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Frac Monitoring
Posted by Evolution Gauges on March 7, 2010 at 6:01pm — 2 Comments
Petrohawk lays off Landmen
Posted by Johnny on March 6, 2010 at 8:32pm — 6 Comments
Fleming Supports Resolution to Stop National Energy Tax - Good for the Haynesville?
Posted by Keith - Site Publisher on March 3, 2010 at 4:44pm — 1 Comment
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That so-called "well" in the upper cretaceous zones is of course holding that lease by "production". Undoubtedly, in some future time that 266 acres will be explored in the deeper zones which are highly probable for excellent production.
This is a long winded way to say that it is mandatory to demand depth limiting clauses in any lease negotiations pertaining to East texas or NW LA. So much of the cretaceous is productive---at minimal costs to drill as well as minimally productive that unscrupulous operators can quickly and cheaply drill a borderline "commercial" well and virtually HOLD your acreage until gas prices and rig availability come your way. This might be a year or more or many years in the future which of course is all right if you know how to live for a thousand years. If you don't it frankly stinks.
Avoid all this by insisting on depth limiting clauses in your lease or leases. . You would think that the self interest of an O&G operator would cause them to develop your property as quickly as possible, but that isn't always the case. Especially when they can drill a shallow well on your property, hold it by production and tie up your lease for years while paying you a pittance each month while they seek out other O&Gs that will pay THEM and not you the real value of your leased property. This is a sad story that is repeated thousands and thousands of times. It can be prevented with depth limiting clauses.