Renewed mineral rights lease

we inherited mineral rights that were leased 3 years ago. The company at the time was working under EOG but never did anything with the lease. It recently came up for renewal and we were contacted by a landman for EOG directly. At the time we were thinking of selling the rights but he said not too that our neighbor down the street was enjoying royalties. When asked about the earlier lease, he said EOG took it back. My question - why would a company working for EOG pay for a 3 year lease and not do anything? Now EOG pays again for another two years? The property is in Leon County and is pat of Thomas B Cox Sur. How much drilling is EOG doing at the present time in Leon County? I'm wondering if we'll see anything be produced this time around.


Am posting a link to 8 pages of approved permits for Leon County Texas from Jan.1, 2013 to Nov. 4, 2013.

Click on link and then click on Lease to view what companies are exploring for oil/gas in Leon County in the past year.|1003=05|1004=289|1005=beginsWith|1008=beginsWith|1012=beginsWith|1015=beginsWith|1024=01%2F01%2F2013|1025=11%2F04%2F2013&rrcActionMan=H4sIAAAAAAAAAM1Ry07DMBD8mnK0vE5SwmEPUQVnHhU9RD24iZVaSuJo7QiQ_PGsA0iQckZc7NnZ8Xo8jiAlqggSEK6ImqoJ1o2PDbW1POLCv5iTniavBLeFDzoYEV7F7DdZVUpWKNyou9tDxTBLsCXb93bs7g0NNviH2dDbx1jROhblOJhwdu3e7XTfM1EgmTDTuHdPRlNzZqpEeeGm9ku3os6LSZMennU_m8UkXyyLtOeoypsECjyZzo7-YEOaxwN_1KBW9UqvcpTAb1kWJSFLXIGwcPknt3IIf5eX_8ppi5PuDH3L49fw4Fivdcksf7xCkDHDa4h5QgWWccvg8


EOG has been involved with only 1 of those permits.

Clint Liles

Its about timing and location. They will drill the most favorable locations first and move from there. It takes a lot of time to drill, frac, and collect information. Then Geologists and engineers will decide where or if they will drill the next well. Thats why they put the option in to begin with. Good Luck

Thank you both for your quick response and helpful information. Never thought we'd be interested in oil in Texas. :-)