Lease sign posted. Rig should be there within a couple weeks.
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A rig is being moved in on this location north of Latexo today.
The Big E website shows their Rig #2 is capable of drilling 20,000 ft.
Went by this site yesterday. Rig up and clearly visible from Hwy 287. Site for sore eyes in this neck of the woods! Trucks, materials, and people going in and out.
I sure hope they jump the river and go SW.
Heard well plugged today at 9,800 ft with no hit.
I heard same thing: rig is gone. We signed our surface lease today. Tillie #1 going in within a couple months.
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What location is this and near what roads?
It down CR 2125 Ramon De La Garza survey A-33
Expand/Chesapeake’s leasing in Houston County is filing its leases with the address for the Southwestern Office in Spring, Texas for the most part. Supposedly Drake was “forced” to fire about 80% of their landmen. Drake and the other brokers were trying to “force” 3-year - 3-year options on lessors. Also, they try to not allow “cost free royalty.” This Magnatar Slater well #1 supposedly to be plugged I think is a “smoke screen.” This location was a big well-built location. I don’t believe that a company such as Magnatar would build a location like that unless a lot larger company was not behind it. Expand had lease brokers around that location when the leasing in that area started.
I expect that Expand will come and drill another well on that location.
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