I own ~ eleven NMA in the Jefferson Adams Survey A-67 and JA Harper Survey A-371 and A-372 in Anderson Co., Texas. DSD out of Southlake, Texas made a low ball offer then agreed to ~$7000/Ac after some painful negotiation but as the end was in sight they pulled another aggravating stunt and I told them to take a hike.
My question is, do I sit tight and retain ownership or look for another buyer? Lease?
Your 11 NMA are only 7.5 miles NW of the Expand deep science well and 10 miles NE and on trend with the Mitsue and Comstock deep Hz trend drilling in Freestone County.
Remember that these deep Hz wells are 30+ million CFPD producers - if you are in the trend, you 11 NMA would be worth a lot.
No guarantees since the “trend” in Anderson County has yet be 100% vetted and delineated, but sitting pat right now is probably a good move in my opinion
Thanks, Rock_Man.
Mineral rights owner in Leon & Freestone County here…
I was told by a source who is in the geological side of things that Mitsubishi (formally Aethon) have plans for a large number of wells in Anderson county. Anderson is seemingly going to be the next phase after Leon, drilling slowly moving towards the east.
this being said there are no guarantees
Thank you, AC
Expand (Chesapeake) is also hitting the Anderson County area pretty hard with leasing. Also drilled a deep science well SW of Palestine.
Also note that the new 350 square mile 3D survey being done by Seitel covers some of SW Anderson County (plus NW Houston Co where Expand has their 2H Yancey deep Hz well)
I had a similar situation happen. Supposedly had a deal but the day before closing the company said the acreage came back as less than originally thought. I told them I wanted to see the title search results and never heard from them again.