check out sonris-lease sale and tract history. eog has leased 2650 acres for anywhere fromn $751-801 per acre.
i'm not sonris ready. is eog in n.w. avoyelles?
eog is in avoyelles as well as rapides parish. i think that they are targeting the lasalle arch.
is eog comin' toward pineville?
Sixteenth Section land as below:
AVOYELLES 16 T03N R06E
AVOYELLES 16 T03N R04E
AVOYELLES 16 T02N R05E
AVOYELLES 16 T02N R06E
School Board property
801 per acre!
The lease that intrigued me (not one of the four in the above post) was the 98 acre tract that I think was was a school board lease. I found it later on sonris.
That lease recieved a $801 per acre bid.
From what I can tell many of the leases only had one bid. EOG!
I wonder if Halcon or others interested in Avoyelles got caught sleeping?
EOG and Halcon (Floyd Wilson) appear to have learned a lesson from the Haynesville Shale. That lesson is to avoid head-to-head competition for leasehold in unconventional plays wherever possible. I can assure you that Halcon was aware that that particular lease tract was available in the state auction. It's in an EOG area, not a Halcon area. What many land/mineral owners fail to realize is that companies that operate (drill wells) aren't generally interested in buying leases in areas where a competitor already has the majority of lands under lease. Only the company with a majority of acres is in a position to operate.
So can we assume that EOG is trying to get back the momentum in Avoyelles that Halcon appeared to be slowing down?
In my view 4 of those state tracts that recieved bids could be complete units, so why not at least bid?
Halcon is in the area and they are competing very well at this point so what's up?
State tracts are generally leased after private leases are secured in the area of interest. The company holding the private leases nominates and bids on the tract(s) through an intermediary land company. State bid tracts only rarely draw more than one bidder. In an unconventional play operators strive to keep leasehold as contiguous as possible.
Thanks for the explanation.
Here ya go, blackjackjackson.