Family-owned property in Fordtran, Newman, and Osborne. How does this size property continue to remain "invisible" to landmen? Maybe there are other parcels bigger? There are no obstructions to the property, easy access in and out, I don't understand. Could use some significant insight, please, or better yet,,,,,,a lease! Thanks!
If it has remained unleased, I would guess that the area isn't good geologically.
Jordan,
The property has been unleased since Dec 2013, not too long.
There were wells on the property in 1986. (Vertical drilling)
The wells were in the Austin Chalk and were still producing when shut in. The company went bankrupt like so many others in in 1986 when the price of oil dropped from $36.00 to $18.00 over night. . There are 9 directional wells producing in A37 just to our north. Just south I know Forest Oil has directional production. To the west is Cost and yes there is production there as well as east of the property in Pilgrim.
There are three pays (Austin Chalk, Eagle Ford, & Buda Limestone) of opportunity available in this region and possibly a fourth if we include the Pearsall shale. (not tested yet). Geologically, this property should be very good.
Which survey is the property in?
209 Chas Fordtran -77.40 acres
362 William Newman - 430.0 acres
368 N. Osborne - 493.0 acres.
The property totals 1000.4 acres Acreage is adjoining
Thanks Jordan
I believe we considered that property about a year ago and it has heavy faulting.....but will have to go back and doouble check
Thanks Tom for you reply. Will look forward to your reply.