Replies to This Discussion

Permalink Reply by RBH on January 11, 2010 at 18:38

Paloma Resources..who is leasing for them?

Permalink Reply by Etola on January 11, 2010 at 18:54

It has been a couple of months since I spoke to them but in the meantime they have opened an office on the square in Center near the Farmers State Bank. I spoke to 3 different men (2 were working in Center and 1 in Houston). I'm sorry I cannot remember any names, but I have phone #s if you want them.

Permalink Reply by jffree1 on January 4, 2010 at 9:59

Ellora has finally made a move.

http://www.prnewswire.com/news-releases/ellora-energy-announces-sal...

Ellora Energy Announces Sale of Hugoton Field Assets For $247 Million
DENVER, Jan. 4 /PRNewswire/ -- Ellora Energy, an independent oil and gas company engaged in the acquisition, exploration, development and production of onshore domestic oil and gas properties, today announced the execution of a definitive agreement to sell its southwest Kansas (Hugoton Field) and southeast Colorado properties to an undisclosed buyer.

Under the terms of the agreement, Ellora Energy will receive $247 million for all of its operated and non-operated properties in Kansas and southeast Colorado effective as of January 1, 2010. For the quarter ending September 30, 2009 the sold properties produced 30.6 MMcfe/d, comprised of 52% natural gas and 48% oil. The transaction is expected to close in the first quarter of 2010 and is subject to normal closing conditions.

T. Scott Martin, Chairman and Chief Executive Officer of Ellora Energy, said, "The proceeds from the sale will allow us to significantly reduce our debt and more aggressively pursue our efforts to maximize the value of our lease position in the dynamic Haynesville Shale gas play in East Texas. We believe now is the appropriate time in Ellora's life cycle to put our focus more squarely on the Haynesville play as we continue to explore our strategic options."

Steve Enger, President and Chief Operating Officer of Ellora Energy, said, "For the past several years we have focused on improving our approach to developing this huge leasehold position in the deeper horizons of the prolific Hugoton field. We have achieved meaningful production growth, strengthened our land position and created additional opportunities in the play by successfully applying exploration technology. We believe the new owner will continue to find this an attractive opportunity for future development."

Permalink Reply by L D H on January 8, 2010 at 3:27

Etola, Is there any company you would recommend. What other operator is in the area?

Permalink Reply by Etola on January 9, 2010 at 4:53

Chesapeake leased my cousin's 45 acres about 2 months ago and that property is sandwiched right in the middle of Elora hbp and leased acres. I am wondering if that ever will become a JV. CHK also leased several hundred acres on the north side of Huxley about a year ago. (When I say Huxley I mean starting where FM139 crosses Tenaha Creek and ending south about 15 miles. The city limits of Huxley covers more acreage than people realize.) Also Paloma is very interested in leasing the Huxley area. They have an office in Center on the square. CHK 's office is on Shelbyville St. in East Center. Sampson is a good company, but they mainly drill for oil and shallow gas. I don't think Devon has leased in Huxley area yet, but I heard they are very interested in Huxley. I hope so anyway and have my fingers crossed!

Permalink Reply by RBH on January 9, 2010 at 9:44

Samson permitted two deep tests but has not drilled them yet.
Oswalt #1H 13,000' Waskom (Haynesville) and Bobby Gas Unit #1H also Waskom (haynesville)

Permalink Reply by Don Graves on January 9, 2010 at 9:47

What were the terms of the lease?

Permalink Reply by MARG on January 11, 2010 at 14:23

Hi Again!

Is Huxley city limits up at the bridge at Tenaha Creek near Harvey's Landing? Has Chk leased in there and are they treating fairly. I know they leased a lady I know who lives in Utah, and she called me and found out about the H. Shale, etc. She leased it to them for five hundred as she said she had told them she would before she decided to phone anyone and that she was a woman of her word, etc. She indicated that she thought it was a good deal if she did it rapidly. A cousin of mine near there has not leased, and two of us in another survey are holding out too.

Permalink Reply by Etola on January 11, 2010 at 17:48

From Tenaha creek to Harvey's landing is about 5 miles. Chesapeake leased several tracts in the northern part of Huxley in spring of 08 when bonuses were just starting to go up and now recently leased some land in the John Haley survey from my cousin a couple of months ago. I do not know what she got per acre but she was very satisfied with Chesapeake.

Permalink Reply by MARG on January 11, 2010 at 18:23

Chk offered a thousand dollars an acre to someone I know there on FM 139, but it was up about Ashton which I have heard was a hot spot. Who knows until they drill????
I was hoping for much more than a thousand per acre LOL. I have been involved in wells since babyhood, and I need to study some things about our leases as they have farmed out here and there, etc.Some companies have some zones and other have other depths. The unleased one is totally free of all zones now. I was thinking that prices might pick up by the end of the first or second quarter of 2010. We are not getting any younger; thus, I wish they would hurry, go up, drill, etc. LOL

Permalink Reply by Etola on January 11, 2010 at 18:31

Ashton hill is only a few miles from the Harvey well (probably only ten miles through the National forest) that CHK drilled during the summer. It supposedly was a good well but was damaged during the fracing process and is producing like a good vertical well does. I think it was mainly a test well so maybe Ashton hill is a hot spot!!! I hope so. My cousin that I was referring to with the 45 acres in Huxley also leased in the Aaron Castleberry survey at the same time which is south of Ashton HIll. Knowing my cousin as I do. I would imagine she did not take less than a thousand per acre. She's pretty sharp when it comes to finances.

Permalink Reply by MARG on January 12, 2010 at 5:46

Good Morning, Etola!!!
Yes, I think you are definitely correct about the Harvey Well and the "as the crow flies" route. I thought it was the Abrsamm (sp), White, John English and that English went from the Lone Cedar Rd. straight through the woods to 139. I have not looked it up, but once I was helping somone with something and saw a pic. I have a cousin who is in the John English Survey. At one time, her son leased for Chk. My cousin was leasing around the Harvey Well for himself and planned to drill it; Chk came in and overpriced him before it was all filed. He would have paid more, most likely, but it happened suddendly, etc. I once read that they thought that area in there was in a good part of the Haynesville. I am also hoping for the Cotton Valley, Cotton Valley Lime, Bossier, Haynesville and Triassic. Have you heard anything about the Triassic? I heard and read where they found that and the Smackover up north just off 139 just past the big TE Plant on up past that big curve that goes to Fellowship Church. Hope it is true. I think my Dad was involved in the work that did Smackover and I may be wrong, but I think it was in Smackover . Ark. so it was named that. That was prior to my birth.

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