Breckenridge Area T16N R15W Sec 24, Keithville
The Parish recently sold mineral lease rights in this and surrounding sections for $30,212 / acre and a 30% royalty to Theophilus Oil and Gas Land Services. It is my understanding Theophilus represents Chesapeake Energy. I do not understand why the Parish gets top dollar, a 30% royalty... plus a rental clause. Perhaps someone could explain this.
If you haven't listened to the Chesapeake - PXP jount venture conference call, you should do so...
The wells to date in the Haynesville are referred to as Triple X monsters... and they expect this find to be much larger than the Barnett.
A section is 640 acres (1 mile X 1 mile). Several subdivisions and Grawood Baptist Church are within Section 24. There are pasture and forest lands to the North, Northeast and Southeast of Section 24. It is my understanding this area is highly desired by Chesapeake... maps show it as a core area and also show the Haynesville shale depth @ 200' or more.
Thanks for any insights you can provide.