Just wondered if anyone has heard if EOG or others are pursuing new leases in Converse County. We did have a lease with EOG which expired last year and was never re-leased by EOG because of the downturn in oil prices. Are things picking up?
We had a lease with Wold Energy Properties that they did not renew in November. I believe most or all operators are in capital preservation mode and they are not renewing leases. Of course, that means someone else could come in and lease your minerals, however, despite the rise in prices, it may be awhile before leases pick up again IMO. Someone may swoop in and grab up the leases that have not been renewed but there have been no signs yet of that happening yet.
Thanks for your response. Sadly, I’m of the same opinion.