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Permalink Reply by Skip Peel - Mineral Consultant on July 12, 2023 at 11:55

Aethon has maintained 4 or 5 Angelina rigs throughout this year although there have been short term drops to 3.  Since there have been few discussions about current Angelina activity, the better place for this discussion is the Angelina County Group.  All 86 group members will get a notice email when you post in that sub-group.  If you don't get any replies here Spring, I suggest you try that.

https://gohaynesvilleshale.com/group/angelinacounty

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Permalink Reply by EastTexasFarmer on July 14, 2023 at 14:02

Aethon is currently leasing mineral acreage in the B. Mitchell Survey (A-435), the W. Mitchell Survey (A-438), the JH Sparks Survey (A-552), and the JR Crofton Survey (A-149 and also referenced as “Crafton” for some reason). Black Stone Minerals owns a substantial mineral position within these surveys. This area is near the "Moffitt" area. To my knowledge, no recent permits have been filed in these areas. This information is public and can be reviewed in the Texas Land Records database.

The above referenced leasing areas are west of the Laceyville Field AMI (area of interest) that Aethon is currently developing jointly with Black Stone Minerals (with the current 5 rigs). Multiple new infill drill permits have been filed for the Apato, Brachi, Bronto, Dracorex, TTops and Rainer units, with allocation permits filed for the Brachi – Saber and the Velo – ACLCO Hay units. Aethon continues leasing in the Laceyville Field AMI and the “Mountains” development area (Huntington area). Again public knowledge gained from the TXRRC.

Hope this helps. This information is offered for reference only.

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Permalink Reply by Spring Branch,mineral owner on July 20, 2023 at 6:18

Much thanks, ETF.  You have been extremely helpful.  At current gas price, it doesn't hurt my feelings if they put off developing my acreage for a while!

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Permalink Reply by EastTexasFarmer on July 20, 2023 at 11:04

This is my opinion, but I'm assuming that Aethon's focus will be on holding their core leaseholds (since many of the Laceyville Field's Haynesville / Bossier legacy wells are near depletion) and implementing DUC drilling that will be brought to sales late this year and next (when the market has improved and new LNG capacity has come online). Good luck with your mineral lease.

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Permalink Reply by Spring Branch,mineral owner on July 24, 2023 at 8:46

One last question if you don't mind, ETF.  Can I assume Aethon's development of the Laceyville Field AMI consists of the drilling of both Haynesville and Bossier wells?  If so, is that their established development pattern, and how do the EUR's of the two zones compare in your opinion?

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Permalink Reply by Rock Man on July 25, 2023 at 5:21

One would have to do some major digging to determine the comparable EURs for the two intervals in this area, but one should keep in mind that there is no need to drill the shallower Bossier if one has the deeper Haynesville section drilled and producing.

Keeping the Bossier HBP for future drilling / production is a smart warehousing move by any operator.

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Permalink Reply by EastTexasFarmer on July 31, 2023 at 1:46

Looking at Aethon's recent permits, the answer to your first question is generally yes. I think you will need specific knowledge to answer the second question, and that is location specific. I'm no geologist, but it's my understanding that this reservoir is heterogeneous, with highly brittle shale that can be difficult to drill / frack. I agree with Rock Man's response.

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Permalink Reply by Phil Sartin on August 18, 2023 at 3:53

After locating the survey you mentioned, the Gasosaurus well is the closest well to the subject survey and I see no permitted locations nearby.

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