Replies to This Discussion

Permalink Reply by JWC on January 11, 2009 at 3:52

I do know Devon still has an office in San Augustine.

Permalink Reply by Cheerleader on January 11, 2009 at 10:29

JWC,
Do you know the Devon office number in San Augustine?
Thanks.

Permalink Reply by JWC on January 11, 2009 at 12:31

I do not have their number Cheerleader. Sorry. Someone else may know it. Can someone help Cheerleade out? Thanks.

Permalink Reply by jffree1 on January 12, 2009 at 5:35

OK, Here's what I hear about DJ Energy (leasing for Devon). They have closed their Hemphill office but are still leasing in Sabine Co., at this time. It appears that they are working out of the San Augustine office, though.
I went through the press releases at the Devon website and Devon made a statement that they are withholding comment about their budget allocations, for the 1st Qtr., for awhile yet. It appears that they are waiting...for something?? Only Devon knows what.
I was told, by the man in charge of the Hemphill office, the week after Thanksgiving, that they were waiting for the 2009 budget funds to be released and that they fully expected to be leasing in Sabine Co. in 2009.
What I say next is just opinion, take it for what it's worth...
Devon is going to concentrate on areas that are less exploratory in nature, unless and until NG prices move back up and there is a better market climate for the gas. Sabine County has had a small handful of holes to the depths that are being drilled now. We are almost totally unexplored as to Haynesville/Bossier Shale. That makes us more risky than drilling in Shelby or San Augustine.
It could be months and it could be years before we see the kind of activity that went of here last summer. But, time is on our side. The gas is not going anywhere, if it's down there. Don't get in a panic and take on a lease with bad terms. You may have to live with it for generations yet to come.

Permalink Reply by jffree1 on January 12, 2009 at 5:53

It's also possible that DJE wants to lease at a smaller than '08 bonus price. A good way to get landowners to take less money...pull out and stay out for a few months, then come back with an offer that is half, or less, of what they were offering in '08.
Big OG leaves town. Land owner gets scared that they have been left out. Big OG comes back to town. New offer is lower than last year but, at least, it's a lease. Landowner takes smaller offer, out of fear that there will never be another opportunity. Big OG now has lease that is more in line with current NG prices.
Guys and Gals, this business is constantly in flux. It ebbs and flows with the market. The gas is not going anywhere and there are numerous possible strata that will produce natural gas and/or oil under Sabine County. They will be back. And, when they come back, what you take for a bonus offer is a personal decision that you will have to make. It has to be within your personal comfort zone. But, it bears repeating, often and loudly...DO NOT TAKE A LEASE WITH BAD TERMS, no matter how small the bonus money.

Permalink Reply by Shelley on January 11, 2009 at 14:08

Hey Cheerleader. Here is a number that my husband had gotten...
Gorden Miller
# (903) 571-2773
e-mail address- gordon55@suddenlink.net

Hope this helps!!! I

Permalink Reply by Rebel Roy on January 27, 2009 at 1:20

Any new news from anyone???

Permalink Reply by Fay Arthur on January 27, 2009 at 3:03

I understand they are doing a makeover rig on the Shockey place in Rosevine . They drilled it in 95 and only went down 6200 ft. Also they have issued a permit for a well on 87 5mi. east of Patroon in Sabine co.

Permalink Reply by Sandstone on January 27, 2009 at 3:34

Do you know what O/G company?

Permalink Reply by HS on January 27, 2009 at 9:33

THEY ARE PLUGGING THE OLD WELL ON THE SHOCKEY PLACE , THEY DONT HAVE THE LEASES
ON THIS LOCATION ANY MORE , THEY IS MARATHON . THE WELL EAST OF PATROON IS ALREADY DRILLED IT WAS A PARTNERSHIP BETWEEN MARATHON AND ELLORA ENERGY CALLED ZAP 2.

Permalink Reply by Lawrence Edwards on February 19, 2009 at 10:41

For those who signed leases with Devon Energy, was the landman that you dealth with associated with DJ Energy out of San Augustine, TX?

Permalink Reply by Lawrence Edwards on February 19, 2009 at 10:47

I just spoke with a representative of DJ Energy of San Augustine, TX who indicated that they are the exclusive reps for Devon Energy in the area. According to this person, DJ Energy in is the process of completing some leasing in San Augustine County in areas where they secured some earlier leases. It almost seems that they made initial leasing inroads into as many areas as possible and now hopes to go back and secure leases on adjacent properties. I was also told that DJ Energy is concentrating on San Augustine county right now and are awaiting instructions on when to resume activities in Sabine County.

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