I spoke with a Landman with BBX a few weeks ago and he told me a few things:
1)Due to market conditions, they were on the last drill bit they were going to use to reach target depth.
2)They had yet to find a deep layer of shale they had hoped to locate.
3)Two different zones they passed through did show signs of natural gas release.
4)One of the layers is Austin Chalk, which the company has fracked at another location.
5)When the last drill bit stopped working, they were going to log aka scan the well hole using gamma rays, ect.
6)Geologists at BBX would then analyze the data and make a determination on what to do when market conditions make natural gas extraction profitable again.
So, at this point I'm in a wait and see holding pattern as far as when and if they will frack the well site.
Thanks for the info, Mike.
Yes, I've heard nothing new on the well.
Just a waiting game now to see if they will do anything more with it.
One of my brothers did let me know that when they spoke with a BBX person, they were told they might in fact also open up an old oil well that is located on our land. He said they may just drill it for natural gas and see what they find.