Skip, I would bet their acreage is HBP so no need to be in a rush. Plus they are having to spend a lot of their capital in the US on their commitment to Chesapeake under the Fayetteville Shale deal and they bought the big position last year in the Woodford Shale. Finally with the Tangguh LNG project coming on line this year that will let them shift more capital $$$ to the US.
Les. I agree on the probability of BP's leasehold being HBP. However, even with no intent to fully develop prior to now, I would have expected a test well. Then again, a good reason for remaining out of the public eye could be the acquisition of additional leasehold through a third party.
Hi Skip, Spider is my back yard. BP is the successor to leases that have been HBP since the late 70's (and before). Hosston and Pettit production. St Mary also has a position in Spider/Grand Cane. Continental Resources (Oklahoma) has several 100 acres down there too.
Skip, There are no leases to be had. Between BP, St Mary, and Continental everything is buttoned up. There might be some open acreage on the S fringe of Spider outside of the Hosston production, but that will be pretty picked over and if its not leased the title is a go-de-bow goat deal (a little Okie lingo there)
there are gazillons of wells around Center which is very close to Logansport...sorry meant this for Les B above about the Logansport property...i was in on a lot of fracing in that area especially the road between Center and Nacd...CR1210
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More