Key has continued to file a few new lease memos, plus they have exercised their lease option on quite a few seismic options. Does anyone have any new info or speculation about this project that now includes more than 55,000 gross acres?
I’m beginning to wonder if this might be an extension of Comstock’s LowerBossier/Haynesville leasing in Robertson, Leon, and Freestone Counties.
No new info but questions. This topic 1st appeared around October 2021. I dont have access to some of the subscription data bases but i dont see any drilling rigs in this area. Looking at the RRC GIS maps i dont see any permits for new wells to speak of… I also reviewed Dawson Geophysical’s last quarterly earnings report and they state they only have 1 crew working currently and I doubt they are in Cherokee.
Also with all this leasing going on i would expect this forum would be seeing lots more discussion among mineral owners on rates and terms of offers they are getting. 55000 acres being leased would involve 1000s of owners. So i am really curious as to what is going on here as well.
Also wouldn’t all the lease money they are investing be wasted if some production didn’t result to hold the lease?
Key’s first 60 leases were recorded on 9/24/2021, and those leases were executed between February and September of that year, so those earliest leases are now 24 months or more into the primary term.
Key (or whatever company is behind this leasing) also has been doing seismic work. 385 two-year seismic options were filed which gave Key up to two years to decide if they were going to activate the o/g leases, I think Key has activated about 60% of the 385 so far.
It is odd to see a leasing campaign go on so long with no drilling plans announced. It appears that the target is probably deep gas, as Key acquired some HBP leases, but only for depths below 12,800 feet.
I’m thinking this could be Comstock, but that is nothing more than a guess. It’s not obvious who else would be willing to spend this kind of money (land acquisition and seismic work).
I will share any information I come across. I reached out to an acquaintance in the seismic industry to see if he knew anything and waiting to hear back. I did read a general statement Comstock put out something to the effect that they are “continuing to add acreage” in e tx and la…
This topic was automatically closed after 90 days. New replies are no longer allowed.