Jun 15 2020
Black Stone Minerals, L.P. ("Black Stone," "BSM," or "the Company") today announced it has entered into a new incentive agreement with XTO Energy Inc. ("XTO") with respect to certain drilled but uncompleted wells ("DUCs") in the Company's Shelby Trough acreage in San Augustine County, Texas.
The agreement allows for royalty relief on 13 existing DUCs if XTO completes and turns the wells to sales by March 31, 2021, and complements the recent development agreement with Aethon Energy covering the Company's Shelby Trough acreage in Angelina County towards Black Stone's goal of reviving volume growth from the area.
In addition to the agreement covering the DUCs, Black Stone is actively evaluating alternatives to encourage further development activity in the Shelby Trough in San Augustine through a combination of working with XTO and utilizing the Company's available acreage position and contractual rights to bring in a second operating partner. Interested parties should contact Philip Beck at [email protected] for more information.
Source: https://blackstoneminerals.com/