My lease is expiring. Still haven't seen any completion info on the H. Nelson well. I understand Goodrich is currently extending the H. Nelson pad for the drilling of the next well, the Lowery 1H. With the placement of the gathering line and the extension of the pad, my uneducated opinion is that they must be expecting positive results from this location.
My family has property (and minerals) on the northern edge of Angelina County. The property was leased, but the lease expired last week. Goodrich has approached us to extend the lease--the family refused, because the old lease was standard boiler-plate. We are currently negotiating a new lease with Goodrich. If you are signing with them, be sure to ask for their "Addenda Page" of clauses.
The initial offer was $500 / per acre for a two-year extension.
Note: Goodrich has already agreed to 1/4 royalty and "free royalty".
We would like to know what other offers are being made before we commit.
Angelina River Trend, Nacogdoches and Angelina Counties, Texas
The Company has completed its Nelson 1H (100% WI), at a 24-hour production rate of 12,400 Mcf of natural gas per day with 11,500 psi on a restricted 14/64 inch choke. The well has been producing for approximately two months and is currently producing 10,400 Mcf of natural gas per day. The Nelson 1H has a 4,860 foot lateral with 15 frac stages. The Company plans to drill one additional well in the field in 2011.
I have difficulty figuring out where Texas wells are located (Louisiana uses a S-T-R system, which helps immensely.)
Where is the Nelson 1H?
And the Lowery well?