Replies to This Discussion

Permalink Reply by bigball N1/N2 on December 12, 2008 at 8:51

great stuff les B, thanks

Permalink Reply by jr on December 17, 2008 at 14:52

Anadarko has applied for nine units south of the messenger well near Allen. Letter dated Dec. 12.

Permalink Reply by Steve on December 18, 2008 at 4:44

How did Anadarko get their acreage in Natchitoches? I don't remember them leasing at all. Would you mind scanning in a copy of the Anadarko Application for units?

Permalink Reply by Grillin' - MmmMmm on December 18, 2008 at 5:35

I believe Anadarko has had leases in this area for a long time. Top of the head recollection, subject to the tendencies of short term memory loss!! They have been a player in the ArkLaTex area for some time and they also acquired lots of Kerr McGee acreage. So you may not see their name popping up in the leasing activity as they will have some HBP acreage floating around. A 20MMCF/day well on an old 1960's lease with a 1/8 or 1/6 royalty is a honking money maker! Even at $5/mmBtu!

Permalink Reply by Two Dogs, Pirate on December 19, 2008 at 12:41

I heard that they have already paid for the 2 year extension option that is due in March.

Permalink Reply by Grillin' - MmmMmm on December 18, 2008 at 5:38

Or, they could have farmed in to someone else's leases. Standard operating procedure in the patch. I have a lease but no money. You have money but no lease. I let you pay for the full cost of the well and then give you 1/2 of my interest. Most farm-in's invovle "leverage" or "juice" such as you pay 100% to earn 50% WI or something but in today's tight credit/capital markets, you'll probably see less leverage (you pay 50% and earn 50% and I get to keep my lease as it expires soon and I don't have the money to drill it!!).

Permalink Reply by john on December 30, 2008 at 4:43

Anadarkao paid around $150-$200 per acre quite some time ago. Some of their leases come due soon with no extensions. They are drilling two wells at Allen and two in the Powhattan area, one north of Powhattan. My guess is that they will drill what they can because of the success of the Messenger Well.

Permalink Reply by Les Bamburg on December 30, 2008 at 4:55

John, I assume you mean they plan to drill 4 wells since Anadarko has no permitted wells.

Permalink Reply by john on December 31, 2008 at 8:29

Yes, planned, not yet permitted. The notices from the lawyer arrived in our mailboxes about 3 weeks ago. There is a hearing scheduled first of January.

Permalink Reply by Father of the Year on December 31, 2008 at 11:44

John, for the planned well north of Powhattan, how far north? For the other well in the Powhattan area, how far and in what direction?

Thanks,

FOTL

Permalink Reply by Les Bamburg on December 30, 2008 at 4:57

Jr, can you provide more details (S-T-R) for the location of the nine units?

Permalink Reply by Two Dogs, Pirate on December 30, 2008 at 5:30

Les from what I understand they will be around Sections 25, 26 & 27-T10N-R9W around the Allen exit of I-49.

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