Fairway hazard

http://www.shreveporttimes.com/article/20090928/NEWS01/909280310/10...

PHK said this is a property they definitely would not drill in the foreseeable future. They paid 1.85 million for 127 acres, why would they not have a plan to drill?

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Permalink Reply by Grillin' - MmmMmm on September 28, 2009 at 2:56
They gots lots more to drill on! This has a couple of years to run. They "only" paid $14,567/acre for this plot. They paid a lot more for other areas! And maybe they like hitting balls!
Permalink Reply by Spring Branch,mineral owner on September 28, 2009 at 3:02
They apparently bought the 127 acres in fee. Or do you think they bought the surface only and have a lease on the minerals???
Permalink Reply by The_Baron on September 28, 2009 at 3:17
it would be a good place for the company picnic.
Permalink Reply by The_Baron on September 28, 2009 at 3:14
This is old news. About time the Times picked up on this story.

You will see more of this as CHK and HK aquire property for urban drillsites. The delay is probally how long it will take them to lease enough townlots to make it worthwhile.
Permalink Reply by The_Baron on September 28, 2009 at 3:32
Also as per the deed (book 4240,page 545), this sale is subject to an existing mineral servitude.

Permalink Reply by sesport on September 29, 2009 at 16:54
ha, ha, ha Evil O&G becomes Greedy Landowners.
Permalink Reply by Grillin' - MmmMmm on September 30, 2009 at 1:40
Aubrey's not much of a golfer; he's a swimmer! Look for a large swimming pool soon!
Permalink Reply by The_Baron on September 30, 2009 at 2:53
not really. They don't own the minerals. Its all about securing future drillsites.
Permalink Reply by The_Baron on September 30, 2009 at 2:55
Never know, it could be for a compressor station too.[
Permalink Reply by sesport on September 30, 2009 at 12:14
I know, guys, the thought just tickled me. Actually, since it involves wetlands, I could have poked fun at how someone sold them some swampland.

Mmmarkkk, are you thinking Petrohawk will lease the surface to Chesapeake? Wonder if they'll sign the standard Bath contract?

Okay, okay, I'll quit! lol :0)
Permalink Reply by Les Bamburg on September 30, 2009 at 10:12
Catfish, since it is only 127 acres Petrohawk may be able to hold this acreage by placing the well surface locations on other acreage in the unit(s).
Permalink Reply by The_Baron on October 1, 2009 at 3:17
This may already be held by the hamle lease. I have not seen the lease and do not know if there is a horizontal pugh.

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