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Attached is the pdf of the recent BLM lease sale.  All the Texas tracts (the last 7) are in Trinity County.  A few things pop out to me on this:

Oct_2012_Sale%20Results.pdf

This is a voice auction, with bidding starting at $2/acre.

Martin Fuels bought several of the leases.  The lease values suggest there were competitive bids for almost all of the leases.  4 of the 6 tracts they bought are contiguous, or nearly so, so they've got a big chunk to develop.  The two smaller chunks are not continuous - but are in the same general area.  Apparently, whoever was bidding against them wanted a large holding, not something they would have to include in a unit, or possibly JV with someone else.  the prices Martin paid do not suggest strong interest by any of the big boys in this area of Trinity County yet.

Leor picked up a lease to the east of Apple Springs, near the Angelina/Trinity county line.  The dollar amount suggests that there was a competitive bid.  my guess is that it was not Martin Fuels, as Martin has seemed willing to pay $40-$80 acre in previous auctions.  I would also infer that Leor has private minerals under lease there, based on the size of the tract.  

The next sale by BLM is in January, with parcels in Walker and San Jacinto Counties.  Public scoping of the April 2013 sale starts at the end of this month, so we should know then if there is stronger interest.  

Tags: Apple, Austin, BLM, Bossier, Carrizo, Chalk, Deep, Dexter, Eaglebine, Glenrose, More…Springs, Wilcox, Woodbine

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Replies to This Discussion

bump

Thanks dbob,

 That's GOOD info to know that not only is there demand but also competition for Trinity Co., bet those Fed leases are 1/8 royalty also -------- seems they cut their own throat with all the red tape though ----------- Understand that Martin fuels usually buys for someone else

Isn't some of this the same acreage that TKexon  or Tom Knolton had ?

I'm not sure yet if this overlaps some of the Tekxon acreage or not.  It is certainly adjacent if it does not overlap.  

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