I own an old family royalty interest in this well, held by production for decades by, I think, Basa Resources. It has barely produced anything over the last few years. But I have had a mineral buyer hound me relentlessly over the past few weeks, making cash offers that have really surprised me in their value. I assume he knows something I don’t.
Does anyone have any idea if they are re-drilling it? What else would cause the value to increase so quickly.
Thanks! Benn
Comstock and several other entities have leased more than 200,000 acres in Robertson, Freestone, and Leon Counties, with Comstock controlling most of it. The focus is a deep gas play primarily in the Lower Bossier formation.
The primary lease area is west of I45 in Leon, but Hou Tex Exploration has done some leasing in your survey and adjoining surveys. I believe that Hou Tex is a speculator, hoping to flip their leases at a later date, assuming the primary lease area is expanded east of I45.
I would imagine this new play is the reason for the interest in your royalty interest.
Thank you Alan. I appreciate your information.
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