05N 01W, McClainCo.?

We have quite a few interests in this area. Anyone know what’s going on? I was speaking with Capstone about a lease a while back, then all discussion ceased. I heard through the grapevine that BP ordered a cease and desist and has purchased all of Charter Oaks current Leases in the area. We have some that expired w/in the last year. I’ve been getting offer after offer to sell, but not much more than that. Anyone have any news?

It looks like BP is starting to get its ducks in a row in that area. They have several cases pending at the OCC. Any time you get multiple offers to sell, someone usually knows something or is speculating. I am hanging onto my acreage in the area. Horizontal wells are coming.

Did BP purchase all of Charter Oak’s interests in McClain county?

Quite a bit of it. Not sure if it was all.

Do you have any up to date information in this area?

Depends upon the section. BP is starting to permit wells.