Replies to This Discussion

Permalink Reply by Phillip Briggs on March 26, 2011 at 7:26

Most of Panola County is held by production... for the last 60 years.  There are an amazing number of ancient leases with 1/8th royalty, and no pugh clauses.  Vertical pugh clauses are very rare, except in recent (last ten years?) leases.

 

I've heard rumors of a large oil find... but the area where it's located has had continuous production since the 40's/50's. 

 

What do you 'know'?  Hey, a rumor is better than a sharp stick in the eye! 

 

My 'rumor':

 

I have some relatives who work on the production side of the gas industry, and they've told me there's a large oil play, discovered on some Haynesville/Bossier deep drills.  [In Panola County, off of Hwy. 124] For decades, no one thought there'd be 'anything' below the Cotton Valley... and a couple thousand feet deeper is a 'giant' oil field.  Cousins say their sources say it is a giant.

 

The logic, imho, is rotten.... if there was a massive oil field, why hide it?  The area is completely leased out.  No other company can snipe unleased tracts.  Either Devon, EOG, etc., already own the producing units, and they're HBP.  With the price of oil soaring, why not tap 'that' field and go ahead and do the Haynesville/Bossier, and only produce the oil. 

Permalink Reply by adubu on March 27, 2011 at 6:07

rumor I hear somewhat matches yours so may be just that--A Rumor, but formation deeper than the shale. Any your relative been around the court house and seen any activity in record room out of the usual

Permalink Reply by Krkyoldhag on June 21, 2011 at 10:30

The old Placid leases say leases expire at various times if no production.  Some of the leases seem to have production on 1/4 of the acres in the units...If a well is only producing on 1/4 of the acres wouldn't that mean the leases expired ? 

 

And none of the leases cover deep wells..so again does that mean there no lease in effect on those old 1950's Placid leases?  When Placid went under the leases were divided up to several producers..

Permalink Reply by Gale on March 27, 2011 at 7:22

Our mineral interest are in the area you refer to, off of why 124 between Beckville and FairPlay, and I can tell you a number of years ago Texaco( now Chevron-Texaco) and Bp drilled deep sand wells on one of our mineral interest at the time they drilled or shorter thereafter my relatives that lived on adjacent land told us they were told that Texaco had intent to drill numerous oil wells in this area, they were at that time drilling 3 test wells to see how they did and those wells were drilled, I know for certain because one was just outside a relatives back door. About that time was when the price of oil dropped and I've never heard another word about drilling more oil wells. Now all of my relatives that lived out there have deceased or they are so ill they no longer keep up with what's going on. I have mineral interest all around this are from Carthage to Beckville, I'm interested in any activity going on whether it involves my interest or not.

Permalink Reply by Bsmit on April 12, 2011 at 15:50

I wouldn't put too much faith in economical oil deposits in Panola county.  At 100 plus dollars a  there w0uld be intentist  activites in the Panola county at this time.  No intencs drill activiyis

Permalink Reply by griiker on May 19, 2011 at 6:12

Get the media involved, or something.

Permalink Reply by griiker on May 19, 2011 at 6:17

I have heard some of these wells in the smack over have been making 75-200 bbl/day.  Oil companies have been keeping it quite, of course.  We need to get the word out (IMHO)

Permalink Reply by adubu on May 19, 2011 at 7:29

griiker---- if you know well names can confirm any and what production on rrc.tx site

Permalink Reply by griiker on May 19, 2011 at 8:36

I am not sure yet, but I will post when I find out anything.  I think the rumors are strong enough  where the media should at least issue a blurb that there are rumors.

Permalink Reply by Krkyoldhag on June 24, 2011 at 8:20

I don't know what the oil people or researchers were looking for yesterday  (6/23/11) in Carthage records at courthouse but the room was full and the researchers were busy busy.  It was crowded in the room and every space was taken..I would put back a volume and someone would be there waiting to see it.

Permalink Reply by adubu on June 24, 2011 at 11:18

Cora Lee--- since you were present yesterday surely you must have hear some talk--what???? Sure like to know

Permalink Reply by Phillip Briggs on July 15, 2011 at 5:32

I'm there several days a week, and I never ever hear anyone mentioning what they're working on.... talk about sports, family, that wacky ol uncle Obama, but not what 'play' they're working on.... I believe it's an unwritten landman rule... you don't talk about your particulars... unless you know the other landman "real" good.

I see some of the same folks working there all the time.  I know one crew that spent almost a year, working out current ownership of units that had been in production since the 50's.

Panola County, for the most part, is leased out and producing, and HBP.  There are isolated tracts un-leased.  My family owns enough un-leased acreage to make a unit.... within a half mile of a massive XTO drilling program... and I can't get anyone interested in leasing.  Contacted a landman I know last week (there company has hundreds of wells in Panola County)... offered to just give them the lease, if they'd consider drilling.  Nope, not interested, regardless of where it's located.

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