Key Exploration executed its first leases (subject to two-year seismic options) in February 2021. Since that time, Key and East Texas Energy have continued leasing in Cherokee County, with the total gross acreage to date exceeding 55,000 acres.
The total cost so far of seismic work, title work, and lease execution has to be well over $10 million.
Anybody have any ideas about who the E&P company is for this project? Pretty unusual to be three years into a project and not see any assignments or drilling permit filings.
In addition to the leasing done by Key Exploration and East Texas Energy, a document was filed on 4/10/2024 in which San Saba Royalty Company, LLC and Coronado Haynesville 2021 LP obtained the mineral rights to 30,184 acres in Cherokee County (50/50 split).
The conveyance includes 83 tracts of land associated with the liquidation of the Chronister Lumber Company in 1941.
I spot-checked a few of the tracts, and the 30,000 acres are located in the southwest part of the county, due west of Nacogdoches, and quite a bit south of the Key Exploration leasing area.