Colby Williford is vice president of land with Momentum Oil & Gas in Houston, a company focused on geologic formations that run deeper than the Eagle Ford, including the Edwards Limestone, Glen Rose Limestone and Pearsall Formation.
He said the leasing for those formations involved blocks of land already leased for Eagle Ford production.
“Everybody was leased. You couldn’t just look at the courthouse and find the landowner that wasn’t leased. We looked for deep rights that had expired,” Williford said. “There’s multiple ways for deep rights to drop off and other rights to come open.”
That’s interesting. Whoever owns the lease on the current strata probably also got the lease for the deeper strata. As an attorney, I should have considered that angle. So when the top strata plays out, the drilling companies can just go deeper without having to haggle over the rights.
Question: could they use the current well shafts and just drill them deeper, or would they have to drill an entirely new shaft?
And guess who controls these leases? Obama. He’s going to use this “carrot” to reward his cronies. Big money, big oil is on the horizon in the US.