As of December 31, 2014, Southwestern held approximately 304,371 net acres in the area at an average cost of $831 per acre. Southwestern’s leases have an approximate 81% average net revenue interest and an average primary lease term of approximately three years, which may be extended for approximately three to four additional years. As of December 31, 2014, Southwestern had drilled 14 operated wells in the area, six of which were currently producing. Late in 2014, Southwestern acquired 75 miles of 3-D seismic data and is currently in the process of analyzing that data and the results to date.
Last Updated on 06/04/2015
The genie is out of the bottle regarding two section units. The question for landowners now is whether they will stand for these units holding leases with vertical wells. When an operator has a unit application approved with the language in Section 4 of the application they should not be allowed to HBP the mineral unitized mineral interests with a vertical well.
That's Grenadier in Webster Parish. For some reason it is being discussed in the Claiborne Parish Group. Go figure.
Grenadier is indeed leasing in Claiborne as well as Webster, so what's wrong with discussing this in the Claiborne Parish Group?
The well and the unit are in Webster. If the discussion is about leasing in Claiborne then Claiborne is an appropriate group. If the discussion covers the well and unit it should be in the Webster Group although it could be included in Claiborne as well to cover all the bases. I know where every lease that Grenadier holds and is evidenced in the public record is located in N LA. The majority of acres are in Webster. Much less in Claiborne and even less in Union.
I received a 3-year extension last year on the original lease where the Roberson well was drilled. Not sure why, since apparently it was a bust.