Alright Folks....I live in St. James Parish and own some land North of Red River in the CenterPoint area and also in Mansura and Hessmer areas... anyway I told a lawyer in St. James Parish about the lease agreements in effect for 400-500 bucks per acre and royalty's for 20 to 25% in Avoyelles...and to say the least he was astound by these numbers. In St James they are getting 15 to 100 bucks per acre with 1/8 + royalty. Can anyone really tell me what will happen with the TMS in the next year for Avoyelles, Since I don't live in the area I am out of the loop.
No one really knows.
EPG is now drilling the first test well of the TMS in Avoyelles, along the Lasalle Arch, in an attempt to retrieve the deep oil.
If the well fails, The land men could pack up and leave.
If it hits, lease prices could go up.
But lease prices now are the highest in Avoyelles since they began a couple of years ago in the 125 range.
When Halcon came in they began offering the 500/25percent. EOG was at 300.
p.s. (Regarding the well now going up in Avoyelles at Brouillette. From a recent onsite inspection we learned this: They have two drilling rigs planned for the current well, the first a monitor well, and the second will be the actual drilling rig. The two rigs are about five hundred feet apart. Water for fracking will be pumped from Red RIver)
Abington im from Avoyelles. Do you know what town is the Lasalle Arch located or rather the Well is near.? thx
2 miles East of Brouillette.
We initially got $~125-150/ac several years ago and then the co. went through bankruptcy. Then we got offers for something a little more through an independent land man, with us thinking he was going to sell the rights to another company. Did a little checking and Woodland or Woodwind was signing contracts so we got the local lawyer to get for us the same our (long-distance) neighbors were getting. We signed for $400/ac and 20%. Have heard nothing more. Our land is in Eola. The last active (multiple) wells on this land in our family - multiple - were capped in the 1960s.
Abington you mentioned the Lasalle Arch. Does anyone know what townships this geologic formation runs through or beneath? Thanks to everyone else for the info.
Thomas, the LK shelf is in purple in the map on this post http://tuscaloosatrend.blogspot.com/2011/12/stone-energy-enters-tms...