A landowner contacted me about being approached by a landman from ReliaTerre Professional Land Services from Lafayette about acquiring a mineral lease on his property in T1N-R2W near Forest Hill, LA. Anyone else been approached by this or other group? Anyone know who ReliaTerre is representing?
Property is just west of FH. Landowner was offered $250p/a and 20% royalty. Also, and I'm sorry for not mentioning this earlier, but it would appear that ReliaTerre is initially trying to acquire an option to lease because the landowner mentioned that the landman referred to an agreement based on $25.00 per acre and that the subsequent mineral lease would be for the $250p/a.
So a surface lease amount of $25 per acre, plus mineral of $250 per acre with % royalty. I know that Magnum Producing LP out of San Antonio drilled a prescribed well back in 8/2018 to extend a BLM lease holding LAES 059344X. This was SN# 251222 in T1N/R2W section 6. Only drilled to 8900' Majority of land in this BLM unit was federal land but some of it was private land. The well itself was drilled on private land on Boy Scout Rd. This new leasing activity may be a result of some things learned during this drilling. I myself am a unleased landowner in a BLM unit too.
Also D&D Drilling out of Ferriday, LA did that well.
Who would want to tie up acreage for a $25 an acre option? Not me!
An option to lease is typically utilized by a speculator, not an operating company. Kirk Barrell/Amelia Resources has used the option to lease approach to tie up a good bit of central Louisiana acreage prospective for the AC play.
So basically Skip they are a for profit broker? Lease up low & resale high. At least it is good to have interest in the area. I have not seen much from Amelia Resources lately, they are quite.
Has anything new happen in this area that you know of?
Nope, not a peep. Will let you know if I do.
Marathon plugged their Crowell well due to mechanical issues. Word is they will offset it just to the north next month.
Thanks Jay! I believe the Rig sign was still there as of last night.