Happy New Year, all. Hope it brings health and wealth to everyone.
Is anyone aware of any increased interest in or increased activity in the Austin Chalk or Buda, in the general area where Wilson, Atascosa and Karnes meet? Or even Pearsall?! (Remembering the infamous Lang 11-H).
I have seen several operators and wells northeast of this area, up the Wilson-Karnes line, 20+ miles away NE.
Joe D and Mark:
Thanks for the info re Recoil. My mineral rights are HBP by EOG, but maybe the recent increase in price and nearby interest by Recoil will induce EOG to drill some more.
And, Joe: Do you have any indication of which formation(s) Recoil is interested in?
Considering all that EOG has going on in the EF and AC trend plus the Permian Basin, there is massive competition for drilling capital dollars. I am thinking that - if an area is HBP - EOG won't be drilling infill wells unless the area is GREAT as to economics (and potentially self funding from production).
Recoil's website talks about "Eagle Ford oil trend focus" which matches their managements past expertise. But even if EF is their target, I guarantee that they are taking a good look at the AC to see if merits their attention.
Just my opinion as always.
I do not have any indication of the formation. But I do believe that this area has more to offer than just EF. I hope that Recoil can crack the egg on this. I know my neighbors leased to EOG, but to my knowledge they are not HBP and their leases must have expired. Since Recoil is across the road from my property, I can only assume that they have found enough land in the immediate area not held by EOG to put a block together that includes my property.
Can anyone recommend a good O&G lawyer that is knowledgeable in this area to help negotiate the term of the lease. The only other lease offer I've been presented was from EOG, almost exactly 10 years ago, those were the early days of EF and the terms I've been presented now are surprisingly less than EOG offered back then. I declined EOGs offer and currently live in England, so I haven't been following things closely. I'm just hoping to get a fair deal to help the family out back home.