Anyone have any info on Magnetar Exploration? They filed lease memos on 9/12/2024 and 1/28/2025 covering acreage north of Latexo. Much of the acreage is contiguous with acreage leased by Cypress Energy. Drake Exploration also reported to be leasing in this area although they have not filed any lease memos.
It is possible that all three are leasing for the same E&P company.
Currently doing research on them. Parents received a request but the Company and address attached are with Magnetar Exploration LP in Louisiana that just registered as a new business in November 2024. This is their second letter via Cypress Energy Partners with another low end offer and no standard leade structure wording.
My feeling in my big toe seems to be both company names are one off from other companies. Which raises my trust by verbage relationship red flag.
Your point highlights the need to state the full name of a company when asking about its reputation or information. It can make a difference if it has an LLC, LP or Inc at the end. Landmen sometimes form a new entity for leasing an area on behalf of an operator because the operator has done a lot of analysis and research and wants to lease without tipping its hand and having third parties take advantage of the operator’s work.
My wife, and her siblings, are also looking into/investigating this company as they have been approached by Cypress Energy Partners to sign a lease with Magnetar.
We would be interested in any information that you obtain and we will also share what we find out.
None of these companies are capable of drilling and producing deep horizontal Bossier or Haynesville Wells. They are most likely a lease broker for a much larger company or companies. The lease bonus and terms they are offering are 1950’s type terms! Beware
Aftee doing some digging I found the 2011 lease agreement for my parents, same address different shell name from the current agreement. In 2011 they offered a better per acre agreement and very limited exclusions. This time the exclusion are vast and include anything lithium would be in and lithium it self. In 2011 the activity bore no fruit so to speak.
Can you share the address?
My guess at this point is that Cypress, Magnetar, and Drake are all easing on behalf of the same company, possibly Chesapeake (now called Expand).
This is part of A-425.
I was referring to the mailing address of the company.