Can someone give an update on EOG and its leases its trying to sell? I live in Avoyelles and have lease soon to expire after 3 yr initial term.
If they pay the option then you are stuck for another 2 years. If they don't then you are free to lease to someone else. This simply is a wait and see game. On the other hand someone has picked up Pryme's acreage with 3 wells for around 6 million but they don't not want to declare who they are. Also, the Anadarko properties are no longer listed as far as I can tell. So someone may have picked that up also at a "fire sale" price. Time will tell. Wait for that check in the mail. It might be on its way soon.
It might be of interest that someone is starting to work the area East of Zachary. That area is geologically the same as the acreage to the West. If by some chance these are connected then someone is looking at a very large prospect: 1,000,000 acres with the target being AC. It would have to be a very large Major to be able to lease and work that amount of acreage.
Thanks Joe for the information. I'll be watching for future announcements.
Look for that check in the mail. I would love to know who pays the option.
Was at the Avoyelles Parish Clerk of Court office this morning and found out that Halcon Energy has sold 2,000 plus Avoyelles Parish leases to HK TMS, LLC. Not sure if this is ground breaking information...just wanted to inform everyone.
HK TMS, LLC is, most likely, a Halcon assumed name for doing business in LA/MS in the TMS play. They use HK Energy, LLC and HK Energy Operating, LLC in Texas and it is not unusual to see these conveyances between these entities.
CJ I doubt that EOG will let the first leases taken expire.The price for the extension option is very low for the first 2 years into their leasing project. Now after the 2 year mark when they had competition from Halcon and had to up the price may be a different story. By the time the higher price leases come up for the extension much more will be known about the TMS.
Thanks jffree and Two Dogs, Pirate for the information. I'll post the renewal options taken if ck is received.
Not only is Avoyelles the "Land of the Forgotton" ...we may actually not even exist in the TMS anymore. Let me ck my GPS and see...lol.
At the time everyone was drilling crap wells in Avoyelles/Rapides the same kind of crap wells were being drilled in MS and toe of then boot in LA. It has all to do with Wall Street. You have to look at the length of time that the crap wells have been drilled on the Eastern side vs crap wells on the Western side. Been a bunch more wells drilled on the Eastern side.
I have to agree with two dogs. When they started drilling on the western side, they didn't know what they were doing. Once they drilled a couple of crummy wells on the west side, the stock owners were unhappy. so, they went east. they have learned a lot!! now maybe they can use this knowledge and put it to use in the western side.
Thanks Two Dogs and David for your input. Maybe there is a blip on my GPS for Avoyelles.Rapides...waiting for the return of drilling by those who have learned better methods.