I’ve looked around on sonris but still learning how to navigate the system
I have interest in all three sections and have had offer for my minerals
I think I’m better off passing on the offers but would love to hear any advice
thanks in advance
Paloma isn't drilling for oil. Their chance of hitting Haynesville Shale is 100%.
The reason I was asking was because there are wells in those areas that have brought up a lot of oil back in the day’s
I’m trying to estimate a future value. I believe there are 10 wells either being refracted or just a new well
Those shallow oil wells are largely depleted. They were drilled in the mid 1950s and are over sixty years old. The Haynesville reserves are what is valuable. Paloma has acquired the "deep rights" (Haynesville). The shallow production, the little that is left, is owned by small, independent oil companies. The future value of any remaining shallow oil is effectively zero. Paloma is drilling 4 Haynesville wells in Section 17 and 1 in 18.
Skip I'm preaching to the choir now but PNG seems to have an aggressive drilling campaign as they turned two I had WI's in to sales in sec 10 (Grahams) last Dec. & Thrs. they spud 2 more (ROBNSN) also in 10. Close friend in S'port in O&G speculated a few weeks ago PNG's new owners were looking to flip the company in < 5yrs which somewhat surprised me given they only bought it from Goodrich a few yrs. ago.
I have mentioned on several occasions that Paloma Natural Gas has an aggressive drilling program. I check unit/alternate unit well applications daily along with permits to drill. That data goes into a couple of tracking spreadsheets. Smaller companies often look to flip assets. That has been the story of the Haynesville Shale from the beginning to now. It shouldn't come as a surprise. PNG didn't just get Goodrich's HA assets, they have picked up additional units from other operators. PNG picked up the Goodrich units almost exactly one year ago.