Does anyone know about an ET Energy Partners leasing in this area? Nineveh area- A1176 SM Morrison
They say they represent an oil company that will drill but haven’t yet in Leon County. They are interested in 8 Abstracts around that area. Looks like Comstock is quite a distance from this.
What is the going lease bonus offer, royalty rates and term in that area?
Haven’t seen anything about ET Energy Partners (Is the full name East Texas Energy Partners, or is it ET Energy Partners?).
However, your survey is on the southeastern edge of Comstock’s leasing area. In fact, they have leased 171 acres in the GW Wright A-935 Survey which adjoins your survey on the south side.
Wow Alan! All I was given on phone was ET Energy Partners LLC. But Landman said the company he is representing has not drilled in Leon County yet. Unless he is trying to hide that fact and it could be Comstock. Any idea on that East Side what people are getting for leases?
I think it’s unlikely that ET Energy Partners is representing Comstock. It’s more likely to be another E&P company looking to get into the Lower Bossier/Haynesville deep gas play. Could be Mitsui, currently drilling their first well east of Buffalo, could be the entity leasing in Houston and Anderson Counties via Drake Exploration (best guess is Expand, formerly Chesapeake), or it could be a new player.
I know some folks were getting 25% cost-free royalties in parts of Leon, but I have no specific info on your area.
Thanks for all the great information Alan! I appreciate it! Hope you and yours have a wonderful Holiday!
I was speaking with a landman from Comstock 2-3 weeks ago. By other posts, they’ve been buying deep rights from many. He advised me that they bought all of Hilcorp’s deep right leases.
I can’t remember if he said 465,000, or 645,000 acres that at that time they currently had in Leon County, alone.
I imagine we’re going to be seeing a lot of rigs going up and down for some time.
Comstock has leased a lot of acreage in Leon County, but not that much…the county contains about 692,000 acres in total. They reported in their last earning call that their Western Haynesville holdings had reached 518,000 net acres, but that includes substantial acreage in Robertson and Freestone Counties, plus a little in Anderson and maybe Limestone. In addition, Mitsui has around 50,000 acres in Leon and Freestone.
It is true that they have acquired much of their acreage via deals in which they acquired deep rights from companies that had substantial Held By Production acreage. Comstock reported that 80% of the 518,000 net acres is currently HBP.
It’s definitely true that Comstock has plenty of potential drill sites for quite a few years to come!
A new large Pipe Yard is to be built in the Oakwood area. There is a large pipeline right of way with 3 separate pipelines just East of Oakwood. The three pipeline right of way can be easily seen on Google Earth.