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AboutAs exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More |
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Comment Wall (10 comments)
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Grogan Field. Samson Contour has unitized sections 3 & 10.
Those are the only units to date A unit application allows an operator to drill the maximum number of wells allowed by spacing regulations. In the case of HS wells, 80 acres. 8 wells per section. A unit application also indicates that the applicant (XTO) has a minimum of 75% of the section leased. A unit application is generally an indicator of an operators future intent to develop. As infrastructure must be built to connect ng wells to market (pipelines), operators don't invest in that infrastructure for one well. A unit application is usually followed by in-fill leasing in order to gain the maximum acreage under lease prior to production.
But, he said a lady from Lafayette and man was at the signing. NOt sure of names, but will get them and get back to you. Was around $10,000/acre (because of previous agreement back in November), My father is elderly (I have POA but could not make the signing) and said that XTO would be sending them additional funds because the original negotiated amount was $14,000/acre...???Not sure if I understand that or not. My father was just elated with this sum. Will get with my dad and look at paperwork, hopefully, this weekend. Then I will know more.
Received the magazine on Wednesday. Thanks! Loved the article you
wrote. Do you still like to run?
Pam