Mineral Rights Forum

America’s conversation place for mineral owners

Live Oak County, TX - Oil & Gas Discussion

Information

Live Oak County, TX - Oil & Gas Discussion

Oil & gas discussion group for those interested in Live Oak County, TX. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.

Website: http://www.eaglefordshale.com/counties/eagle-ford-shale-live-oak-county-tx
Members: 71
Latest Activity: Aug 2

Discussion Forum

Live Oak County TX Oil & Gas Permits

Started by Dave Thompson. Last reply by Clint Liles Dec 19, 2016. 248 Replies

Post, discuss and share information related to Live Oak County Oil & Gas permits in the replies below.Thank you to Clint Liles for championing the effort to keep us all up to date.Continue

New lease rates?

Started by Jan York Oct 1, 2015. 0 Replies

I have a very small amount of acreage in Richard Everett Survey, A-7 that a company is wanting to lease.  What is the going rate now per acre and royalty interest?Also, I've heard horror stories of…Continue

EagleFordShale.com News

Sanchez Reduces Spending and Drilling for 2018

Sanchez Energy Q2

Sanchez Energy is making plans for 2018 that include redicing drilling activity and cutting spending by $75 million to $100 million.

Sanchez Gains Eagle Ford Assets for $2.1 Billion

Sanchez reported its second quarter results last week that included increased revenues and a net income of $46.3 million, up from $9.7 million during the first quarter of 2017.

The Company achieved record production from its Comanche area in Dimmit, LaSalle and Webb Counties. The acquisition of the Comanche assets in March was instrumental in these record production levels.

In July 2017 we announced our intention to reduce our 2018 capital spending by approximately $75 million to $100 million, compared to our original $500 million guidance. This reduction in capital spending, together with our strong liquidity position and bank of 30 wells against our 2017-18 Catarina drilling commitment, provides us with a considerable amount of financial and operating flexibility as we look to execute our plans over the next 12 to 18 months, and drive shareholder value.
— Tony Sanchez, III, Chief Executive Officer

Q2 Highlights

Sanchez is currently running seven gross rigs in the Eagle Ford; five in Comanche and two in Catarina. Other second quarter highligts include:

  • Company revenues jumped 58% over last year at this time to approximately $175.7 million
  • Production totaled approximately 73,341 barrels of oil equivalent per day ("Boe/d"), an increase of approximately 43% over first quarter 2017 production
  • Company spud 48 gross wells and completed and turned on-line 63 gross wells
  • $3.9 million per well
  • Catarina experienced a reduction of approximately 4000 barrels of oil equivalent per day in 2017. Earlier this year, we made the move to shift Catarina completions to our Gen 3 design, using approximately 3000 pounds per foot of profit. The 25 wells have positive early indications with respect to pressures in rates, but saw a higher water production and the subsequent decline was dramatically steeper than anything we've seen previously.
Read ore at sanchezenergycorp.com

Eagle Ford Shale Rig Count Flat at 89

Eagle Ford Rig Count

The Eagle Ford Shale rig count remained flat this week with 89 rigs running across our coverage area by midday Friday. 

In recent Eagle Ford Shale news, Lonestar Resources is hitting a stride for growth after its recent Eagle Ford acquisitions.

Lonestar's New Eagle Ford Assets Play Significant Role in Growth

A total of 946 oil and gas rigs were running across the United States this week, three less than last week. 182 rigs targeted natural gas (one more than the previous week) and 763 were targeting oil in the U.S. (five less than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 459 of the rigs active in the U.S. were running in Texas.

Baker Hughes reports its own Eagle Ford Rig Count that covers the 14 core counties. The rig count published on EagleFordShale.com includes a 30 county area impacted by Eagle Ford development. A full list of the counties included can be found in the table below.

Eagle Ford Oil & Gas Rigs

Eight rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $2.89/mmbtu.

81 Eagle Ford rigs were targeting oil with WTI oil prices at $48.51.

A total of 86 rigs are drilling horizontal wells, zero are drilling directional wells and three are vertical.

Karnes County leads activity in the region with 18 rigs in production. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

Eagle For Rig Count by County-August 19, 2017

Eagle For Rig Count by County-August 19, 2017

 

Eagle Ford Shale News

Lonestar's New Eagle Ford Assets Play Significant Role in Growth

RRC Doubles Original Drilling Permits for June 2017

Penn Virginia Increases Eagle Ford Acreage & Drilling

What is the Rig Count?

The Eagle Ford Shale Rig Count is an index of the total number of oil & gas drilling rigs running across a 30 county area in South Texas. The South Texas rigs referred to in this article are for ALL drilling reported by Baker Hughes and not solely wells targeting the Eagle Ford formation. All land rigs and onshore rig data shown here are based upon industry estimates provided by the Baker Hughes Rig Count.

Lonestar's New Eagle Ford Assets Play Significant Role in Growth

Lonestar Resources Q2 2017

Lonestar Resources is hitting a stride for growth after its recent Eagle Ford acquisitions.

Lonestar Increases Eagle Ford Holdings in 'Transformational' Deal

Lonestar reported its second quarter financial and operational results earlier this month where company executives said they expect to accelerate drilling activity on the 30,210 acres they purchased in June. 

On June 15, we closed a pair major Eagle Ford Shale acquisitions in the quarter that scaled the company significantly in terms of EBITDAX, reserves, and production. After post closing adjustments, Lonestar paid total consideration of $90 million in cash and approximately 2.7 million shares of Lonestar series B preferred stock.
— Frank Bracken - CEO

During an earnings call, the CEO shared about the company's '10 and 100' plan to maximize the new assets. The plan would generate production in excess of 10,000 BOE a day and EBITDAX in excess of $100 million in 2018. Based on current trends, if the company continues to drill the same kind of wells on its core properties, they will be successful.

Second Quarter Highlights

  • 7% sequential increase in net oil and gas production
  • Production volumes consisted of 3,564 barrels of oil per day and 6,402 Mcf of natural gas per day
  • Placed 1.0 gross / 0.5 net wells onstream
  • Increased operating cost structure

In June, Lonestar closed on the purchase of 30,210 gross acres in the Eagle Ford Shale region of south Texas. The $116.6 million deal included properties in Karnes, Gonzales, DeWitt, Lavaca and Fayette Counties.

After this new purchase, Lonestar has 72,244 gross acres located in the Eagle Ford. These assets will be foundati0olnal to the company's growth over the next four years.

Comment Wall

Comment

You need to be a member of Live Oak County, TX - Oil & Gas Discussion to add comments!

Comment by Jan York on October 1, 2015 at 8:26am

I have been offered $300/acre with a 20% royalty, which seems low.  This offer was made first part of September 2015.

Comment by Timothy Terry on September 10, 2014 at 3:46pm

Hello...I am looking to lease and/or buy 5-10 acres of land, preferably off a major highway or county road for the purpose of possibly obtaining a permit for a saltwater disposal well.  Three (3) phase nearby would be a huge plus.  Please text/call Tim Terry at 512-791-2499

Comment by Beverly Anderson on August 17, 2014 at 9:12am

We have received a new lease offer for 282 acres in the John Turner Survey A-38, A19 area under the reservoir.  This is our second lease and I am wondering what negotiation rates are currently.  It's been awhile since our last and I am wondering if we can counter?  Feel free to respond or email me directly at bevanderson88@gmail.com.  Any advice or assistance is appreciated.

Comment by Timothy Terry on February 20, 2014 at 8:07pm
Hello, my name is Tim Terry and I'm looking for 5-10 acres to possibly have an swd built on the property. Preferably to buy the land, but may be open to a conversation about leasing. Please call/text me at 512-791-2499. Looking around three rivers/whitsett area. Thanks.
Comment by Richard DeLeon on December 10, 2013 at 2:07pm

We've been approached to lease our 480 acres for oil & gas.  I'd like to know what others were able to negotiate.  Feel free to respond here, or email me directly if you prefer not to provide details in the open.  Thank you.  rdeleon@utsystem.edu

Comment by Tommy Dunlavy on October 14, 2013 at 4:03pm
I was wonder if anybody has heard of any activity around Calihan State Park. Also if anybody has heard of any seismographic in the water of Choke Canyon
Comment by Kammi Kothmann on October 26, 2012 at 9:37pm

That Seitel sure gets around.

Comment by Kammi Kothmann on October 26, 2012 at 9:35pm

 we leased to TexStar actually very happy with them, did a hell of a job and didn't go through Hindes San Miguel after all.Kool!

Comment by Reid Dickard on July 6, 2012 at 10:05pm

Thanks so much for the information.  We are beginning negotiations with the

company and the $35 per linear foot gives us a starting place.

Comment by Andy Lark on July 6, 2012 at 9:25pm

$35/linear foot sounds about right -- we'd accepted $30 for a 12" line about a year ago, not including the company's re-seeding, etc. obligations.  

 

Members (71)


Pro
 
 
 


© 2017   Created by Kenny DuBose.   Powered by

Badges  |  Report an Issue  |  Terms of Service