Assignments, Minerals, & OGLs
Minerals: I know I’m starting to sound like a broken record, but Eckard Land & Acquisition continues their impressive mineral buying streak.
- Behind Eckard for Total Consideration recorded were Salty Rock Resources LLC, a company out of Dallas, and L3 Resources LLC.
Oil & Gas Leases: OGL activity continues to trend upward, with over 1600 tracts leased during the previous 30 days.
- The Top Lessees were Mewbourne Oil Co, Continental Resources, and Citizen Energy III, LLC.
- The below heat map is filtered to the top 3 Lessees. Mewbourne targeting Western Oklahoma and Continental and Citizen’s targeting South Central Oklahoma.
Continental Targets Northern Carter County
Continental Resources appeared in our OCC Application db 152 times during the previous 30 days; Carter (58), Blaine (34), Grady (26), Garvin (26), and Murray (8).
- Speaking of Continental, Harold Hamm, chairman of Continental made an offer to take the company private.
- The next closest applicant count was Citizen Energy III LLC (89) and Casillas Petroleum Resource Partners LLC (82).
OCC Orders: When looking at pooling orders the thing that stands out is the number of poolings that were filed by Mewbourne Oil Co. 10 of the poolings were located in Ellis County and 2 were located in Custer County, which as we noted above are the areas they are actively still leasing.
- Curtis Mewbourne, the founder of Mewbourne Oil Co., unfortunately recently passed at age 86. Our thoughts and prayers are with his family, friends, and co-workers.
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Permits Are Steadily Increasing
131 Permits were filed for the previous 30 days.
Permit Leaders for all drill types:
- Calyx Energy III LLC (9)
- Devon Energy Production Co LP (8)
- Ovintiv USA Inc (7)
- Citizen Energy III LLC (7)
- Continental Resources Inc (6)
Kingfisher County had the most permitted activity with 15.
Spud News: 27 wells were spud during the previous 30 days. Blaine County had the most spuds with 6.
Well Transfers: Citizen Energy picked up over 180 wells in the previous 30 days (assume the other 20ish wells have yet to be transferred) from Red Bluff Resources Operating and Bricktown Energy LLC. As noted, we detailed the acquisition on our site.
Most of the wells, as illustrated below, are located in central Oklahoma.
HAPPY BIRTHDAY TO THE LATE AUBREY MCCLENDON
I never worked directly for Chesapeake, although the first scholarship I received in 9th grade was sponsored by Chesapeake Energy (the first time I ever heard their name). And coincidentally the first job I had in the industry was working for a broker who did land service work for Chesapeake.
Aubrey’s commitment to Oklahoma oil and gas can be felt when you visit OKC and network with the many greats who came out of CHK.
THANKS FOR READING
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