I just wanted to give some information about the status of our situation in the Eagle Ford Shale because it seems that a lot of people are not getting good first hand information. We have about 310 acres in Karnes with full mineral and surface rights. We met with the oil company at the beginning of this week on the property to look at where they were planning to put the drilling platform. As we understand it, they are going to put up one pad with two seperate wells. The wells are going to be in a 300 acre section that will encompass about 3 or 4 different land owners. This particular well will only count for about 30-40% of our land. The landman that we talked to said that the rest of our land will be drilled according to the soonest lease that will expire in the section. Talking to the neighbor in our section it seems that this will occur before December or maybe even sooner.
The original two wells that they are drilling now are expected to be done and producing royalty checks around November. The landmen out there are running around with their heads cut off trying to get as much drilled as they can. He said they had 26 wells that had to be drilled before November. It is an exciting time for everyone in the Eagle Ford Shale. It seems that the wait is over. I will keep ya'll posted on any other updates such as production rates, drilling depths, or any other information that I may receive.