Black Stone Minerals, XTO Ink Shelby Trough Agreement
Black Stone Minerals has entered a new incentive agreement with XTO Energy Inc. relating to select 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; it also complements the recent development agreement with Aethon Energy covering the company’s Shelby Trough acreage in Angelina County towards Black Stone’s goal of revitalizing volume growth from the area.
Separately, Black Stone is reviewing alternatives to encourage additional development activity in the Shelby Trough in San Augustine through working with XTO and utilizing the company’s acreage footprint and contractual rights to bring in a second operating partner.
Black Stone Minerals currently owns mineral interests and royalty interests in 41 states in the continental United States.
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