Tom..also posted this info in N. Caddo group. Don't know much about Tensas, but family owns land and is completing a well in this section. (Petit formation). Well is a step-out from an overlooked and existing producer. Tensas has applied to unitize the section, with plans for 5 wells to the Petit. Received the notice about 3-4 weeks ago. We believe they moved on this based on our activity...many phone calls to us about the section and our well.
Tom, Joe here, like I told Elecro I agree with you 100%. It makes no sense what they are doing. I did the math! The only logical reason I can come up with is their testing out pipeilne,equipment,etc. The well is turned down to 5000lbs just like the E&l Devolpment. I read that meter 3 times to make sure of things. About the oil. beats me. I will call tommorrow and see what I can find out. every thing he has told me so far has been true. We'll see, Welome comments, Joe
Tom,Joe here. They don't have all the info on the Hall # 5 yet,should be any day now to get more info. When they go lateral alot can change for the better or worse. We'll just have to wait and see. Right down the road next to my Sec.10 ( missed me about 500ft.! ), the E & L Devolpment #1 which they drilled Back in August-Sept. is sitting on 5500lbs. vertl. Ihave a feeling they might lateral that one next. Equipment already their, treaters,etc. I work on the O.R. at WKPt. work late hours. will let you know whats next when I can, Joe.
I've always been told that there was good Shale pay to 19N, so this is not that surprising, but it is nice to see. We are at least 3 miles north in the northern portion of 23N. Again, we shall see what these Clements wells do when they get online (waiting on pipe).
We do have some interest from a shady, highly unprofessional "landman" named Gary Bajon (with Mustang Exploration?). Never had such bad first impression of a landman in my life (and I used to be one). I think he has a big chip on his shoulder and tries real hard to pull that poor country boy thing which is a crock in his case. Because my foreign clients wouldn't sign his basic lease form (with no agreed upon bonus by the way) that day, without me saying anything derogatory, he hung up on me on our first conversation! That definitely proves that he is someone you never want to do a deal with. Avoid that guy like the plague.
I'm all for people waiting if they can, especially to the South. I think with budgets exhausted for the year, the declining price of nat. gas and the need to develop and produce some of these leases prior to expending more money, that the interest level has declined. I still think that from a strictly economical standpoint that in the areas where there is proven HA that you may see the holdouts get 25k to 50k in the end, but the companies will put that off until they get ready to drill. They don't feel the burning desire to pay exorbitant sums for acreage they may not be able to get to or that may not be as prolific as other acreage.
That's my 2 cents and it is probably not any better informed than anyone that hangs out on this board.
I'm a lawyer for Mission Plantation, the surface and 25% mineral owner. They have unleased 100% acreage half a mile to the North.
I hope the well(s) do great and I'm optimistic, but I'm just trying to address these rumors. I don't think Etoco is a front for anyone, and while the wells may be very successful, IMHO they won't be comparable to the HA wells.
As 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