I have some news. Goldston Oil has leased property south of Castor. The lease does not cover Haynesville shale. Just Hosston up. Terms of the lease were 500/acre and 1/4 royalty for a 3 year only lease. Any thoughts on Goldston? I know they have wells in Texas. I know the record on SONRIS does not look to good to me but they may have isolated something on the 3-D survey they want to go after. It was only a small area they went after. Any thoughts?
How far south? I have 20 acres back of the old sawmill.
Get a professional to review the lease prior to execution. Otherwise, take it. It's a good offer for the area at this time.
i had my lawyer, who has negotiated many o & g leases to negotiate with them for me. he wanted to make some minor changes to the lease. he was told that they were the only one's interested in leasing it and we could take it or leave it.
That is kinda the same thing here that I have been told by the folks that leased to them. They leased up to my property line and stopped. They only wanted a small area for what they had planned. They probably only have about a half of a section. I have not seen the lease the folks signed.
Thought I would give an update. The well serial number is 244732. (S13 T14 R8) It is going to be a wildcat. The measured depth is 4500 feet. What formation would this be? I had heard petit but I thought it was deeper than this. Any thoughts?
Would 4500 feet hold the whole section as a unit?
Site construction is under way on this well. A new pipeline is coming through as well. The company is called Wildcat. Has anyone ever heard of them before? It is a 6 inch line.
I know no specific info on this Bienville location, Marc; nor do I know anything about Wildcat, per se.
But from what little I do know about some older shallow oil wells which have produced for many years sorta 2.5 miles NW - W, of the CHK 17 13N 7W well -- then I can only make a wild guess that the goal is to find oil.
And I can only assume you know this per the general circumstances of NG prices, etc.
Looks like they have finished the site construction and Goldston is moving equipment in to start the well.
They are rigging up today. Stallion has been moving in equipment today.
IMO 4500 is too shallow for the pettit in that section. I just took a quick glance but it appears to me they are going after the same oil producing formation the topy creek field just to the south of there produces from. Although that formation is not quite that deep.
Edit: I Just checked the permit and it says Tuscaloosa which is what the topy creek field produces from. Good Luck!
Thanks for the information. I think the wells in Topy Creek are a little shallower than this one is supposed to be. On average around 3500 feet. I hope the extra depth proves out. It will be very interesting to see what will happen with this one.