Replies to This Discussion

Permalink Reply by Paul Butler on January 29, 2016 at 7:35

The deal looks IRC Sec. 1031ish (like kind exchange).

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Permalink Reply by Joseph on February 2, 2016 at 2:19

Without knowing the specific location of the DeSoto acreage, my best guess would be Chesapeake since they currently operate a few wells in Atascosa County. CHK obviously has a large position in several natural gas plays (Haynesville, Marcellus, Fayetteville, etc.) so it would make sense to further diversify their portfolio by adding more oil (Similar to Encana's recent strategy). I don't know a lot about the Eagleford play but I believe a large part of Atascosa Co. falls within oil window of play. Until an assignment is recorded, there is no way to know for sure but that's my prediction.

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Permalink Reply by Joseph on February 2, 2016 at 2:48

I thought about BEUSA but their position is much larger than 3,600 acres. I can't imagine them trading a portion of their acreage and then trying to sell the rest (unless they were selling remaining acreage to Comstock). Also, last time that I checked, BEUSA did not have any other US onshore operations. So I'm not sure it would make sense for them to acquire a few thousands acres in South Texas? However, I also would not be surprised to see BEUSA market their HA position in the near future. There were some rumblings last year they would jump back into CV development but I don't believe that ever materialized.

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Permalink Reply by Skip Peel - Mineral Consultant on February 2, 2016 at 3:39

EOG.  The assignments were recorded 1/26 & 27.

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Permalink Reply by Joseph on February 2, 2016 at 3:54

Ahh, that makes sense. I'll have to check out the assingment but I assume it was EOG's operated position in 11N-13W and 12N-13W. Maybe they excluded those few sections that were overly developed.

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Permalink Reply by Skip Peel - Mineral Consultant on February 2, 2016 at 4:14

I didn't take time to pull up the individual leases for location.  EOG's list of DeSoto HA wells gives a good general idea of their former AOI.

237805	HA RA SUD;MARTIN TIMBER CO 2	002	10							002-11N-13W
238622	HA RA SUA;BR BEDSOLE ENT 27	001	10							027-12N-13W
239026	HA RA SUE;D N BELL ETUX	001	30							003-11N-13W
239046	HA RA SUL;JOHNSON 6	001	10							006-11N-12W
239415	HA RA SUG;THOMPSON 11	001	10							011-11N-13W
239599	HA RA SUC;BILLINGSLEY 35	001	10							035-12N-13W
239605	HA RA SUB;LAFFITTE 34	001	10							034-12N-13W
239675	HA RA SUV;WHITNEY CORP 2 H	001	10							002-09N-14W
240043	HA RA SUF;BLACKSTONE 10	001	10							010-11N-13W
240171	HA RA SUC;SUSTAINABLE FOREST 5	002-ALT	10							005-11N-12W
240172	HA RA SUC;SUSTAINABLE FOREST 5	001	30							005-11N-12W
240182	HA RA SUR;YARBROUGH 1	001	10							001-11N-13W
240236	HA RA SUE;BLACK STONE 3	001-ALT	34							003-11N-13W
240361	HA RA SUB;BLACK STONE 4	001	30							004-11N-12W
240378	HA RA SUC;SUSTAINABLE FOREST 5	003-ALT	10							005-11N-12W
240393	HA RA SUC;SUSTAINABLE FOREST 5	004-ALT	10							005-11N-12W
240447	HA RA SUE;BEDSOLE 3	001-ALT	03							003-11N-13W
240464	HA RA SUS;RIVES-JOHNSON 5	001	10							005-11N-13W
240494	HA RA SUB;BLACK STONE 4	002-ALT	10							004-11N-12W
240501	RIVES-JOHNSON 5	002	10							005-11N-13W
240539	HA RA SUB;BLACK STONE 4	003-ALT	03							004-11N-12W
240541	HA RA SUA;BR BEDSOLE ENT A 27	001-ALT	03							022-12N-13W
240631	HA RA SUC;SUSTAINABLE FOREST 5	005-ALT	32							005-11N-12W
240632	HA RA SUC;SUSTAINABLE FOREST 5	006-ALT	10							005-11N-12W
240725	HA RA SUC;SUSTAINABLE FOREST 5	007-ALT	10							005-11N-12W
240822	HA RA SUE;BLACK STONE 3	002-ALT	10							003-11N-13W
240875	HA RA SUC;RED RIVER 5	001-ALT	10							008-11N-12W
240876	HA RA SUC;RED RIVER 5	002-ALT	10							008-11N-12W
240913	HA RA SUYY;FAGLIE ETAL 30	001	10							030-12N-15W
240930	HA RA SUC;RED RIVER 5	003-ALT	10							008-11N-12W
240960	HA RA SUB;BLACK STONE 4	004-ALT	10							004-11N-12W
240981	HA RA SUB;BLACK STONE 4	005-ALT	10							004-11N-12W
241073	HA RA SUB;RED RIVER 4	001-ALT	10							009-11N-12W
241084	HA RA SUB;RED RIVER 4	002-ALT	10							009-11N-12W
241085	HA RA SUB;RED RIVER 4	003-ALT	10							009-11N-12W
241223	HA RA SUB;RED RIVER 4	004-ALT	10							009-11N-12W
241224	HA RA SUB;RED RIVER 4	005-ALT	10							009-11N-12W
241242	HA RA SUYY;GRANTHAM ETAL 30	001-ALT	10							030-12N-15W
241243	HA RA SUYY;GRANTHAM ETAL 30	002-ALT	10							030-12N-15W
241422	HA RA SUL;BLACK STONE 6	001-ALT	10							006-11N-12W
241486	HA RA SUB;BLACK STONE 4	003-ALT	10							004-11N-12W
241638	HA RA SUYY;GRANTHAM ETAL 30	003-ALT	03							030-12N-15W
241682	HA RA SUL;RED RIVER 6	001-ALT	10							007-11N-12W
242054	HA RA SUL;RED RIVER 6	002-ALT	10							007-11N-12W
242152	HA RA SUL;RED RIVER 6	003-ALT	03							007-11N-12W
242153	HA RA SUL;RED RIVER 6	004-ALT	03							007-11N-12W
243076	HA RA SUQ;RED RIVER 20 H	001	10							017-10N-14W

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Permalink Reply by Joseph on February 5, 2016 at 5:20

I got my hands on the one assignment that had been posted online earlier this week. It covered properties in 12N-15W and 12N-16W. That makes sense with this position being right near LA/TX border and in close proximity to Comstock's existing HA position.

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Permalink Reply by CG on February 2, 2016 at 3:45

Jay, do you have a contact at Bridas or happen to know who is marketing their Haynesville acreage?

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