Numerous industry articles are now including mentions of the declining well locations in major basins.  As the shale era is approaching twenty years, much of the best rock has been drilled and companies are searching for new reserves.  I get regular questions from mineral owners receiving lease offers here on the Louisiana side of the Haynesville fairway.  Some are what I would call "infill leasing" where an existing section/unit is scheduled for new wells and the operator is looking to lease whatever they find to be unleased.  There are however an increasing number of lease offers that I will call "step out" leases.  As operators have fewer places to drill in the defined fairway, they look at what is close by and may be economic in the near future.  Those acquisitions are generally referred to as "bolt on" in industry parlance.  It makes sense as there is existing infrastructure near by that makes that step out more economic.  In a few cases, I have seen leasing in areas that are not close step outs, they are areas pretty far removed from current Haynesville development.

It is important for those who are willing to share the offers they are receiving.  We strive to keep the membership informed.  The leases I have seen have been for a quarter royalty and decent bonuses per acre.  Please realize that the bonuses are quite a bit less than we discussed in the early leasing rush of 2008 but they are substantially above what was offered pre-Haynesville Shale.  As this step out leasing increases, we need to know as much as possible and be able to share that knowledge.  For those that would prefer not to post that in an open discussion thread, please consider contacting me on my private page or by my business email which you can see on my private page.  Just click my name in blue.  If you find you need a friend request, please send me one and I will accept it.  Good luck.