Replies to This Discussion

Permalink Reply by ken hatcher on June 6, 2010 at 1:07

Interesting! Over a year ago when things were stalled in Sabine Parish they reported that the shale movment would be south/southwest from Desoto to Sabine on over to Sabine Co....later on it started shaping up that way. Just a few pieces of the puzzle left.

Permalink Reply by Frank Coday on June 6, 2010 at 1:28

Know that Devon hopes the completed puzzle confirms their strategy of substantial 08 leasing in Sabine Co. north of an east/west parallel thru Hemphill at $ 5 to $ 6,000/ ac. in a totally unexplored area.

Permalink Reply by ken hatcher on June 6, 2010 at 1:42

One thing for sure, once the drill bit hits the earth Devon is looking at options all the way down. Just seem to be a mite frugal with their leasing money though. lol...however the 5-6 not to bad.

Permalink Reply by Frank Coday on June 6, 2010 at 2:23

At the time Ken, the 5-6 was very high. Historical rates were $ 25.00 to 150.00. Know this was pre HS, but HS core maps were not far south of the Bossier area in early 08 and no other company would come close to this( except Encana mostly northwest in San Augustine Co.) Best current offers that I know of are in the 2,500 range and this is in very north part of co. after successful drilling has moved our way. For sure, I hope in a few years it proves to be very frugal.

Permalink Reply by ALongview on June 6, 2010 at 3:31

Do you think Devon will get to that 5k-6k acreage from 2008 or pay on 2 year options to buy some more time? We have a good sized piece of a nearly 450 acre tract(A-23) they took in July 2008 and we haven't heard anything. They leased thousands of acres starting around 4/2008 so it seems like they would need to start soon to get to it all. Focus at this time seems to be San Augustine due to recent successes and more pipelines. Gotta be able to sell it if you spend 10 million to drill it I guess.

Permalink Reply by Frank Coday on June 6, 2010 at 9:30

Have an unleased int. in A-54 near A-23 ALongview. Think they will get to it to de-risk and establish reserves. My son is a finance mgr. for oil Co. and says most companies spend their exploration budget annually according to long range business plans, even in times of poor ecomomic conditions (such as price). Keeps the stockholders smiling. Feel like Devon's heavy commitment to this area in 08 has to be proven.

Permalink Reply by ALongview on June 6, 2010 at 15:30

Frank, That is kind of what I thought. It might help our immediate area if they had the East - West pipeline that would connect up to the Boulevard line East of Hwy 87. Any more word on that?

Permalink Reply by Frank Coday on June 7, 2010 at 12:22

Sorry for your missed post ALongview. Nothing new on that. More from the "pencil pushers", proven reserves have a large impact on future developmental costs and tax consequences, unless they are basically eliminated, as proposed.

Permalink Reply by jffree1 on June 6, 2010 at 3:48

Frank, Encana leased some of the Forestar (Temple) acreage in 2008 and a substantial portion of that was well south of Devon's line. One tract is on the west boundary of our 50 acres in Larkin Groce, south of Pineland. They have a two year option @ 5K coming up next year. You have to wonder if they will exercise that option.

Permalink Reply by Frank Coday on June 6, 2010 at 4:26

Probably not @ 5k. Wasn't aware of that kind of south activity. Next yr. S/B interesting around here!

Permalink Reply by Les Bamburg on June 6, 2010 at 5:55

Frank, two of the first discoveries of the Haynesville Shale were in Red River Parish and DeSoto Parish in 2006/2007 well south of the Bossier area.

Permalink Reply by JWC on June 6, 2010 at 6:58

There was quite a bit of land leased by Encana and Devon South of 103 in 2008 @5k an acre. I am not sure how many units have been put together. Anyone have an idea? Devon tried to put together a unit South of 103 down FM705 late 2009 but pulled out for some reason.

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