Replies to This Discussion

Permalink Reply by obed w odom on December 29, 2014 at 5:34

I can answer the second part of your question. Weldon is on LA Alt 2, right on the Claiborne/Union Parish line, a little northwest of Bernice.

Permalink Reply by tom post on December 29, 2014 at 13:45

We got the check in the mail about 3 weeks ago and Obed was accurate in where Weldon is.  This land is right on the Union/Claiborne parish line but is in Union Parish

Permalink Reply by North LA on December 29, 2014 at 14:33

Congrats Tom.

Permalink Reply by don wilkes on December 29, 2014 at 14:00

In the company's Brown Dense exploration program, Southwestern is interpreting the 75 miles of 3-D seismic that was obtained in late 2014 and is planning to drill at least two wells in 2015.

Permalink Reply by North LA on December 29, 2014 at 14:32

Thanks for sharing. Where did you get that info?

Permalink Reply by don wilkes on December 29, 2014 at 17:20

https://finance.yahoo.com/news/southwestern-energy-announces-compan...

Near the end.

Permalink Reply by Debbie Everett on January 23, 2015 at 16:43

Our lease in the Spearsville area of Union Parish was renewed in November.

Permalink Reply by North LA on January 23, 2015 at 16:58

Thanks for the update.

Permalink Reply by ddozier on February 27, 2015 at 2:42

The investor presentation today  LSBD gets honorable mention at least.  Says the company has drilled 14 wells 6 of which are producing. The Benson is the best well to date currently flowing at 400 bbls and 1.7 mmcf/day. Company is evaluating the 3D data from the shoot and plans continue to evaluate the play.

And that was all. Its on page 14 of presentation.

Permalink Reply by Richard Roper on April 13, 2015 at 2:42

Does anyone have new information on lease options being exercised in Union County?

Permalink Reply by Ben Barnhill on February 22, 2016 at 12:36

I have an update for those interested in this thread. I should have updated awhile back, but am just getting around to it. Several months back I got a call from a SW Energy representative wanting to correct the legal description of property owned by my sister and I in Union Parish. I had a lengthy discussion with the rep and it seems they are planning on drilling in a drilling unit where I own 16 acres. I have an additional 110 acres contiguous with this drilling unit, so hopefully that would be part of a future unit. I told the rep I was surprised at their interest given the current state of the oil industry and the low price for oil. He told me that Exxon Mobil analysts believe that oil will be back near the $100/barrel price late in 2016 or early 2017. I was pretty skeptical and that was likely the reason I hadn't posted anything until today.  The analysts may actually be on target as their predictions seem to be coming true. I am hearing forecasts on the news/internet regarding a big bounce in oil prices, oddly enough by 2017.

Our 16 acres was part of a drilling unit within an application made in 2014.  However, that was back in 2014 and I don't know how long a drilling application approval is good for and/or if they have to reapply.

The representative has followed up stating their intent to actually drill on our 16 acres and asking us if we had issues with cutting down a couple of very old oak trees. We are hopeful that this all comes to be, but after sitting around with our fingers crossed for the last 6 years it's made us pretty skeptical.

Permalink Reply by Skip Peel - Mineral Consultant on February 22, 2016 at 12:54

Thanks for the update, Ben.  2017 might be a good projection for a rebound in price but everyone's crystal balls broke some time ago.  Most would find $100/barrel to be far too optimistic even for 4th. Q 2017.  I'm not sure what the price needs to be for LSBD development but I'm hoping in can be economic at $50 to $60 which is much more likely than $100.  Drilling and production units approved by the state are effectively indefinitely until such time as the are drilled or dissolved.  The real determining factor regarding the time line to drill is the aging of lease terms.  The unit designation does nothing to keep the leases in effect.  Drill 'em or lose 'em.  Although this is generally a positive turn of events I have some concerns.  Companies have been successful in getting the state to approve 1280 acre units.  Those applications use language concerning the requirements for horizontal wells but SWN and others have drilled vertical wells.  Holding 1280, two section, units with a single vertical well is not in the best interests of mineral owners or the state.  If SWN uses this approach to hold leases for the long term I hope someone with standing will sue them.

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