My Fowler Property Not Yet Leased

I closed on some property in Fowler about 4 weeks ago.  BP is telling me they are not leasing any more land unless it is included in one of their planned production units, which at this time it is not.  Does anyone have a guess as to how things may unfold for unleased land from this point forward?  Is there anyone worth contacting other than BP?

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Permalink Reply by hopeforoil on October 25, 2012 at 3:39pm
Didn't Carrizo just sell their leases in Trumbull? Wouldn't think they are still leasing in that area.
Permalink Reply by Jon Popio on October 26, 2012 at 3:02am

I believe Carizzo sold their leases to Halcon. Patience might be the best course of action for you. BP will commence test well drilling in 2013, if those prove out, you might be able to get a higher signing bonus than the earlier leases. Of course there is the risk that the test wells will be disappointing. At any rate, I have property in Hartford Twp, bordering Fowler, and I am in a BP lease. And I was a late signer where they were starting to be discriminating as to whether they wanted parcels or not. So anticipated production units are very close to you. If the test wells pan out, I'll bet they will then be interested in your land.

Permalink Reply by Craig Fauvie on October 30, 2012 at 8:55am

I appreciate the responses.  I did email BP and SIF again in case anything had changed in the past few weeks.

I agree with being patient; I can't force the situation, but if somebody else is out there leasing land I would want to at least inquire.  If it's going to happen, it will happen.  In the meantime, I'll try to stay in the loop with what is going on around me. 

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