Leon County Leasing Update - 1/16/2024

Although leasing for the developing Lower Bossier/Haynesville play (Robertson, Leon, and Freestone Counties) began in Robertson County, it has become clear that Leon County is the primary focus, accounting for about 2/3 of the total gross acres leased so far.

There are four groups that have been identified as leasing acreage:

Aethon

Comstock

Vanna Production (working with the Wilks brothers via Sabana Royalty Partners)

Thorp Petroleum

Although Thorp began leasing independently, they have done a deal with Sabana/Vanna, and have assigned their leases to them.

Comstock has the dominant position in Leon County, leasing 75% of the total acreage leased so far in the county. Comstock has permitted 10 wells in Leon County, while Aethon and Sabana/Vanna have not permitted any. Aethon has permitted 7 wells in Robertson County, but their last permit submission was in April 2023. It remains to be seen if they or Sabana/Vanna will pursue drilling or if they will sell their positions to Comstock.

Here are the latest “ballpark” gross acreage estimates for each player within Leon County:

Comstock: 148,000 (plus an unknown amount of HBP acreage they acquired from Legacy Reserves)

Sabana/Vanna: 42,000

Aethon: 5,000

Here are maps the Leon County Surveys in which acreage has been leased:

Comstock (includes Legacy Reserve acreage locations)

Sabana/Vanna

Aethon

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Great Post! To my knowledge Vanna has NEVER drilled a well.

Good stuff. Do you have an update on any of the Freestone activity?

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Yes, I do. I’ll post something on the Freestone County page soon.

Here’s another interesting map that shows the Leon County lease area and a lease area in Cherokee County (around 55,000 acres) that has been established by Key Exploration and East Texas Energy over the last three years. Still no assignments, even though some of the early leases are now being extended.

Does this look like the same trend? What E&P company is doing the leasing? I assume we will find out at some point in 2024.

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Here’s a little more granular detail: East Texas Bossier Leases.xlsx (661.1 KB)

East Texas Bossier - Leasing Activity.pdf (2.2 MB)

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That’s awesome! How are you capturing all those details?

That is a great map and very helpful. Thanks!

We are thinking of just selling out or selling half. Who out of all the buying companies woud be best to contact and what price range is fair given the current gas market

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I was told that a rather large group of Landmen are in the Houston County Courthouse running title all the month of January and are still there as of last week. If any of you have any information on the name of the broker and or companies it might also benefit the Leon and Anderson County Group.

Houston County lease activity is difficult to research. I haven’t found any sources that allow you to search and view documents for free, and they don’t participate in Courthouse Direct.

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HOUSTON CO LEASES_FEB 2024.pdf (35.7 KB)

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Mineral owners are being approached in the far North West area of Houston County next to Anderson County and East of Leon County. This probably is linked to the large group of Landmen the past two months that have been in the Houston County Courthouse.