Replies to This Discussion

Permalink Reply by jffree1 on March 15, 2011 at 10:21

It looks like Bossier to me but what do I know?   What impresses me is that it looks like about a 3000' lateral and was still flowing back when tested.  Did you see the water produced?  It's on the G-5.

Permalink Reply by ALongview on March 15, 2011 at 11:01

615 bbl I think.

Permalink Reply by Fred W. Smith on March 18, 2011 at 3:01

With these two wells coming in this good, why is there not more activity in N. Sabine Cty.?  I know the Frazier is drilling and the McGuire is at some point, but that is all, except for the Hall adventure that I can't understand.

Permalink Reply by ken hatcher on March 18, 2011 at 9:09

It bodes well for the future IMHO! Congragulations to the faithful who have hung in.

Permalink Reply by ALongview on March 18, 2011 at 9:19

I just don't understand why Devon is planning on letting its Sabine acreage expire without exercising any renewal options.  They never even tested the area.  I just hope someone comes in and picks some of it up......someone that will actually do something with it.

Permalink Reply by ken hatcher on March 18, 2011 at 9:25

Devon has more moves than a matador.... ultra conservative! Hard to figure.

Permalink Reply by Joanne W. McBride on September 23, 2011 at 12:07

 

I was told that Chesapeake bought out Devon -- that is why they aren't doing anything.

Permalink Reply by jffree1 on March 18, 2011 at 12:35

Surely you have thought through the possible scenarios... They have renewals at 5K & some at 6K.  I think they figure to let those lapse and they can come back in later for a much lower price.  They get to write off those high cost leases and would have a (probably much) lower cost in any lease going forward.   The only thing that would wreck that would be a bidding war later on with another operator which doesn't seem very likely at the moment.

I know of a couple of people who sure wish they had taken the 2008 offer instead of holding out for more.

Permalink Reply by ALongview on March 18, 2011 at 12:54

The biggest problem I see going forward in Devon using that tactic is their track record in the Haynesville/Bossier just flat out sucks and that's being generous. Many will want nothing to do with them for that reason alone.  They drill wells next to historically mediocre(in comparison) operators and get their clock cleaned on production. 

Permalink Reply by Mike on March 18, 2011 at 16:10

There may be some leases with renewals but our lease with Devon does not have that option.  The company that was writing leases for Sabine County  for Devon wrote ours, so it's my opinion none of Devon's leases include renewals. 

I thought that since they are dropping our leases for oil plays, why not check out the Pettit while they still have interest in the area.  Then again, don't and let us go for another lease bonus. 

Permalink Reply by ALongview on March 18, 2011 at 16:26

I know very personally that 445 acres have a renewal option.

Permalink Reply by Fred W. Smith on March 18, 2011 at 14:17

I agree with someone doing something.  Some of us don't have options.  A lot of people have been approached to sell their mineral or part of acerage.  Doesn't that mean that they know something and want to reap the rewards.

• ‹ Previous
• 1
• 2
• Next ›
• Page