We had a lease with Marlin Energy that was signed 2013 and renewed 2016 for 2 years.
The lease expired 2-18-18
We just heard back from them and they are not going to renew.
Does anyone out there in O&G Land know of any companies that would be interested in leasing our land? They are drilling all around us.
Do you know which company they were leasing for?
I would assume you would get a notice indicating who they turned the leases to (assignment).
Ironrock Webb are not operators
He was leasing on behalf of Verdun Oil
Great! Thanks for that info.
EnCap is their private equity provider. Strong management team with lots of unconventional horizontal drilling experience in past companies.
I looked up your area on DrillingInfo.com - very poor area for Eagle Ford / too far north and in an area with heavier oil and lower reservoir energy.
Multiple operators have drilled in this part of the trend (basically north of the line that runs SW to NE through Giddings) with less than economic success. New Century and Silver Tusk have sub economic wells (horizontals) located NW of your survey while Marlin's horizontal directly offsetting your survey is at best an "OK" well. 6000' lateral that has made about 94 MBO & 28 MMCF today - recent month on file (Dec 2017) shows a production increase to about 4300 BO & 890 MCF for the month.
Projected reserves here below the production thresholds to make money assuming a $6-7 Million well.
Definite reason why Marlin did not renew your lease.
Horizontal targets in this area have included the Buda and Austin Chalk along with the Eagle Ford. All the older wells around your survey are shallow vertical wells (around 4000') in an old field area that has been pretty well played out.
Not trying to be negative - just the reality of the oil field.
thanks for the info.
ANY info is good info. I guess if anyone is interested they will come to us?
They will find you if they have an idea they like in your area. Or a different approach that they think will work where others "failed".