Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on January 23, 2026 at 10:25

Magnetar appears to have a handful of Texas wells but there are many professionals experienced in drilling and completing horizontal wells.  Magnetar Capital appears to have the financial ability to hire as many as they may need.

Permalink Reply by Rock Man on January 23, 2026 at 13:58

Magnetar Operating may be "new" to many, but this group is doing some big time and very expensive drilling across a wide range of prospects and play types.

I would say that all these permits are tied to conventional reservoirs that are heavily based on seismic interpretation (and this may play into their focus on AI applications in the oilfield as per the Magnetar Capital website). 

The attached PDF shows their spread of 12 permits in both Texas and Louisiana (yellow icons) - permitted depths ranging from 10,500' to 19,500'

Presently running 4 rigs.

Magnetar%20Operating%20Permits%20and%20Rigs.pdf

Permalink Reply by Skip Peel - Mineral Consultant on January 23, 2026 at 14:18

Rock Man are the majority of those permits in the area of the Western Haynesville play?

Permalink Reply by Dale Walton on January 23, 2026 at 14:27

No, they are all over.  Several in SLA, one NLA, one Deep Hackberry in TX and one or more clandestine in the Western Haynesville.  Magnetar is run by the old SKH group for anyone old enough to remember them.  

Permalink Reply by Skip Peel - Mineral Consultant on January 23, 2026 at 14:31

The most concentrated area of the Magnetar wells is due north of College Station.  That is the Western Haynesville area.   And the area where I suspect the 19,500' permitted depth wells are located.  I am not referring to those outside of that concentration.

Permalink Reply by Rock Man on January 23, 2026 at 14:37

19,500' permitted well is South Louisiana - probably $3+ million dry hole cost

Permalink Reply by Rock Man on January 23, 2026 at 14:33

The permits in the Western Haynesville area are most likely Cotton Valley Lime Reef tests.

SKH - hard to forget them and their activities!!!

Permalink Reply by Skip Peel - Mineral Consultant on January 23, 2026 at 14:33

I do not see a pdf list of permitted locations.  Only the map with the well locations.

Permalink Reply by Ted Ward 5 hours ago

After almost 3 months of drilling well#255420 in south bienville,  latest scout report has the well status at 31. Does this  mean they are getting ready to plug and abandon?

Permalink Reply by Skip Peel - Mineral Consultant 5 hours ago

No.  Status 31 is "Shut-In; Future Utility".  This is the status that operators report after a well is drilled, the rig has been released and the well is waiting on a frack crew.  You can scroll to the bottom section of the SONRIS well file and look at Work Permits.  When the well gets an approval for the frack, it will be listed here.  The work permit is effective for a year but wells usually get fracked in the weeks immediately after the start date.  The frack timing is uncertain and the actual completion operations may take a week for a single well.  After the well is completed and turned to sales it may be some weeks before that is reported to the state.  Once reported it may be some months before first royalty is paid - 3 to 6 months.  Hope you get a good well, Ted.

Permalink Reply by Ted Ward 5 hours ago

Thanks a lot Skip! Man i have been in a deep dark depression here for the last hour or so. I typed the last scout report into A I and it said the well was being prepared for a P& A. I knew that some of you wizards of the Oil and Gas industry up there would be the finale word on this. Again thanks so much! By the way i might change my name to Jed

Permalink Reply by Skip Peel - Mineral Consultant 5 hours ago

AI slop and hallucinations are dangerous.  Especially when it comes to complex issues such as the O&G industry.  If you have questions concerning the industry and wells Do Not Use AI!  The response you got being a good example.

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