Replies to This Discussion

Permalink Reply by Ben Elmore on June 29, 2012 at 4:55

Yes.  They are wanting to lease the shallower rights to go after liquids.  They will agree to limit the lease to those depths from the surface to the base of the Pettit formation at 8,470 feet.  They will agree to 25% royalty, 3 year term and a bonus of between $1000 and $1500. 

Permalink Reply by Shari Ziviski on June 29, 2012 at 5:06

is anyone taking this offer or are you waiting for something more from natural gas...they offered 500 an acre with 20% royalty for 3 year lease top me.

 

Permalink Reply by Ben Elmore on June 29, 2012 at 5:13

Yes people are taking the offer.  They can come back and lease the deep/Haynesville/Bossier.

Permalink Reply by Shari Ziviski on June 29, 2012 at 5:39

you mean that if you give your rights to Devon you are still able to lease the deep rights to some other company?

Permalink Reply by Ben Elmore on June 29, 2012 at 6:37

Yes, because the lease to Devon is limited to certain depths.

Permalink Reply by GoRicky on July 24, 2012 at 10:07

Ben, what depths are we talking about - 5,000? 10,000' ??? - Thanks

Permalink Reply by Ben Elmore on July 24, 2012 at 10:10

"surface down to and including 100 feet below the stratigraphic equivalent of the base of the Pettet formation, being approximately 8,470 feet subsurface, as shown on the electrical logs dated June 1, 2010 ran in the Halbert #1 Unit Well (API 42-405-30343), and specifically does not include any portion of the Bossier Sand or Haynesville Shale Zone.

Permalink Reply by GoRicky on July 24, 2012 at 16:56

'Preciate it!

Permalink Reply by Spring Branch,mineral owner on June 29, 2012 at 5:06

Can you say what survey you're in?

Permalink Reply by Shari Ziviski on June 29, 2012 at 5:10

i don't know...i am south of state road 103 and west of 87...

Permalink Reply by GoRicky on June 29, 2012 at 14:44

I have some ownership down there in Sabine County.  It's confusing because I didn't know this was a Sabine County site.  Anyway, where are they leaseing? Is it around Milam?  Thank you -

 

Permalink Reply by Fred W. Smith on June 30, 2012 at 4:17

I think this area is around the Rosevine community.  From what I have heard in SA county, they are working from the Ford's Corner community on Hwy 21 south thru the Rosevine area.  But this could be a new project by Devon besides that one.

 

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