Replies to This Discussion

Permalink Reply by Taylor on July 31, 2009 at 15:07

Who is Pin Oak leasing for? If its Beusa, RUN, DON'T WALK!

Permalink Reply by Skip Peel - Mineral Consultant on July 31, 2009 at 15:12

Taylor. I don't think we've discussed BEUSA (Bridas Energy USA) previously. Now may be a good time. Do you have any information you might care to share?

Permalink Reply by Taylor on July 31, 2009 at 15:44

The things I have heard are not good. You might want to ask Snake for more details.

The Bridas website has been "under construction" for over a year. If they can't get a website up and running, what the heck are they gonna do with a rig?

Permalink Reply by Skip Peel - Mineral Consultant on July 31, 2009 at 16:09

I know they have completed a number of HA verticals and had some HA well permits expire. However they are beginning to drill horizontals and should have several completions to announce in the near future. BEUSA is similar to a number of smaller operators with HA drilling units. They were in the right place at the right time as they had leasehold being developed for CV and Hosston production that was prospective for the HS. The bulk of their HA development is not in the Lake Bistineau area. They may turn out to be a reasonably capable HA operator. At least they are making an effort to gain experience in horizontal completions. The jury is still out.

Permalink Reply by Taylor on August 1, 2009 at 4:53

The jury might still be out, but I hope folks will not jump for 1500 an acre with BEUSA, especially for them to HBP with a vertical. People around here are noticing how they are dragging their feet with a particular pad.

Permalink Reply by Skip Peel - Mineral Consultant on August 1, 2009 at 7:41

Not jumping on $1500 is a reasonable suggestion, whether it's BEUSA or any other operator. The fact is, whether you lease with them or not, you could very well end up in a BEUSA operated unit. And the fact that are making the attempt to drill horizontals puts them ahead of about two dozen other smaller companies in the Play. I suggest allowing the benefit of the doubt until they start announcing horizontal completions. The same negative assumptions were made by some about EXCO and Questar before they started completing their first horizontals. Now they are both on Les's Top 20 list.

Permalink Reply by Taylor on August 1, 2009 at 12:02

I hope you are right, some people are stuck with them. We shall see.

Permalink Reply by Checkmateking on August 1, 2009 at 5:03

Stay away from Pin Oak Operating at all costs. They are Notorious flippers, just wait for the big boys to come to you.

Permalink Reply by Taylor on August 1, 2009 at 5:12

Sound advice Checkmateing; hope folks will take it. Although, pretty boy has some great loafers.

Permalink Reply by Checkmateking on August 1, 2009 at 15:00

I hope everyone will take it as well. That is all I will say on the matter.

Permalink Reply by Neil on August 3, 2009 at 10:05

What proof do you have? How would they "flip" a lease if it was taken in BEUSA's name?

Permalink Reply by Checkmateking on August 6, 2009 at 8:09

If you wanna lease to Pin Oak go right ahead, it won't affect me one way or the other.

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