I have been a member of this site since 2008.
A time when our families large bonus payed
on our 250 acres in section 033, 16n-13w
by Camtera was said to be a drop in the bucket
in comparioson to future royalties. Then S. Caddo
and our laocation in the Elm Grove field was
considered the hot spot. Forward ahead to 2013
and 3 failed attempts at drilling a successfull well.
We have made only 5000 dollars from 08 to August
of 2013. The activity on this site shows little if
none of the subscribers have posted in years anything
in the way of potential new drilling in South Caddo. Does
anyone know why, besides the usual answer of low gas prices.
We just resigned on the aforementioned land and half way through a 3
year lease no new well has been added. I assume that Exco
is doing the drilling and after their accident in April of 2010
are probably relluctant to drill in our unit, but will they ever?
Is there a chance another company who has been successful driiling in the
LCV headed our way? I seek any news past our present from any of
South Caddo Parrish members.
Tags:
John:
2008, huh?
That must've been a sweet bonus on 250 acres.
Did ya'll hit the jackpot and move the ticker over $10,000 an acre (or even $5k higher) and get 1/4 royalty and a free royalty clause?
If so, then the bonus alone was a huge win-win.
The only producing well in your section is S/N 237795/LCV RA SU115/DEBROECK 33. It has depleted to the point that EXCO might have a difficult task to defend a suit to terminate the lease under the state statute regarding Production In Paying Quantities. Go see an experienced O&G attorney and see what they think. At the current price of natural gas the production may not be sufficient to cover the cost to operate the well. If not now then likely sometime in the very near future.
If Exco was planning on terminating the well and abandoningthis unit, might another company be interested? Or, Is it justa part of the shale which contains minimal gas? SurelyBig Oil knows if there is an area in our section whichis worth drilling. Hell Debroeck 4 next door hasremained strong. I guess life isnt fair when a couple of feethave determined if Im a millionaire or just a man whowill never see another dime from land my familyoriginnally leased for 5000 an an acre.
John:
My family's been leasing farmland in Elm Grove Field in Bossier Parish for about 100 years, going back to the very first oil boom. There are wells named after my grandparents on SONRIS going back to the early 1900's, i.e., with state well numbers delineating them as some of the very first oil wells in La.
What I've learned over the years is that a landowner never knows what's going to happen per the various formations and the ever-evolving technology.
Yes, sirree. Those early oil wells played out a long, long time ago; and probably most thought the formations had been sucked dry.
But little did they know how deep the drill bit would eventually go.
Lesson learned.
john, there's nothing wrong with the Haynesville Shale in your section. You're problem, originally, was being leased to Camterra. Your problem now is that EXCO will ride this well down until they are ready to drill a Haynesville well unless someone creates a situation where they need to drill in order to keep the lease rights.
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