landowner

Devon

We had leased a few tracts to Devon over the last eight months in the Karnack area. They were running four to six rigs and the rig count has now dropped to zero. I contacted the landman who worked with us and he told me Devon has pulled out of the area and their budget for 2013 in Harrison County is zero. He shared some other information that indicates unfortunately the cotton valley liquids play did not "pan out" the way Devon had hoped.

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landownerPermalink Reply by lsauci2 on September 11, 2012 at 5:13

We have a few tracts under Devon and the royalties are dwindling - so much that we receive a check every few months now.

Thanks for the info.

Permalink Reply by Thomas C. McKowen, IV on September 11, 2012 at 7:57

We were negotiating with Devon on a tract to the east of Karnack.  About a month ago, the landman told us Devon was no longer interested.  Is anyone else taking leases in the area?

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