Angelina County Shalers:
Update on New Mineral Leasing - Black Stone Energy (Minerals) has leased 878 acres from the Texas Osage Royalty Pool (old Owens Illinois tracts) in the Caleb Holloway Survey (A-314). These tracts are located near FM 842 and east of the Moffitt area. They have leased two other tracts recently in the same vicinity. Black Stone is joint ventured with EOG Resources and several other partners in this area. Not sure what to make of the new leasing, but it may be related development of future units as a westward "step-out" from EOG's Sarge Unit.
Cortez Resource Partners, a relatively new private equity firm specializing in acquiring / selling mineral leases in neglected development areas, has leased several large tracts from the Angelina Lumber Company heirs (ACLCO Agency, Henderson Family, and others) in both Nacogdoches and north Angelina Counties. Both EOG / Blackstone and Goodrich Petroleum have very recently released (terminated) their interests in these tracts. I'm unsure whether these tracts were top leased by Cortez.
Does anyone have any information on basic lease terms (bonus, royalty) negotiated by the lessors in either the Black Stone or Cortez transactions?