# British Petroleum Leasing S of Huntington
**URL:** https://www.mineralrightsforum.com/t/british-petroleum-leasing-s-of-huntington/43806
**Category:** Angelina County, TX
**Created:** [March 30, 2019, 2:28am UTC](https://www.mineralrightsforum.com/t/british-petroleum-leasing-s-of-huntington/43806 "2019-03-30T02:28:17Z")
**Posts on this page:** 9
**Page:** 1
### Author:  [@SunnyOne](https://www.mineralrightsforum.com/u/SunnyOne)
#### Post date: [March 30, 2019, 2:28am UTC](https://www.mineralrightsforum.com/t/british-petroleum-leasing-s-of-huntington/43806/1 "2019-03-30T02:28:17Z")
British Petroleum, via landman from NAC, offered $350/acre and 1/5 royalty and five years in Stanley Survey Southeast of Huntington. After I let him know it wasn’t my first rodeo, he increased offer to $500/acre.
Five years is too long for a lease. They need to get in and drill or forget about it. Three years should be lease term.
I know there is oil and lignite coal in this area and am not inclined to lease at that rate. I’ve got oil leases in other counties for that much per acre.
Landman trying to rush the lease, says BP is only game in town and if I don’t go with them, then I’ll never see my property leased.
Anyone interested in forming a group to discuss this - maybe meet for coffee once a week? My friends did this in Louisiana and formed a coalition and ended up getting $20k/acre lease.
Any comments?
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### Author:  [@blackgoz](https://www.mineralrightsforum.com/u/blackgoz)
#### Post date: [May 13, 2019, 11:25pm UTC](https://www.mineralrightsforum.com/t/british-petroleum-leasing-s-of-huntington/43806/2 "2019-05-13T23:25:47Z")
Hey Sunny, I’m a little north of you. Do you have the contact info for this landman? I got a non-BP offer if you’re interested.
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### Author:  [@OliverG](https://www.mineralrightsforum.com/u/OliverG)
#### Post date: [November 5, 2019, 7:56pm UTC](https://www.mineralrightsforum.com/t/british-petroleum-leasing-s-of-huntington/43806/3 "2019-11-05T19:56:07Z")
As you may now know, BP is out in the area around Huntington. A new operator will likely be in place in 2020.
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### Author:  [@blackgoz](https://www.mineralrightsforum.com/u/blackgoz)
#### Post date: [November 5, 2019, 9:19pm UTC](https://www.mineralrightsforum.com/t/british-petroleum-leasing-s-of-huntington/43806/4 "2019-11-05T21:19:38Z")
Yes, we got a letter BP exploration project is cancelled.
Wonder who’s next, heard it’s a 640-acre lease, should get together on the next one.
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### Author:  [@david1](https://www.mineralrightsforum.com/u/david1)
#### Post date: [November 12, 2019, 11:07pm UTC](https://www.mineralrightsforum.com/t/british-petroleum-leasing-s-of-huntington/43806/5 "2019-11-12T23:07:48Z")
I didn’t receive a letter from BP. Can I find a copy on the internet?
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### Author:  [@blackgoz](https://www.mineralrightsforum.com/u/blackgoz)
#### Post date: [November 13, 2019, 4:06am UTC](https://www.mineralrightsforum.com/t/british-petroleum-leasing-s-of-huntington/43806/6 "2019-11-13T04:06:05Z")
Not sure, but it basically said the exploration project was cancelled. I also think someone will fill their shoes. The gas pressure is crazy high here.
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### Author:  [@david1](https://www.mineralrightsforum.com/u/david1)
#### Post date: [November 13, 2019, 11:56am UTC](https://www.mineralrightsforum.com/t/british-petroleum-leasing-s-of-huntington/43806/7 "2019-11-13T11:56:10Z")
Thank you, I sure haven’t received any communication from them.
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### Author:  [@OliverG](https://www.mineralrightsforum.com/u/OliverG)
#### Post date: [November 13, 2019, 1:48pm UTC](https://www.mineralrightsforum.com/t/british-petroleum-leasing-s-of-huntington/43806/8 "2019-11-13T13:48:06Z")
BP did not leave due to lack of rock quality but for other reasons. My guess is whoever replaces them will be well capitalized to develop the area. In the meantime, gas prices are really weak, so minerals remaining in the ground may be best to the ultimate PV of the play.
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### Author:  [@Forum\_Administrator](https://www.mineralrightsforum.com/u/Forum_Administrator)
#### Post date: [January 9, 2025, 3:33pm UTC](https://www.mineralrightsforum.com/t/british-petroleum-leasing-s-of-huntington/43806/9 "2025-01-09T15:33:24Z")