Does anyone know if there are any companies leasing for shallow oil wells in the Converse/Noble area?
There are companies that are not associated with Haynesville development that are filing leases for that general area but unless someone has met with them and heard their pitch it's impossible to know their intent. It's also not a good idea to go looking for a lease. Much better to let it come to you.
N.J., could this type of company be looking to lease cheap and then flip the lease? There are people who think the boom has passed them by and jump on the first dollar that comes along. A shallow well toward the end of the lease could HBP until NG prices go back up. Sabine Parish is picking up steam, a lot of seismic permitting going on . . . Rig count is up. 2012 could be very interesting for Sabine Parish!
Shaleeee, This could be true but I'm not sure if there is economically viable gas to be had in the shallow depths. I was thinking more along the lines of oil. There has been shallow oil production for about seventy years or so in the area but the production amounts have been so small, many of the leases held by mom and pop operations have or are going by the wayside. The increased value of oil may be making some people start to look at the value of going back in to this shallow production.
Can not help but think that the 3000' lease is to obtain the lease for low lease money - not for any hope of measurable profits from oil or gas at this depth. Just my opinion and worth nothing!
I would think that many in the Converse area reserved the first 5000 feet. I was in the area when the shalers were first coming in and was putting out the word through some of the better known locals that 2 checks was better than one and that giving the shalers all depths would kill off the mom and pops that had been drilling shallow wells in the area for 60 to 70 years.