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Oil and Gas Summaries and Presentations
February 2, 2008 |
| Sam Collier, historian and author of North Caddo Parish, delivered a pictorial guide to the history of the oil and gas industry in the Caddo Lake area. Since 1895 the region has seen oil and gas production. Many towns flourished and declined as oil was found and drained. In 1911 Gulf Refining Co. drilled the first known off-shore oil-well on Caddo Lake, ushering in a new era of exploration under the Lake. Sam Collier’s book is available on Amazon.com. |
Caddo Lake Area Petroleum Industry: Historical Summary
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Philip B. Baldwin, Jr., an attorney out of Marshall, practices primarily in oil and gas law and has represented both oil companies and landowners in disputes. Mr. Baldwin discussed the changing oil economy and what that means for exploration and production in the Caddo Lake area.
The price of oil has reached $100/barrel – Mr. Baldwin predicts that in the next 50 years we will see the price of oil rise to $150-200/barrel. Mr. Baldwin explained that the Caddo Lake area sits over numerous formations with trapped natural gas, and he discussed different geologic layers. Audience members asked if they’d see wells in their backyards. Baldwin responded that they would likely see many new gas wells drilled. Mr. Baldwin told the audience that Texas is a state that gives preference to mineral exploration – those that hold the mineral estate are “dominant” in their ability to use a piece of property over surface owners. The Texas Legislature passed a new law in 2007 that requires that owners of the surface estate receive notice of proposed mineral exploration within a certain number of days of the submission of a drilling well application to the Railroad Commission.
Baldwin explained that because of the equipment needed, a gas well site generally covers 300’ by 300’ with a pit at the end that is required to be lined. The natural clay of the area can be used. He said that if you are dealing with an oil & gas operator, it’s best to get someone knowledgeable to help you negotiate surface compensation. |
What Every Mineral Owner Needs to Know About Oil and Gas Production in East Texas
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| Mike O’Quinn from the Texas Railroad Commission gave a presentation on the Commission, its history, role and function. Founded in 1891 to regulate the railroad industry, over time the Railroad Commission was given the responsibility to oversee gas pipelines, surface mining, and the oil and gas industry. It is governed by 3 Commissioners, elected statewide for staggered 6-year terms. Though the RRC regulates the Oil & Gas industry, it does not regulate issues regarding royalty interest, noise, traffic or other nuisances. Instead it regulates how wells are to be completed, cemented, and cased, and their proximity to each other. Advances in well technology are allowing more directional wells, which will allow wells to drill under a lake or a home. |
No presentation available |
Additional Information:
Trends and Facts in Oil and Gas
Richard Lowerre, Caddo Lake Institute
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