Oil & gas discussion group for those interested in Frio County, TX. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
Does anyone have any news on whats going on in Frio county as far as production; particularly in westcentral Frio county?
Just received my 4th division order from Ricochet Energy. Already paying on two Stewart #1 and Stewart #2. New ones are Stewart-Michael Unit 1 and Stewart-Michael Unit 2. Located about 5+/- miles NW of Pearsall. "What a great country, America!"
Andy, I read your email, and have asked to join you as a friend.
I will send you my email address as soon as you invite me. Thanks
Chesapeake is in BIG financial trouble. If you are discussing a lease with them you may want to increase your level of due diligence.
Monday 14 May 2012 -- HOUSTON - Chesapeake Energy Corp. said Monday that it would delay a $1 billion oil deal in the Eagle Ford oil shale in Texas, but that major asset sales in the Permian and in the Mississippi Lime basins remained on track to close in the third quarter.
Chief Executive Aubrey McClendon said that language the company included in a quarterly filing Friday warning of a delay in asset sales led many to worry that the Permian and Mississippi Lime sales "were somehow in jeopardy." But the language was referring to a Volumetric Production Payment deal in the Eagle Ford, in which the company would have sold some of the field's production in advance to investors, McClendon said. Chesapeake stock had tumbled 14% on Friday in the wake of the company's filing.
He said the company also has identified noncore assets it plans to sell in the second half of 2012 and continuing into 2013 to make sure it has enough money to meet its ambitious spending plans. McClendon said that the company chose to take a $3 billion unsecured loan from Goldman Sachs Group Inc. and Jefferies Group Inc. instead, as it would provide more assurance to investors that it would be able its transition from being primarily a natural gas producer to one more focused on oil from a position of strength.
The Oklahoma City company, which in the past decade has grown into the second-largest natural gas producer in the U.S. by throwing armies of land men into emerging oil and gas fields, also plans to concentrate on drilling the acreage it already holds, McClendon said. That's uncharted territory for the company, and for McClendon, who started out as a land man.
"Now we're transitioning to asset harvest," McClendon said.
See link at bottom for full article
Burning gas sparks worries
Updated 09:01 p.m., Monday, May 14, 2012
With oil production on the rise in Texas, drilling companies increasingly are burning off the natural gas that surfaces with the oil because they can't get pipelines in place fast enough to transport it.
“There's just more demand for pipelines than they can currently keep up with,” said James Mann, a lawyer who represents pipeline companies.
But the process — called “flaring” — is raising concerns among environmentalists, who say it releases nitrogen oxide, sulfur oxide and other emissions with public health risks into the atmosphere.
The number of flaring permits approved by the Texas Railroad Commission has increased sharply in recent years, from 107 in fiscal year 2008 to 651 in fiscal 2011, according to Ramona Nye, an agency spokeswoman. This corresponds with a dramatic increase in demand for drilling permits.
The commission issued 9,347 drilling permits in the long-active Permian Basin last year, up from 3,369 in 2009. The West Texas region, which is 250 miles wide and 300 miles long, has generated at least 260 million barrels of oil in each of the past three years.
The gushing flow from South Texas' Eagle Ford Shale is more recent, made possible by a drilling technique known as hydraulic fracturing. Oil production from the Eagle Ford has spiked from 130,802 barrels in 2004 to more than 30 million barrels last year. Drilling permits issued for the shale area also have risen dramatically in recent years, from 26 in 2008 to 2,826 in 2011.
Im gonna get on my high horse for a minute and say that I wish it was back like it was before when we were poor but still managed to hang on to the ranch poor. We all knew there was oil down there but dealing with oil companies again?? who needs it. this is the only time , maybe money wise, when being a working interest paid off. No I didn'ttake that deal but sure wish I would have. Anybody take the working interest deal? Tell me, am I right?
Big Oil, I hate you so much I love you damn you , Big Oil!!
Here's our situation:
A few months ago my family was contacted by an attorney named Kent Hackney, who informed us that we had inherited the mineral rights to a 160 acre tract in Frio County. He sent us some rather confusing-looking documents which he said we should sign and return to him as soon as possible. Well, none of us signed anything, and my uncle got his own attorney to look into this. He gave my uncle a list of several questions for Hackney and when he called and started asking them, Hackney hung up on him.
We had assumed that this was at best small potatoes, but this lawyer's behavior has me thinking there might be some real money behind this.
Any thoughts or suggestions would be very welcome.
BTW for Kammi Kothmann: Back in 1981 I worked at the Junction, Tx. KOA for a very good and honest man by the name of Johnny Kothmann. Are you any relation to him?
160 acres in Frio County can be pretty valuable, if you are in the right spot. Your uncle did the right thing. You should look at the video tutorial on the home page and search the RRC website for activity in your area, if you have a legal descrption.
Yes, Mr. Hester we are related. Actually I'm related to all Kothmanns especially in that area of Junction, Menard, and definitely Mason.
Collin Eaton Reporter- Houston Business Journal - Apr 15, 2013, 1:45pm CDT
Eagle Ford Oil and Gas Corp. (OTC Markets: ECCE) said Monday it has received a $22 million letter of commitment from San Francisco-based financial adviser and fund manager EM Capital Management LLC.
The Houston oil and gas exploration and production company said it plans to use the funding to drill three to four wells in the development and exploration of oil and gas assets south of San Antonio in Frio County, where the company acquired an 85 percent working interest in more than 3,600 acres.
That development acreage is known as the East Pearsall Project, the company said in a statement.
EM Capital Management is a division of investment manager EMCH Investment Corp.
Eagle Ford Oil and Gas bought the acreage in the Eagle Ford Shale oil and gas play last July. The year prior to that, the company acquired Sandstone Energy LLC in exchange for 17.8 million shares of common stock.HBJ
I am looking for approximately 5-10 acres of land for the possibility of placing a commercial disposal well....does anyone know any surface rights owners that may be interested? Call me, 512-■■■■■■■■
Has anyone seen any permit activity in Frio County of late? My lease is with Marathon Oil and they seem to be drilling in one area down to the Pearsall Shale.
Hello...I am looking to lease and/or buy 5-10 acres of land, preferably off a major highway or county road for the purpose of possibly obtaining a permit for a saltwater disposal well. Three (3) phase nearby would be a huge plus. Please text/call Tim Terry at 512-■■■■■■■■
Does anyone have an oil & gas attorney that they would recommend? We are in negotiations on a lease in Frio County, and need a new attorney. Ours does not ever return calls, and is apparently too busy to do what he said that he would do in the time frame that he said he would do it in.
Also, if you know any attorney to avoid, that will also be helpful.
Fran we are a potential lessee in the area and happy to help recommend an atty too but would first want to make sure we review your position. If possible or still un-leased please send over information to ■■■■■■■■■■■■■■■■■■■■■■
The following is a sponsored (paid) promotional notice:
If you own minerals in Texas or New Mexico, consider attending the NARO – Texas convention in San Antonio July 18-20, 2018. They have a great agenda, good speakers, and the cost is reasonable. This year also includes a special session for New Mexico mineral owners. The current agenda draft is attached, and a link to their signup and information page is http://www.naro-us.org/event-2824234