Replies to This Discussion

Permalink Reply by TGM on March 9, 2011 at 3:03

Any results yet from the Goodrich well in Etoile?

H. Nelson #1H

Drilling Permit#704108

RRC Operator No 314909

I have property nearby and have been asked to extend my lease agreement with Goodrich. I would like to see the results from the above well before I sign. If it is a good well, I should be able to get either a larger bonus or better than 1/5th royalties(or both!!!)

Permalink Reply by jffree1 on March 9, 2011 at 14:20

TGM, nothing is reported as yet.  I would expect Goodrich to issue a press release if the results are note worthy.

Permalink Reply by adubu on March 10, 2011 at 10:33

TGM---is your lease have a option to extent 2 years that Goodrich controlls or is your lease expiring and they want to release you therefore new lease for you to negotiate with them or whomever? Goodrich is good company and they do have expertise and finances to drill a H Shale well and that is what you want.

Permalink Reply by TGM on March 14, 2011 at 4:53

Adubu,

 

My lease is expiring. Still haven't seen any completion info on the H. Nelson well. I understand Goodrich is currently extending the H. Nelson pad for the drilling of the next well, the Lowery 1H. With the placement of the gathering line and the extension of the pad, my uneducated opinion is that they must be expecting positive results from this location.

Permalink Reply by jffree1 on March 15, 2011 at 11:15

Be watching for a press release.  It shouldn't be too long now.

Permalink Reply by adubu on March 15, 2011 at 11:48

TGM---remember your money is in the ground good lease terms more important than big bonus--- You want 25% royalty, royalty free gas/oil, all good pugh clauses including vertical depth clause, etc  read other post threads about leases on this site. Look at your prior lease and add or delete what you previous wish you had in it. If you have large amount of minerals > 10 acres have it reviewed by a good oil & gas attorney. Remember it's your minerals everything is negotiable.  

Permalink Reply by TGM on March 16, 2011 at 2:42

Definitely appreciate the advise!

Permalink Reply by J B Nabors on June 16, 2011 at 12:00

My family has property (and minerals) on the northern edge of Angelina County.  The property was leased, but the lease expired last week.  Goodrich has approached us to extend the lease--the family refused, because the old lease was standard boiler-plate.  We are currently negotiating a new lease with Goodrich.   If you are signing with them, be sure to ask for their "Addenda Page" of clauses.  

The initial offer was $500 / per acre for a two-year extension.   

Note:  Goodrich has already agreed to 1/4 royalty and "free royalty".   

 

We would like to know what other offers are being made before we commit.  

 

Permalink Reply by TGM on May 18, 2011 at 6:57

 

 

Angelina River Trend, Nacogdoches and Angelina Counties, Texas

The Company has completed its Nelson 1H (100% WI), at a 24-hour production rate of 12,400 Mcf of natural gas per day with 11,500 psi on a restricted 14/64 inch choke. The well has been producing for approximately two months and is currently producing 10,400 Mcf of natural gas per day. The Nelson 1H has a 4,860 foot lateral with 15 frac stages. The Company plans to drill one additional well in the field in 2011.

Permalink Reply by adubu on May 19, 2011 at 5:10

TGM---did your lease expire or did GDP renew your lease with better terms? Did you get in the unit if renew or place in before old lease expired?

Permalink Reply by TGM on May 25, 2011 at 6:10

I  turned it over to a O & G legal expert about a month ago and they are working with the landman. Last I heard, the landman had submitted to his legal counsel for review so nothing yet. I may end up being out a few $$$ in legal fees if they decide not to renew.

Permalink Reply by J B Nabors on June 16, 2011 at 12:03

I have difficulty figuring out where Texas wells are located (Louisiana uses a S-T-R system, which helps immensely.)  

 

Where is the Nelson 1H?

And the Lowery well?

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