we have a very old lease with 13 wells listed that are virtually paying nothing. Some wells actually lose money. What could be done on a new lease? How does one find out whats going on BP never responds and have a high turnover of contacts. We are right in the heart of a good sesimic result for the haynesville shale but have no haynesville shale production. Will the old lease cover all the new interest? How do we find out what we actually have? Merely just get a little old check every month from BP. This is the Brewster Property.
Thanks,
Spencer Owens
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What adubu said. More'n likely, if it's an old lease, it's HBP. I have a number of ancient wells, and the original leases never had depth clauses... a relatively recent addition to leases.
"IF" there were only one well in the unit, you might've had a claim to 'economic production'.... a few units have changed hands, because there was only well drilled on a unit, and royalty owners 'lawyered' up and forced the company to drill another well... But, since you say there are 13 wells on it, that route would probably be a dry hole.
I see little interest in developing shale wells on these HBP units... with the cost of gas so low, it's not going to happen. Have three units that had planned shale wells, back before the price collapsed... now there's no interest by the company that owns the Units.
In researching the decades-old Tuscaloosa Trend and the immense wealth it has generated for many, I find it deeply troubling that this resource-rich formation runs directly beneath one of the poorest communities in North Baton Rouge—near Southern University, Louisiana—yet neither the university ( that I am aware of) nor local residents appear to have received any compensation for the minerals extracted from their land.
This area has suffered immense environmental degradation…
ContinuePosted by Char on May 29, 2025 at 14:42 — 4 Comments
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