I’ve heard from the leasing agent for BP that our leased land has some noxious gas. BP isn’t willing to drill? Has anyone heard of this or knows what is going on? I have 36.54 acres on lease and know Southwest Petroleum wants to lease 5 acres not on BP lease? Help me to understand this. Is Southwest trying to buy BP leased acres plus the 5 additional acres?
BP lost their larger acreage opportunity to drill around Huntington a few months back but might be trying to buy isolated pieces. The gas which they did drill was hot and had levels of CO2 and H2S above pipeline specs. There maybe other entities in early 2020 which will want to acquire mineral rights in the area
Thank you OliverG does that mean our BP lease is terminated freeing up my 36 acres?
don’t think so. It was the Blackstone minerals they relinguished
Does anyone have an update/status of leases in Angelina County, Texas?
No positive news on leasing. Likely stagnant till commodity prices rise a bit . BP wont drill the Lacyville area (as they call it) till sometime in 2021 at the earliest