Look Who is Joining the Party--BP

[ShaleGeo]

Not sure how much leasehold they have or what JV's they might have, but BP is another Gorilla. They just applied for their first HS unit--see attached.

[Les B]

Jay, I have been waiting for those guys to show up. They inherited a good acreage position in the Logansport area from the Amoco or Vastar merger.

[Skip Peel- Independent Landman]

Jay. This play could use a gorilla or two about now. Thanks for the heads up. Les. Any idea why BP has waited until now?

[Les B]

Skip, I would bet their acreage is HBP so no need to be in a rush. Plus they are having to spend a lot of their capital in the US on their commitment to Chesapeake under the Fayetteville Shale deal and they bought the big position last year in the Woodford Shale. Finally with the Tangguh LNG project coming on line this year that will let them shift more capital $$$ to the US.

[Skip Peel- Independent Landman]

Les. I agree on the probability of BP's leasehold being HBP. However, even with no intent to fully develop prior to now, I would have expected a test well. Then again, a good reason for remaining out of the public eye could be the acquisition of additional leasehold through a third party.

[Jay Murrell]

Hi Skip, Spider is my back yard. BP is the successor to leases that have been HBP since the late 70's (and before). Hosston and Pettit production. St Mary also has a position in Spider/Grand Cane. Continental Resources (Oklahoma) has several 100 acres down there too.

Jay Murrell

[Skip Peel- Independent Landman]

Jay M. Any idea of the extent of BP's legacy leasehold in the Spider Field? And are you aware of any current leasing by BP in the area?

[Jay Murrell]

Skip, There are no leases to be had. Between BP, St Mary, and Continental everything is buttoned up. There might be some open acreage on the S fringe of Spider outside of the Hosston production, but that will be pretty picked over and if its not leased the title is a go-de-bow goat deal (a little Okie lingo there)

Jay M

[Skip Peel- Independent Landman]

Thanks. I wouldn't touch that goat and Okie line with a ten foot pole.

[Jay Murrell]

you must know what they do to the goats (>>:->

[Deb Murray]

Does anyone have the sonris link to check on the wells, drilling, producing, etc.

[Jack Blake]

aaaaaaaaaaaaa

[ShaleGeo]

I agree with Les B. They acreage is old Amoco acreage and should be HBP. Remember it used to be called BP/Amoco but the Amoco is silent.
Jay