Anyone aware of activity in NE central Lavaca cnty by Sanchez Energy? They bought up the Hackberry lease area from ZaZa Energy last year.
WI,
I hounded ZAZA after our lease ran out end of 2012 and finally got a landman to tell me they weren’t renewing but selling. In Jun or July of 2013 the sale was announced on ZaZA website…been quiet since.
Does anyone know if Devon has closed down or shut-in their wells in West Lavaca County?
Has anyone been approached by Delgado Leasing? our lease was sold to Devon, they did inform us they will not be renewing. This group from what I believe is basically trying to buy up some leases now I guess in hopes of being able to sell them when the releasing starts up again. Maybe I am misinformed but how I look at it is someone not involved in any of the production but trying to get a piece of the pie. I think this is what makes smaller properties harder to deal with and less attractive to the production companies to have to deal with all of this. Maybe I am wrong because I am not very educated when it comes to all the red tape that goes on. However, gonna follow my gut and say NO thank you. They try to make it sound like LEASE now or possibly not get picked up. I’ll take my chances, it has been a blessing in my eyes we have such a a small property, and there hasn’t been any drilling so far near us. I hope this turns around for all of the workers that have lost their jobs more than anything. We are located in the eastern side of Lava County.
I don’t have any information about Delgado Leasing, but can you be a little more specific about where you are in eastern Lavaca County? Up by Hackberry/Oakland? Down by Sheridan?
Also, the lease terms make a big difference in whether or not you would be interested.
Please explain “top leading”. We have a PennVirginia lease. I know they are having some difficulties and our lease in 2017. We have wondered how things will develope. Thanks, Kitty
Does anyone know an oil & gas attorney that they would recommend. Have a question on whether or not Texas has forced pooling on leases. If 80% of royalty owners lease and 205 hold out are they forced into a “working interest” on the lease or are they force pooled at all?
The Lavaca county courthouse annex will have a copy of the recording of the lease, however, it is just usually the “memo”, and not the full lease, but it will have some info on the “memo”, so going there and getting a copy of that will help. If he used an attorney, they should have a copy. Jim Clark associates, did the leasing, and you can check the Lavaca county offices which were is a building in Hallettsville across for the Dollar General close to the square…however it could be vacant. If, you ever get drilled on that tract of land, they will title search it again, and find a change of ownership…they will then find your father’s will through probate, and assign ownership based on that if you have not recorded the changes yet. As long as you are not in a present unit, or have been named in a new unit…no big deal, everything will happen as it should…and odds are Penn will be out of business soon, and they are not leasing, or extending any options that could be in the lease.
Penn Virginia has spud (commenced drilling) two wells in A-76 within the past few days. I don’t know if any of your 214 acres are included within the unit boundary. Attached is the permit for the Athena 1. On the last page is a plat which you can use to determine if you are in any part of this unit.
The Athena 1 was permitted Jan.2015 and was put in production on 6/24/15. It’s first 30 days produced 530 boepd…not too bad. Looking at the P-2 I do not think your property was in the Athena, but Penn did look into an new unit NE of Athena, not yet drilled. Also on 1/15/15 an Affidavit of Heirship was recorded in Lavaca county on your 214 acres. Best to contact Penn Virginia directly for further questions at their Houston office…ask for Debbie Freeman if she is still there…
Is there a way I can find exactly where our 214 acres lies? I have tried several times to contact Penn Virginia with no luck…
Honish%20lands%20vs.%20Athena%20Unit.JPG - This shows the approximate locations of the Honish property and the Athena Unit. Looks like you’re not in the unit. Penn Virginia should confirm that for you.
Gary%20Honish%20Lavaca%20County.JPG - Gary Honish 207 acres in A-76. This is all but 7 of your acres. Unfortunately, I couldn’t figure out how to scale the Lavaca County Appraisal District map, but there is a clue to where your property is located. It adjoins the Southwest corner of the Abstract to the North of A-76, and that is A-301.
Jonathan-- do you know what company he signed with ? and is the land in Lavaca county ?
Jonathan, if you provide your father’s name, I will see if I can pull up the lease or the memo. Do you have a legal description that includes the Abstract number (A-???)?
OGL%20Memorandum%20Honish%20to%20Penn%20Virginia%202013.pdf Here is the first page of the lease memorandum referenced by your father’s ratification. You could either approach Gary Honish or Penn Virginia for a copy of the lease – you are entitled to it. I am assuming your father retained a non-participating royalty interest in this property, which means he retained a royalty, but does not participate in the lease-making. It is a 3 year lease, which in the absence of production or an extension, will expire later this year.
Well…I was going to send a message yesterday about some news I heard about Penn virginia filing bankruptcy this Friday ot Monday…but decided not to…and I would have been wrong if I did, they filed Today !! However…if this DEAL goes through, they will remain Penn Virginia, and will keep all of their holdings. They have pre-authorized agreements with 100% of the secured creditors, mostly Wells Fargo, to continue to run the company, while unloading over $1 billion in debt. Penn has also secured cash to run their business while in Chapter 11, and secured about 100 million more after the bankruptcy exit (as well as keeping all cash inflows during this entire process)…So, Penn will still be operating in our area. Bad news if you own stock in it…it will be worthless, but today you can still get 2 cents per share if you hurry. Amazing how they were able to secure such agreements…so no fire sale here on Penn’s assets…as long as the court approves the DEAL…but word has it…it is going to happen.
Thank you for the info…hopefully with the oil prices slowly rising back up things get better all the way around.
So will PV still pay royalties during this process?
yes, business as usual on royalties…just those with leases that have zero production…don’t expect Penn to pay you the 2 year option or do a re-lease upon expiration…Penn has stopped all leasing…and of course no drilling as well…
My hope too. But its the judge’s determination and how soon the creditors agree with the reorganization arrangement and how the debt is to be reduced or handled. The lawyers are the only ones who do well in a bankruptcy, but they earn their pay.