That makes more sense. As far as I know, none of the major players are not paying that much yet. At least not in West Feliciana and Wilkinson.
Attached is a map that I generated to show the activity of the play at the present (This is only my interpretation). The AC/TMS plays are colliding in West Feliciana. I know Anadarko are taking AC leases in WF. I would not be suprised if one of Devons next wells will be in N 1/2 of WF and then another in the S 1/2 of ST. Helena. They tend to test along strike and dip (not a bad concept).
Personally I think Encana is playing the hand they were dealt. They are strengthing their postion to the SW, rumors are abound that they are looking to potentially unload acreage to the NE. This is possibly due to lower reservoir pressure and lower oil viscosity (potentially fringe acreage).
What to say about Indigos postion in Rapides and Vernon. They believe they are in a great position with higher calcium content in the reservoir (better fracability) and less clay then to the east. They are also much shallower (lower pressure) and have alot lower resistivity profile. I think they already had a vast majority of the acreage tied up through a very large timber company, and that is why they are testing this fringe acreage (they have no acreage cost basis).
What is fringe acreage = wells with EUR's (Est. Ultimate Recoveries) 250,000BO or less
Wells back to the east with higher reservoir pressures wil possibly have EUR's > 500,000 BO
This information is mixed with facts and interpretations, by no means am I pretending to know it all. This is just how I see the play now.
If you have any additional comments or insight please let me know. This is intented to be a tool that we can build off of.