I would like to know about any drilling and/or leasing going on in Freestone County, particularly in the South Central part of the county, Lanely and Buffalo. I have leased out to a Landman and just looking to find out what is happening in the area.
There are three companies that have been leasing recently in Freestone County targeting a deep gas play located primarily in the Lower Bossier and Haynesville Formations.
Here is a map of the surveys in which Comstock has (1) newly leased acreage or (2) acquired the deep rights in existing HBP leases:
Aethon also has established a lease position in Freestone County:
Mitsui E&P also has a lease position in Freestone, acquired from Vanna Production/Sabana Royalty Partners. Here is a map of their lease area in Freestone and Leon Counties:
Comstock and Mitsui have permitted horizontal wells in Freestone County. The Comstock well has been drilled and is about to be frac’d. No rig yet for the Mitsui permit. The Comstock well is the one near Oakwood on this map, and the Mitsui permit is north of Buffalo:
Comstock Mitsui Freestone.pdf (973.9 KB)
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How deep is “deep rights?”
I’m curious as to what was offered. I placed in an earlier post we were offered $400 per acre and 20% royalty in Freestone County, that offer is now at $500 but after reading some of the posts ad continuing to research (this FORUM is magnificent) I believe the offer is really low.
Mine was $750 and 20%
Thank you and wishing you the best of luck!
The deep rights are for the Lower Bossier/Haynesville interval, possibly Haynesville only in some areas. In the leases, the depths are usually expressed as top of Bossier down to base of Haynesville according to the log info from a particular existing well.
In some cases, the depths are given in feet. I’ve see some Freestone County lease memos that cover all depths below 17,200 feet, 17,400 feet, or even 18,000 feet.
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It should be at least a $1,000/net. acre for a 3 year lease with a 1/4 royalty using a good lease form. No options. Hang tough, you’ll get it.
Add on, if you can, no deductions clause.
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Years ago, I found, on the internet, Real Estate Center: Hints on Negotiating an Oil and Gas Lease by Judon Fambrough, Senior Lecturer and Attorney at Law. Not sure if still there. Article has good information.
It is, https://trerc.tamu.edu/wp-content/uploads/files/PDFs/Articles/229.pdf Downloading and reading today, thanks.
Great! Glad you found it!
I decided to read the article, Hints on Negotiating An Oil and Gas Lease, again. To my surprise, I had forgotten about dont warrant the title. This is known as the warranty clause. No mineral owner(s) should warrant the title. O&G companies have people that conduct title searches.