BTE Energy LLC has retained Lantana Oil & Gas Partners to sell certain assets in northern Louisiana.
The package includes 100% working interest (75% net revenue interest) in more than 60,000 net acres in Morehouse, East Carroll and West Carroll parishes. The leases feature three and half years remaining on the primary lease terms, targeting the lower Smackover "Brown Dense" lime. The leases reach from 7,000 to 11,000 feet in vertical depths.
The bid due date is July 17. The effective date is July 1. ...
I no longer subscribe to UOG Center and this is all that is available without a subscription.
Neither company mentioned is registered with the LA Secretary of State.
Folks are starting to shy away from LSBD. Just not what they thought it was gonna be...Just sayin.
Owing to the formation depths the general area listed for the assets is not as prospective as Claiborne and Union parishes. The formation depths as listed in the DAN A. HUGHES COMPANY, PLUM CREEK #1 (located in S7-22N-5E, Morehouse Parish) Preliminary Completion Report are Smackover 6770', Norphlet 7550' and Salt at 7598'. The depths are to the top of the formations listed.
This is Burke T Edwards from Austin, TX. He was an early mover on the Eagle Ford Shale. This package has been for sale since he completed leasing and was on display at NAPE this year. He leased really really cheap (20% royalties or less), and is attempting to flip for a profit and retain 5 to 7% override in royalty interest.
good timing, given that the first big well is almost set to come on in the play, IMHO
BLO, if the first big well you mention is the SWN L SMK RA SUA; BML PROP 31-22-1H #1 it's a long way from the western edge of the lands offered by BTE and a whole lot deeper. I doubt it will have any affect on the value of leases in Morehouse and E & W Carroll. The fact that it did not sell at NAPE and is now being touted on the Internet leads me to believe that it's seen many potential buyers by now and found no takers.
What is the Sec. Township, Range in W Carroll leases for sell
They are not listed in the article preview.