I have mineral rights leased in TRINITY COUNTY? Any drilling there?
Good afternoon Eleanor: My wife, Elizabeth & I have over 680 mineral acres in Trinity County. ALL UNLEASED! Over 90% to 95% of the over-our fence-line plus 1 or 2 next away mineral tracts surrounding our property have been lease by one company - all 3 year plus 2 year option with only 2 same owner surname property with HARD-LINE 3 year leases, A Tempel, TX, based production company holds all these leases with exception of 2 to 4 tracts held by Clay. All of these tracts were previously held by ZaaZaa Production in Houston with 4 (four) year lease EXCEPT OURS. We agreed to a 3 year lease - no option. In the last month, July 2018, of our 3 year lease a new production company was at our front door saying they wanted to TOP LEASE our 680 acreas plus. Again all adjacent mineral were actively leased to ZaaZaa, with all having approximately 1 year remaining under those leases after our lease expiration date. The new production company at our front door said they had purchased all leases from ZaaZaa. THAT WAS AN OUTRIGHT LIE. ZaaZaa was/is an active Delaware Chartered Production Company, NOT a Texas chartered company and WAS NOT BANKRUPT as written in a Houston Chronicle story announcing over 125 bankrupting Texas Oil Patch producing companies. Our lease terms have not been met by the production company at our front door - same company holding 3 Year plus 2 year option leases for most tracts tracts. VENTING OVER!!!
Adjacent mineral properies are leased by a TYLER, TX, production compant - not Temple. Orlan
If you’re talking about ZaZa Energy Corporation in Houston, it appears the reason they didn’t file for bankruptcy is that they were simply too broke to hire a bankruptcy firm. They ran completely out of money in 2016, and everybody working there quit because they were tired of working without pay. The stock was delisted from OTC back in 2016, as I recall, and hasn’t traded in several years.
Whether somebody stepped in and picked up their lease inventory, I cannot say. Somebody may well develop the ZaZa leases, although I doubt it in this price environment. But it seems fairly certain that if anything is to come of those leases, it won’t be ZaZa making it happen.
The last MEMORANDUM OF MINERAL LEASE for the JAMES WARD A-47 Trinity County Texas expired in early Sept, 2018., per the Triniity County Clerk’s Records, Groveton, TX.
No extentions were ever filled on these the tracts generally described by my 1st response.by anyone.No drilling permits were ever taken out by ZaaZaa, or any other producer. No drilling or held by production exist. Therefore, ZaaZaa Energy Corporation leases are DEAD.
The same mineral tracts have NEW MEMORANDUM OF MINERAL O&G LEASE MEMORANDUMS filled by a Tyler, TX, producing company (a few late 2018, balance most Jan-Mar, 2019. I have copied all of them posted early May, 2019. All the memorandums were filled by same Tyler, TX, producer except 3-4 by another producer, Clay) Several hundred acres are now leased by this company, with the exception of our 682.5 acrease sitting in the middle of all I’ve generally described.
If it is good rock, someone will drill it. Unfortunately E&P companies are getting hammered for growth right now so it may be a while before someone takes a risk to explore it.
Are we to understand, then, that after the expiration of the ZaZa lease, you were offered a lease by another operator, but you found the terms of the offer unacceptable and declined?
If so, then you may want to check with your neighbors who have signed leases recently, to see how the terms they signed for differ from what you were looking for.
We did a lease check in the vicinity of James S. Ward, A-47 (and many other nearby surveys) back in 2014. It was pretty apparent to us that some of the players in that area had spent far more money acquiring leases than could be justified by what was concretely known about it. Considering some of the bonus offers people were telling us about, together with the speculative nature of the area, some of these companies might as well have tossed the cash into a fire pit, doused it with gasoline and tossed a lit match.
I would guess that any company attempting to acquire leases in that area of Trinity County today is proceeding very cautiously, given the current oil/gas price environment.
Continuing the discussion from Trinity county:
I have 2,127,9 acres plus an additional 114.55 acre trac leased in Trinity County in 2018. by Waypoint Exploration L.L.C out of Spring, Tx. As the oldest and probably the last 3rd generation of the Mangum family, I doubt I shall see any profit from drilling on any land in this lease. However, I am curious if any drilling is taking place by Waypoint. Incidentally, some of this property has been leased on and off by oil companies for the last 70 or more years yet no one has actually drilled on it. Any info there???