In 2003 a well was drilled and company decided they would "frac" the well. However, they decided to cement in the well and walk away. Since that time there has been no activity as far as leases, etc. on this acreage (minerals) owned with my brothers and sisters. The landman said that perhaps they would move over a few feet and might hit the "motherlode", but they don't seem too interested in drilling anything. There were even talks of moving across the road and drilling there, but that was abandoned too. There were offers to purchase our mineral rights too and that disappeared.
We are all now 50-60's and there have been leases for quite a few years of our lifetime. We inherited this from our grandfather/grandmother and aunt.
What is going on? Is there zero interest in this land? Or is it the economic condition of our country. Just trying to figure why all walked away and IF anyone will ever have an interest in this land again??
We all thought leases and drilling were a major possibility, but now it seems no one cares. What does it take for an oil company to have an interest in leasing? Never had a problem before, but just does not seem to be any interest in our land for quite some time. Has someone seen a picture and nothing is there worth pursuing or oil companies have just moved on to different areas where more profitable?
Thanks for your input. This land is off FM1095 between El Maton and Tin Top, South of Highway 35 in Matagorda County.