As of December 31, 2014, Southwestern held approximately 304,371 net acres in the area at an average cost of $831 per acre. Southwestern’s leases have an approximate 81% average net revenue interest and an average primary lease term of approximately three years, which may be extended for approximately three to four additional years. As of December 31, 2014, Southwestern had drilled 14 operated wells in the area, six of which were currently producing. Late in 2014, Southwestern acquired 75 miles of 3-D seismic data and is currently in the process of analyzing that data and the results to date.
Last Updated on 06/04/2015
Well, at least they didn't say "I don't want to talk about it..."
It wasn't part of the corporate presentation. There was no mention of the Brown Dense. However while searching the website and reading the press release and presentation I happened to look at the Brown Dense page. I hadn't looked at it in months because it went so long without an update before the recent one, June, 2015. I was surprised at the number of acres the company claims to still have active leases on. Makes me wonder if there has been a good bit of lease extensions that have not been mentioned here on GHS.
Skip, I'm personally aware of some significant acreage in Columbia County on which SWN exercised their option literally as the McMahen well was being flowed back (such as that was). Shortly thereafter that ceased.
Thanks, Bill. SWN has sent so many mixed signals it's hard to form an opinion. It is good to see that the Brown Dense GHS members are hanging in there. Hopefully there will be something tangible to discuss in the near future.
They extended the lease on my property in Union Parish. They did in fact do seismic testing on the property as they stated.
I guess posts like these keep hope alive for my sister and I that SWN will actually do some drilling while I am still young enough to enjoy the royalties.
The only activity that I have noticed is a series of applications to re-classify existing units as to hydrocarbons produced. From Gas and Condensate to Oil, Gas and Condensate.
Thanks, BLZ. Would you mind sharing the length of time the extension covers. No need to be specific as to the exact date. If your lease was extended for two years earlier this year you could say first quarter 2017.
A few months back I was at Truxno about 15 miles North of Farmerville talking to a man that said Southwestern had just extended his lease. This is the area where they shot seismic.
They extended mine by the chicken plant to 2017. I think given the current price environment they wont be doing much if anything in the near future. Its a wait and see game. Is it now the Dead Dense?
Nothing since late last year.