A very good friend of mine just informed me that his family has been approached from several companies about leasing their minerals below the Wolfcamp. They had a depth severance on their first lease and have been offered $2000 a mineral acre lease below the Wolfcamp. Maybe there’s a new play developing? They are located in Ector County but hopefully it covers the whole Permian basin.
The main horizontal plays in the Midland Basin that are getting more active, below the Wolfcamp, is the whole “Pennsylvanian section”.Principally, the Penn detrital, Strawn sands and Strawn carbonates. I am a 40 year geologist actively working these plays.
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It would be a good time to get a good oil and gas attorney to evaluate the old lease and make improvements to it for the future lease.
Thanks Doug, You being a geologist would you think the Deleware basin would mimic the Midland basin in regards to the Penn, I know Coterra has hinted about a new pay zone.
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