Field Development | Drilled Uncomplete (DUC)
Black Stone Inks DUC 'Royalty Relief' Agreement with XTO
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Black Stone Minerals has entered into a new incentive agreement with XTO Energy Inc. involving certain DUCs in the 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.
Mulling Further Development
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.
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