This is what My Guy had to say:
It’s binding on the seller regardless of filing. It’s not binding on a third party bona fide purchaser for value until it’s filed of record. No timeframe required, so it’s ASAP if you don’t trust your seller.
Thanks for the info on lease recordings…I was going to call my lawyer, but everytime I call I get a bill a week later…
Don’t tempt me into a lawyer joke contest. All business around here!
But seriously folks… Acaval assigned all of their leases to Peregrine Petroleum Partners LTD and AHW Petroleum Inc filed 101023.
AHW is Alinda HUNT Wikert. Google her. A very interesting person.
Sorry, Alinda’s maiden name is actually Hill but she’s still a granddaughter of THE H.L. Hunt.
Mr ML, you said a few posts back that news you had would make some people very happy and some not so happy. Can I conclude from your recent post that folks west of 957 will be happy and those north of 532 will not?
For those of you interested in Baytex I did receive some kinda sorta updated info today….not really news to us but Fly Wheel Energy took over Baytex drilling operations in the US a couple of weeks ago. They have committed to complete the wells that Baytex had started/permitted….but no other announcements have been made. I have tracts that were in a plan….but have now been officially told that it is no longer happening…. I’ll try to get an update in a couple of weeks…
Looks like the next 4 unit 1 pad EOG location will be just south of the Francis pad off CR 312.
I believe they should be starting this pad like now, to be ready by 2/15 to take the rig. I guess the permits will come in a couple of weeks…we have to wait and see…plus they can always change things…as they do so often….
That well almost answer my info. Just heard EOG leased land in December not sure what survey further south of CR312 around Mustang Hall off 77A. That was for 1200 an acre.
Another bit of info capital star must be having same problem as monster rock. Was by there yesterday had a rework rig putting tubing down #2 lateral. Thats off fm318 Mont area.
Just wanted to say thank you for giving all of us so much information in the area. Much appreciated!!
Update to EOG next pad…the Cr 312 right before Rocky Creek might not be the next pad constructed….If you can believe it there are still mineral holdouts in almost all of the units not yet permitted. some of these areas saw offers of $3,000-$5,000/ acre about 10-15 years ago…and that is what they want….along with 25% royalty.
So, not sure if CR312 will be next, it is right next to the Copano pipeline that EOG loves to be next to….…. the other pad site contenders are CR 240, CR 244A , Cr195, Cr 183, CR178/179, Fm 340 at the curve, and FM 1295 north of the river…and also just to the west of the gas plant….or will they also put a pad there on site ?? Blackshear pad is now up for negotiation to put southern units on it….but could go either way, was a definite “no”, now a “maybe” …..landowner situation. Some other activity “marked” along CR 195 by the river…but heard this was a vertical by another company. It is to far north to be the next EOG pad on Cr 195.
There is actual “talk” of doing the southern Pecan pad unit south of Reimers, but this will not be attempted until at least 2 months after Flowback. Reason given to do this unit—”we already have the pad and pipeline”….
What’s the saying, that hogs get slaughtered?
Yep remember those days except I was on the wrong side of County Road 173..
Newsflash anybody keeping up with monster rock mission, petroleum, picking up another load of crude oil yesterday and now.
Another $9000 in crude revenue @ $60 per BO
So I think it is worth noting, operators can still drill a well even without 100% of the leasehold. If there are mineral owners holding out, EOG can still elect to drill the unit and carry the mineral owner’s interest until payout. Of course, if this is a large mineral owner then the economics of carrying them do not make sense, but if they are a small percentage and EOG is keen on the geology, they’re not going to let a mineral owner dictate their plans.
How it works is, whatever the mineral owner’s interest in the unit is, their proportionate share would be carried by EOG until payout (all Capex, etc. recoupment to drill the well or wells), then the mineral owner would back in with a working interest and net revenue interest of the same percentage (their net revenue interest is not diluted since they don’t own any leases and aren’t paying royalties). So, if a mineral owner holds out they A) may never get anything if the well doesn’t payout or B) if the well pays out, then they are on the hook for working interest expenses.
I very much appreciate all the discussion about current and planned activity in the Lavaca County area. My wife have a mineral lease off of 532 and we drove out on Monday to just drive around and see what is going on. We saw the Blackshear pad and here lease is about 2.5 northwest of that pad. I have used the TRRC GPS portal a bunch, but I am having trouble identifying potential additional wells and pad locations between Blackshear and Reimers units.
What is the best way to “sketch” in upcoming drilling unit locations to see if any will cover her lease?
Thanks in advance for your help. You all are very helpful in keeping us up to date.
Unless you have EOG’s maps, there really isn’t any way of knowing for sure. The only thing you could possibly do is outline the Blackshear unit on a map and then carry it, on trend, to the Reimers unit. I believe their units are usually 1,280 acres, so just kind of draw equivalent sized boxes up the geologic trend between Blackshear and Reimers.
Thank you for the suggestions I have done this.
What is the best source of future permitted drill sites or actively drilling wells? Is there something better than the TRRC public portal website?
Tx RRC site is the place to go for new permits.
Regretfully, there are no public (free) sites out there for rig activity / actively drilling wells.
Ship channel pricing is $19.595 for the weekend.
When will we be able to see some production numbers for the Reimer and Monster wells? I am assuming that they are finished with flowback, and the trucks I’m seeing are hauling crude oil.