Replies to This Discussion

Permalink Reply by BirdDawg, plain ole' idiot on July 23, 2011 at 15:48

John Brewster,

Have you seen the assignments?

Permalink Reply by John Brewster on July 24, 2011 at 10:49

I have been in the oil and gas business 35 years.  I am an oil and gas attorney.  I personally know several senior executives at EOG.  I also leased my father's minerals to Pinebelt.  EOG is an E&P company.  Pinebelt is a landman/lease broker.  EOG is experienced enough to drill the Brown dense.  They are also large enough to put together a 250,000 acre lease play, as this is rumored to be.  (So are SWN and others)  It would be unusual for EOG to take a partner in a play like this, unless it were a foreign partner done for financial/strategic reasons.  I can think of no reason why EOG would assign leases to a broker.  i am not certain that the lessee is EOG, but if Polly Ann saw an assignment, I would feel strongly that EOG would not be the assignor but the assignee.

Permalink Reply by Two Dogs, Pirate on July 24, 2011 at 13:05

Copied and pasted from landmen.net

A man retires after 50 years as a Landman. After hanging around the house he gets bored and goes down to the neighborhood bar. He's having a couple of beers and starts a conversation with the bartender when the bartender asks him what he does for a living. The guy says he just retired after 50 years as Oil & Gas Landman. The bartender says "wow! 50 years huh? You must know all there is to know about being a Landman". The guy chuckles and says "No. I don't figure i know half of it." The bartender is amazed! He says "you mean you worked in the Land business for 50 years and you don't know all there is to know about it?" Guy says " No, not by a long shot." Bartender says "well just how long do you have to work in the Land Business to know all there is to know about it?" The man thought a second and says "usually about 6 months!"

Permalink Reply by BirdDawg, plain ole' idiot on July 24, 2011 at 14:55

John, I agree with what you say. But an opertator could assign leases to a broker. And as any idiot knows (as myself), a broker is not going to drill a well. But they could then assign the leases to another operator. I have no idea if this is the case here, but it could happen. I think any person informed in the O & G business knows that EOG is an E&P company and can drill horizontal, or any other kind of wells. The question here is who assigned who what.And you may very well be correct.

Permalink Reply by The_Baron on July 25, 2011 at 9:38

I can think of why EOG would assign their leases.

 

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

 

EOG has plenty of other projects to keep them busy, or maybe they just didn't like what they saw in Lafayette...  

Permalink Reply by Arkansas Traveler on July 24, 2011 at 10:59

EOG Resources assigned to Pinebelt Energy Resources Corporation with an Effective date of August 25, 2010, said assignment was filed in Lafayette County, Arkansas on March 4, 2011 at 12:27 P. M. in Record Disc 20011 at Page OG-296.  They appear to assign all of their leases in this assignment. about 655 leases.

 

Pinebelt Energy Resources Corporation then assigned the leases to Triad Land Services, LLC, in an Assignment dated June 15, 2011 and filed for record in Lafayette County, Arkansas on July 12, 2011 at 2:00 P. M., in Record Disc 20011 at OG-1982.

 

Southwest is the man behind the Triad mask.

Permalink Reply by John Brewster on July 24, 2011 at 11:08

This makes sense.  EOG, like Murphy Oil has done, will pick up some leases in someone else's play (in this case SWN), and "flip" them to the main player (SWN) for a premium/profit or a small piece of the action.  If Arkansas Traveler knows that Triad does SWN's land work, this is the best evidence yet that SWN is the mystery lessee.

Permalink Reply by The_Baron on July 25, 2011 at 9:39

Thank you Traveler, I have suspected Triad and Pinebelt were employed by the same company... Maybe they were. I still put my money on Southwestern.

Permalink Reply by Polly Ann Foote on July 21, 2011 at 16:34

There were quite a few leases listed. I have no idea whether it was all they had leased. 

Permalink Reply by The_Baron on July 26, 2011 at 3:56

Polly, was it a full assignment, or was it restricted to certain depths?

 

I ask because I wonder if Pinebelt aqquired all the rights, or just the deep "brown dense" rights.

Permalink Reply by Polly Ann Foote on July 27, 2011 at 8:59

Baron: I don't recall seeing that they limited it to certain depths. One of the leases listed was one I had leased to Border and in that lease we requested that we be notified should the lease be assigned. Since the assignment is now public information, I can say that Border notified me that they had assigned to EOG and that EOG had assigned to Pinebelt and there was nothing in their notification that it was an assignment of just certain depths.

 

Permalink Reply by The_Baron on July 28, 2011 at 4:56

Thank you Polly. I am not trying tobe too nosy, and apprieciate your frankness.

 

 

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