Everything seems to be VERY tight lipped on this well.  Location is very well secured.  Anyone know whats going on?

 

 

 

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thans dbob..I may have gotten some bad info.

Bosco - still trying to dig - I do have a eliable report of lots of truck traffic into the area 2-3 weeks ago, just nothing in the last week. there also could have been traffic and they missed it.
Bosco, all - Person with a better view confirms Haliburton trucks going to/from the area on a daily basis.  No other news.
I see where XTO (Exxon) is taking leases in western trinity county. Does anyone know about this or what they are paying per acre?

I was recently offered an intitial bid of 250 per acre and 1/8 royalty from txo. Anyone know of better offers from txo, other offers or companies looking for leases here?

Jeff - TXO?

How many year term?

Yes, TXO. 3 year term with 2 year option.

Jeff

I'm not involved in leasing, nor do I know current offers in the area.  However, IMHO, the term is too long for such a low royalty and bonus payment.  If they will give a depth clause (say, nothing below 4000') I might be tempted.  However, depending on where you are in the county, you have a good potential for shallow oil (Carrizo/Wilcox) intermediate depth multi-zone (Dexter, Woodbine, Glenrose, Buda) and/or deep Bossier

I'd push for something closer to 20-25% if there isn't a depth clause.  

yes, I have already decided not to accept the initial offer. I have been speaking with an OG attorney and have a page of addendums to be added to the contract when I counter offer. Also, shopping my rights to other companies in the area. Everyone I talk to tells me TXO offers are the smallest, so I am being patient. And yes, I have been advised not to accept less than 20%.

I have no plans to accept the initial offer, and have consulted with an OG atty who has added several addendums to their initial proposal. I have also been advised that TXO typically offers much less than other companies in the area, so I am being patient and shopping the mineral rights. And, Yes, I have been advised by my OG attorney to accept no less than 20%. Thanks for your insight.

Bosco,

I haven't heard anything on the Leor well in the last several days- do you have anything?

Bosco, All

 

Leor filed a well record only with the RCT indicating the well is a shut-in producer.  Completion date is listed as 9/27/2011

http://webapps.rrc.state.tx.us/CMPL/publicSearchAction.do?formData....

 

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