Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on October 4, 2024 at 11:11

Black Stone Minerals (BSM), not Black Rock, acquired all the mineral rights under Toledo Bend on the Louisiana side which I know from prior research.  It follows that they did the same on the Texas side and quite possibly under Sam Rayburn.  We need Julie to check the current activity and any public record evidence of intent to drill new wells.  I'll ask her to weigh in.  Without knowing exact locations within the listed surveys, that might be difficult.  Drilling units often cover only a portion of a survey.  Without knowing whether you are leased or not makes a value opinion difficult also.  If you can share more detailed information including the offer amount, it might help.

• ▶ Reply

Permalink Reply by Sod Holder on October 6, 2024 at 8:02

I noticed over the last few weeks that they are building a pad right off of Hwy 103 on the south side of the highway not far from the bridge between Angelina and Nacogdoches counties. It looks like this is in the Walker survey and close to the Hay Unit that was drilled at the exploratory stage back in 2011. No drilling permits have been filed yet, but I've noticed that is normal for the pad to be ready before the permit is filed. Hopefully this helps since I don't see any surveys in that area with an A___ designation.

• ▶ Reply

Permalink Reply by jffree1 on October 4, 2024 at 11:24

I'd be happy to look at those surveys if you will tell me which county or counties they are in, please.

• ▶ Reply

Permalink Reply by Michael David Brightwell on October 5, 2024 at 5:09

Angelina. See attached map of holdings.

Attachments:

• Angus Boon Tracts.pdf, 1.1 MB

• ▶ Reply

Permalink Reply by Skip Peel - Mineral Consultant on October 5, 2024 at 8:58

Michael, the map is very helpful.  In order to provide you with an informed opinion, it would take a lot of work on Julie's part.

• ▶ Reply

Permalink Reply by Michael David Brightwell on October 5, 2024 at 9:50

Wouldn't want anybody to go to a lot of work. I guess I just thought maybe some members might have some knowledge to share. Should this discussion be moved to Angelina?

• ▶ Reply

Permalink Reply by Skip Peel - Mineral Consultant on October 5, 2024 at 10:19

The Texas portion of the Haynesville Shale fairway is much harder to track and doing the research to establish what is going on where takes time.  It is highly unlikely that anyone in Angelina has a mineral interest similar to yours and that makes a good bit of difference value wise. Anyone considering a sale of mineral rights needs to get competent assistance in order to ensure that you are getting a fair market price.

I'll help you to post in the Angelina County group but the website no longer sends out email notices when someone posts a new discussion.  That functionality ceased some years ago unfortunately.  Here is a link to the Angelina County Group page.  You must be a member to post a discussion. 

https://gohaynesvilleshale.com/group/angelinacounty

• ▶ Reply

Permalink Reply by EastTexasFarmer on October 9, 2024 at 14:40

In response to Mr. Brightwell's specific questions, please reference Black Stone Minerals website for its mineral ownership footprint within Angelina County, TX. Although Black Stone Minerals doesn’t post their actual mineral ownership percentage, it appears that Black Stone generally has a substantial footprint in the referenced surveys. I follow Black Stone’s earnings conference calls and Angelina County is part of Black Stone’s “Gulf Coast” mineral acquisition zone. Regarding mineral development, Black Stone Minerals and Aethon Energy are joint ventured, with Aethon providing drilling and operating roles. The referenced surveys are within an area of mutual interest.

Aethon Energy has drilled several horizontal natural gas wells near these surveys (which you can locate using the TXRRC GIS website). Regarding leasing, Aethon Energy is leasing specific surveys in the area, and their dominant primary term is 5 years (a 3-year primary term with a possible 2-year extension) based on my review of courthouse filings, meaning a possible lengthy holding period. I'm not aware of any other E&P leasing in this area.

Currently, Aethon Energy has exercised a “time-out period” and their drilling activity is on hold because of poor Natgas market conditions. Based on recent information, Black Stone has not yet received notice of Aethon’s intention to restart their drilling program.

Please consider my comments as generalized and sourced from publicly available information.

• ▶ Reply