Thanks,Dbob
Wonder what the reason to sell is ?
Aren't their holdings predominantly around the Houston County area? It seems that Navidad was having some pretty good luck there...
Yes Fiddler,
Holdings were Ferguson (Madison Co.)and Eastham Prisons and Weldon area in Southern Houston Co.
I have heard that out of 100,000 acres, that only about 10% is GOOD ------------ I have also heard that they do not have the $ to continue to operate on this scale ? Believe that Jessco play was part of Navidad acreage ?
I would guess that either encap wanted out or they received an offer they could not refuse and wish to make sure its the best available.
Just speculating..
I heard today that Halcon made them an offer
Thanks for the info, Dry Hole...Navidad has done very well in the Southwest Houston County area...the Eastham/Weldon sites in particular have been paying off for them quite well and the royalty holders, I understand, have been particularly happy with the checks that they have been receiving. I reckon out of the total acreage that they leased, the Weldon/Eastham/Ferguson areas were the 10% that paid off the best. I have not heard much talk from the local folks about any "re-leasing" activity going on...since, I figure the prior lease terms are nearing expiration. Maybe there is some of this happening, but the involved persons are just playing their cards close to the vest. There has been some talk, however, of independent landmen sniffing around the Kittrell area of Walker County and making some lease offers...so, maybe as they say at the opera "The fat lady ain't finished singin'"... Time will tell...
Finance.yahoo.com/news/halcon-resources-announces-fourth-quarter-123000561.html
Interesting info.
Looks like they will be spending more on Woodbine than on Bakken or TMS. Also plan to test Woodbine in Polk County. Drilling plan suggests they would have to sell more shares to buy Navidad. But Navidad pruchase would immediately add to their production base.
Great info available at the Macquairie Tristone site. They are marketing the Navidad Burk Royalty Property for sale. Bids are due next month. Everything you want to know about Navidad Burk properties. Cannot upload the file though. Google Navidad Burk property for sale. That will get you there.
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