San Augustine / Shelby County XTO & Blackstone
I have several hundred acres under lease to XTO (William Humphreys and JH Fox Survey). The Humphreys survey has a single well (Borders Q) that has been active but producing very little.
Over the past several months several groups have reached out to purchase the parcels for a decent amount of $$. This tells me that someone knows something that I don't. After doing some research on activity in the area it seems Blackstone has entered into an agreement with XTO to increase production in the area.
https://www.rigzone.com/news/black_stone_minerals_xto_ink_shelby_tr...
Does anyone know of specific of general information on the impact this Blackstone deal will have on William Humphreys and JH Fox Survey?
Hopefully some new production will come online.
Tags: Augustine, Fox, Humphreys, JH, San, Shelby, Williams
Views: 331
Replies to This Discussion
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Permalink Reply by EastTexasFarmer on
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JW, it's too early to guess. Black Stone will soon start talking with alternate operator(s) regarding their non-developed acreage in the east Shelby Trough area (i.e. San Augustine County). Per their latest earnings conference call, it appears that the business partnership arrangement (with XTO) allows them to start talking with other operators this month. As your informational link describes, the BSM / XTO arrangement relates to 13 currently drilled / uncompleted wells (DUCS) that must be completed and turned to sales by next March (in return for royalty relief). There's more details in the Q2, 2020 earnings call transcript.
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