Holmes County is active on the eastern side. Several deals have been reached and will be announced in the days to come. July is a good month for JV and lease trades or assignments. The oil window will open very soon. The landowners that stick together will see their land developed into drillable units and will secure longevity in the terms of the lease.
Recently we have seen the door to door activity increase, the flippers have invaded the region to get folks to sign their deal, claiming time is almost up. Do not believe this hype, as time is on the mineral owner side, remember, the infrastructure is still not built.
We are seeing a decrease in overall exploration& production cost, which means more money to spend on acquisition of leasehold AND we also have seen the unit size get smaller as to the actual well spacing within the production unit. Both great news for the mineral owners of eastern Holmes county.
stay together, listen to your group leaders and double check the stories as are being told. , remember two ears and one mouth were given to us for a reason.
I had heard they are selling through land brokers. They have a permit and a fack pad next to my propoerty in western Guernsey county. Was suppose to start in the spring, then they announced they where getting out of the Utica play. Finding out would sure go a long ways to clearing up northwestern Guernsey county as well as Holmes, looking at their holdings.
The land owners with the pad have not been told a thing and there(Devon) phone numbers are disconnected.
Tell the landowners with the pad that Devon closed the Houston office and they should direct any calls or questions to someone in OKC.
I will do just that going down there this Sunday, I will stop by and tell them, thanks for the info.
well pad and pipe with a fence around it are still there.
They lowered their field at least 12 ft lower then mine, I do not think they would eat the cost of doing all that work.