Any offers S of Many?
I received a phone call today from someone purportedly representing Suncoast, who was interested in the lease status of some property in T4N-R11W. He was very non-committal: just "gathering information"; "possibly future negotiations"; "we may get back to you", etc.
He made absolutely no concrete statements or offers.
Has anyone else in this area been approached in similar manner? By Suncoast or any other entity?
That is good news for the area - thank you for sharing.
We noticed this press release from Houston Energy has been removed from their website this week. Their business premise is ECONOMICALLY developing oil and gas fields, so I guess they need to prevent word getting out about oil being found in this area to keep acquisition costs down. Things are getting interesting.
Received notification that Justiss has assigned a 30% interest in a portion of its Hornbeck area leases (Sabine Parish) and Vernon Parish leases to
TDX Energy: 18.75%
TED Wyoming Trust: 6.25%
Houston Energy LP: 5%
Book 714, Page 187, Sabine Parish
Lessors include: Pantaloon Holdings, B&J Limited Partnership, J G MItchell, Abe and Linda Mitchell Trust, R J Lucius Estate, Edwina Thedford, Kathy Thomas Hooper, John Michael Slay, Janice Brown Cole, Linda Brown Hilton, and others: B J Peterson, E A P Salter, RW Lehr, JD Basco, WT Basco, SB Barnhill, MBSB Hauser, JA Browning, S K Templin, JC Wooley, LE Alphin, BW Farris, RN Horton, GW Lee, MF Bradshaw, ME Smith, JC Swett, RW Savell, BR Peterson, GJ Walsh, DH Stark, L Burleson, WC Bridges, E Bridges, GH Conerly, SJ Lee, NC Coleman, COVAL, JS Curtis, JC Brown, DR Foster, (and five more pages of conveyances!).
I too noticed Houston Energy's removal of the Hornbeck prospect article. I think you may be partly right regarding your point about their efforts to minimize their acquisition cost, but I spoke with a rep from Justiss Oil and along these same lines, he makes a good point about their strategies for economically developing and marketing their oil and gas finds. This is an exerpt of his explanation of his company's approach to minimizing production costs:
"Unfortunately, after a well is completed there can still be a large amount of infrastructure costs incurred to bring the product to market, whether it be building a pipeline or constructing a tank battery and maintaining a road to it to allow trucking the product. In many cases the cost of building the infrastructure to deliver the product can cost more than actually drilling the well. If it costs, for example, 3 million dollars to drill a well, and another 3 million dollars to build the infrastructure and the well only produces 5.8 million dollars worth of product, obviously that is a losing proposition. But, if by waiting on additional activity in the area it is possible to reduce the infrastructure costs to 1 million, it then becomes profitable to bring the well on line."
Unfortunately, the costs required of the land owners is time and patience.
Zap Minerals #1 well in Sabine Parish, Hornbeck, LA: May 17, 2012
Latest word on Sabine Parish 4N-11W comes from a rep from Houston Energy, Inc. They are saying that they "are waiting on the results of the summer 2012 wells in Rapides. Should they be economic we will go horizontal."
So we'll need to keep a close eye on activity in Rapides over the next few months and hope for or expect a horizontal move on the the shale from Zap Minerals #1 known to possess a hydrocarbon presence.