Replies to This Discussion

Permalink Reply by adubu on May 24, 2012 at 6:38

In today's market I would take this offer to the Bank especially with 25% royalty and shallow rights only which I assume you talking depth to maybe only to Cotton Valley. Your money is in ground possible oil play--- you want them to drill-drill-drill NOW.

Permalink Reply by j garrett on May 26, 2012 at 7:19

Agreed

Permalink Reply by Spring Branch,mineral owner on May 26, 2012 at 9:51

JR, I received the same offer from Cabot about a week ago in the Thomas A. Martin, A- 194 survey, just north of you.  The lease was depth restricted from the surface to the Pettet.  I personally think it is an attractive offer, but if EOG is willing to offer better terms, I'm willing to listen.  Let me hear if EOG makes an offer, please.

Permalink Reply by JR in VA on May 30, 2012 at 14:43

Spring Branch ...received $1250 offer, 1/4 royalty from an independent.  This will probably be the last offer.

Permalink Reply by JR in VA on May 26, 2012 at 12:59

Thanks to all -- additional comments still welcome.

Spring Branch, we are still waiting to have followup contact from EOG. The holiday weekend may be throwing things off.  I will update next week if we have additional offers to consider.

Permalink Reply by adubu on May 28, 2012 at 5:42

Cabot or EOG both great companies to lease with today for they both have the money to drill the wells!!!  Sounds like it's a Horizontal Pettet oil play. If good well they will have EUR of 100,000+/- BOE That's very commerial ROE to drill these relative shallow wells especially with oil >$90

Permalink Reply by Benedumtreesoilwell on May 28, 2012 at 6:55

Devon is going for James Lime oil currently.  Apparently there is oil in the Pettit formation as well due to their lease agreements stating the bottom of the Pettit formation.  Looking at quite a few wells in existing units east of San Augustine as well at approximately 10 to 20 new units traveling east into sabine county.

Permalink Reply by JAMES E. HIGGINS on October 22, 2012 at 13:22

i wish eagle oil would do something on our property east  of  san ay ugustine been there 3yrs and   they have not even tried to do any thing and our lease rundm s out with them in 2013 we will most likely go with somrbody else.  j.h.