We were approached by a land man over a year ago and signed leases for acreage (thousands of acres) in the Black Warrior region of AL. These leases were not picked up after the initial term expired (one year later). Meanwhile, it's clear that there is a lot of activity (exploration, actual production, and leasing) going on in and around Alabama and specifically the Black Warrior.
Word was the initial lessee could not partner up and sell the leases within the one year period.
Does anybody have any anecdotal information on what's going on on the ground in northwest AL currently?