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Permalink Reply by jffree1 on August 25, 2012 at 6:48

JBL Energy sells, drills in the Woodbine

Posted on August 23, 2012 at 1:17 pm by Jeannie Kever in General

Tomball-based JBL Energy Partners announced Thursday that it has begun horizontal drilling in a joint venture with Terrace Energy in the Woodbine play north of Houston.

JBL, a privately-held oil and gas exploration and production company, announced at the same time that it had completed the sale of 17,000 acres within the Woodbine to Halcon Resources Corp.

JBL CEO Jason Lane declined to disclose financial terms of the sale but said the company will use the money to finance the venture with Terrace, which is based in Fort Worth, as well as additional drilling in the Woodbine.

http://fuelfix.com/blog/2012/08/23/jbl-energy-sells-drills-in-the-w...

Permalink Reply by Dry Hole on August 25, 2012 at 15:43

   Jason B Lane leased a good bit of acreage near Houston Co. Lake and also in Western Leon Co.

   Believe his Terrace/Trivium venture is in Leon so by default we could guess the Halcon acreage is in Houston Co. north of Hwy 7 on the western side ?

Permalink Reply by Alvin T. Kmiec on August 25, 2012 at 16:53

Jason Lane is who we talked to when they leased our place in Eastern Leon Co on the Trinity River. They still have another 2 years on the lease.

Permalink Reply by Dry Hole on August 25, 2012 at 17:54

Thanks,Alvin

 I did make a mistake Eastern Leon and Western Houston Co. would be correct

Permalink Reply by jffree1 on August 31, 2012 at 11:00

Sun updates progress on Beeler #1H:

"Operator Richland Resources Corporation is now preparing to drill the horizontal section of the well into the primary target Woodbine A zone that is equivalent to the zone producing oil in Halcón Resources Corporation’s Gresham A-1H horizontal well immediately to the south east of the lease.

“We are highly encouraged by the results of the wireline logging, which confirm Sun’s belief that its Richfield Oil Project has the potential to flow oil from multiple zones,” Sun managing director Matthew Battrick said."  

http://www.proactiveinvestors.com.au/companies/news/32982/sun-resou...

Permalink Reply by Joseph Cartwright on September 7, 2012 at 15:05

Heard about some landmen handing out leases for Halcon in Polk County---$300 per acre and 1/5 cost free. Also had a clause that if royalty not paid within 90 days interest would be paid. Pretty good first read terms.

Permalink Reply by Dry Hole on September 7, 2012 at 15:40

What part of Polk Co. Joseph ?  

Permalink Reply by Joseph Cartwright on September 7, 2012 at 16:25

Not sure--I"ll check further next week when I'm back down there. I know that quite a bit of acreasge is involved. They had good heir information before they ever hit the courthouse--seemed to be trying to hurry things along.

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