Key Exploration recorded 46 lease amendments on 3/20/2025. Most of these amendments involved 3-year primary/2-year extension leases written with effective dates from late 2021 into early 2022. The amendments elected the lease extension but lengthened the extension period from two years to four years. These leases will now have expiration dates ranging from late 2028 into early 2029.
It’s pretty amazing that Key began writing leases (two-year seismic options) in February 2021, but we still don’t know the identity of the E&P company!