All Things Pertaining Leasing, Drilling & Mineral Rights in the Eagle Ford Shale
New at this, but I noticed EOG has a lot of tanks set up with pipeline going t well and gas flaring at the Lang 11H well close to our property in Wilson County. Does anyone have any idea of what's going on?
Would greatly appreciate info if available.
Have to agree - betting that there are some brokers doing some scrambling in this area hunting down deep rights. And ideally PennVa taking the lead.
This well (Cannonade 50H) could have been a major poker chip in the recent Magnum acquisition. Some experts feel that PennVa paid a higher price than they should have - but these comments were based on the EF potential.
Good to see some positive Pearsall results this far to the northeast in the trend.
Mac, Marc and Mark (alphabetical order)
Thank y'all for your replies.
My minerals are down closer to the Lang. I hope the heretofore poor results from there are an indication of something peculiar to that well and not an indication of the lack of prospectivity in that general area of the Pearsall. If Cannonade continues to show good results, and good results come from as far SW as Charlotte, then maybe there is some continuity (I don't mean in the traditional reservoir sense) in the Pearsall.
If Lang and BigHorn are both truly disappointing, then I guess in the worst case (for me) there could be a bad stretch in an overall good trend, or in the best case Lang and BigHorn were just early on the learning curve for EOG in the Pearsall, and further penalized by short laterals and small-diameter piping.
Re: Lang 11H Area - Lease Extensions?
Does anyone know if EOG has exercised their 2 year extensions on any part of the leases in the Lang 11H area?
Mark, Yes 18 months remain on extension.
Mark, Im in the survey to the NW that touches the survey the Lang 11H is in. I was not leased until Jan. 2012 about the same time it was drilled. Just wondering If I was picked up later than alot of folks in that area.
Kevin, based on what I have seen as to the surrounding leases, your conclusion is 100% correct. It is good to see that EOG appears to be exercising extensions in this area - must still have value for them / just not on their immediate capital expense - drilling schedule.
This is good news! Good to hear there may be something of value in this section. All we need is patience.
Thanks all for the information.
I thought the EF is fair - good in this area? or will be economical to drill the EF in this area. I spoke with a friend who is high up with the company that holds all this area about 10 months Back. He stated the pearsal was not for them for them at that time. He did say the EF will be drilled in this area. Be Patient was the words and expect a well just before the less is up.
Mark, EOG exercised the 2 year option on our leases in December 2012. We are located about 4-5 miles east of the LANG 11H area. However, in this same area EOG acquired 8-9 leases from Hunt in 2012. Hunt wanted to drill this area and needed to square up their checker boarded boundary on the south and west with EOG. That was accomplished. The Hunt leases that EOG acquired are expiring this fall. Just this week I was contacted by an EOG landman to ratify and amend the old Hunt leases as EOG is planning to drill the area this summer to get it HBP'd before the leases expire. Good News! Also, Hunt traded leases with Marathon on its northern and western boundary to square it for drilling in 2012 as well. I know that Marathon put the acreage up for sale, but as far as I know had no takers.Probably because the leases are set to expire this fall and the purchaser didn't have time to get it drilled. Marathon has offered 2 year extension for $1000/acre with no increase in royalty. I also heard that Talisman is top leasing some of this acreage for $1,500/acre targeting the Pearsall. Does any one have any idea what Marathon's plans are? I heard that Marathon just completed a vertical Pearsall test in this area on the Wright place that is making 1,100 barrels of oil a day. No confirmation of that yet. Any input or comments are appreciated.