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Permalink Reply by Spring Branch,mineral owner on April 24, 2011 at 14:12

Goodrich is in the process of moving their drilling $$$$$ towards the "oily" plays as the other Operators are doing.  The Eagle Ford will get the bulk of their exploration $$$ for a while going forward.

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Permalink Reply by Les Bamburg on April 24, 2011 at 14:29

Hogeyes, Goodrich has only one permitted well in DeSoto Parish that has not been drilled and they may not actually drill that one.

 

Goodrich, Rushing 19 #H1 Well, Serial #242432, S19-T14N-R15W

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Permalink Reply by hogeyes on April 24, 2011 at 15:01

thx guys.  They even said as much in regard to putting efforts toward Eagle Ford.  Just wondering if they are going to sit on lease indefinitely.  Would like to see a little further development even with modest/low prices.  Are other operators just trying to meet primary terms of leases as well until gas prices increase?

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Permalink Reply by Les Bamburg on April 24, 2011 at 16:37

Hogeyes, several operators such as Exco, EnCana/Shell, Questar, El Paso & Comstock are primarily in development mode (not HBP drilling) while Chesapeake and Petrohawk are still primarily pursuing drilling to hold acreage.

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Permalink Reply by hogeyes on April 25, 2011 at 1:16

I wonder if applying legal pressure to drill would do any good.  Either drill or turn over lease.  At least it would start the clock ticking.  Thoughts?

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Permalink Reply by Skip Peel - Mineral Consultant on April 25, 2011 at 1:35

If there is production in paying quantities, you have no legal recourse unless your lease contains a continuous drilling clause.

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