Augusta Energy Resources, LLC had a drilling permit request for this well approved on September 4, 2024. The fact that it was permitted to 18,600 feet caught my eye since there hasn’t been a new vertical well permit submitted to that depth in Houston County since 2012.
It also was interesting that there was no P-16 form submitted with the permit request. The P-16 form shows the unit acreage allocation among the involved mineral owners, The only reference to mineral owners was shown on the well location plat, which made reference to a Drake Exploration lease that was executed by Bobby and Jo Ann Yancey on April 26, 2024. According to TexasFile, There have been no leases or lease memos filed in Houston County by Drake Exploration through August 30, 2024.
Augusta Energy Resources, LLC was first filed in Texas on January 11, 2024. This was their first drilling permit submission. Augusta is associated with New Auburn Energy Management which is sort of an “odd jobs” operation within the O&G industry.
Enverus reported that the well was spudded on September 20, utilizing Independence Contract Drilling Rig 301. That rig was previously located at Bethel in Anderson County, where it had been drilling injection wells for the gas storage facility being developed there. Comstock previously owned the Bethel gas treatment plant (now owned by Quantum Capital Solutions as part of their joint venture with Comstock) and has stated that they intend to store gas at this new facility.
The Bobby Yancey 1 well is located in the G Greenwood A-37 Survey in Houston County. This is about ten miles northeast of Comstock’s lease area in Leon County.
Based on this information, I think it is likely that this is a “stealth” test well being drilled for Comstock as they look to possibly expand their Lower Bossier/Haynesville play to the northeast.