOG Landman and they withdrew so I felt like I better get what I can. 

I have had about equal number withdraw as I have had “oh my” moments. 

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