Replies to This Discussion

Permalink Reply by Teasdale's on April 2, 2011 at 3:43

Tex,

My brothers and I leased to Anadarko in 2009. We are in the Ruffin Turner League A-39 Survey. We inherited 3.47 net mineral acres each for a total of 10.47 net minerals. We got $125 an acre but we have a real small interest the unit of 1816.307 acres. SHEEZE, Like being a minnow in Toledo Bend. We are hoping they will put more legs or laterals in our unit. Got to like the mailbox $ though. If any of the experts would like to comment on the production numbers it the BP Blackstone A-727 B Unit, API - 241-30802. We are novices and I would suggest that anyone leasing CONTACT an ATTORNEY before signing as we did!

CHEERS,

T

Permalink Reply by Tex Calhoun on April 2, 2011 at 3:55

Anadarko offered us a renewal for the $125/acre and 20%, and I tried to negotiate a higher royalty rate, but they refused to even discuss the matter.

We let the lease expire. We figure Anadarko will come back to talk to us eventually.

Permalink Reply by Teasdale's on April 2, 2011 at 6:08

My brother reminded me it was February 2010 we finally leased. Good luck and stay in touch with Pete Dailey and Assoc, or, whomever is taking leases for Anadarko. You might get 1/4 if you wait it out, but do not let them drain your minerals for nothing. I would consult an Attorney because Texas O&G laws do not favor mineral owners and, that I have learned from this site and others.

Permalink Reply by Ben Elmore on April 3, 2011 at 3:09

For Austin Chalk acreage you will have a hard time getting better than a 1/5th royalty or $350 an acre bonus. Anadarko and Enervest are the main chalk players in East Texas. You might contact Enervest and see what they say about your acreage, however, the two tend to stay out of each other's territory probably because of a noncompete covenant that was part of Enervest's acquisition of a huge chunk of APC's chalk position in 2007. Be careful about holding out for too much, as you could find yourself getting left out.

Permalink Reply by Tex Calhoun on April 3, 2011 at 3:12

That's what I was starting to suspect.

We may go for 1/5, but we'll definitely want more bonus money.

Permalink Reply by Martha Nors on June 24, 2011 at 12:50

Does the Haynesville shale cover all of Newton county or just the northern portion?  Any news on the production of any of the wells Anadarko has drilled in and around the town of Newton?  Thanks

Permalink Reply by Tex Calhoun on June 24, 2011 at 12:54

It's part of the Austin Chalk formation, not Haynesville. Wells in that region have been producing wet gas, so it's more economically-viable in this economy.

Permalink Reply by Martha Nors on June 24, 2011 at 12:57

What is a "wet" well"?  I'm quite the novice.  thanks

Permalink Reply by Tex Calhoun on June 24, 2011 at 15:28

Wet gas has other petroleum products along with the gas, including propane and butane. These are usually eparated from the gas at the site and trucked off and sold. Currently, the by-products are worth more than the gas for some wells.

The Newton area of the Austin Chalk doesn't produce as much condensate as some other areas (like the Eagle Ford Shale), but it is more than almost all areas of the Haynesville Shale which is generally dry gas.