J Richard Pennington, RPL

J Richard Pennington, RPL Petroleum Land Management

03/02/2026

The Yancy 2 H gas well, about 10 miles northwest of Grapeland, has recently been completed by Expand, formerly Chesapeake.

In 2005 a lot of activity regarding Deep Bossier and Hayesville shale plays was going on. When the Shreveport area all of a sudden started producing lucrative Haynesville gas wells Chesapeake folded up their tent in Houston County and moved operations to the Shreveport area.

It looks now that Expand is taking up where they left off in Houston County. This has the appearance of a slower more steady longer-lasting project. Or not, its the oil and gas business, right.

01/17/2026

Mitsubishi is acquiring Aethon. Land grab coming when other
foreign entities get in the game?

Driven by AI demand for power, and demand from Japan and Europe. When infrastructure gets in place we will be looking at a global market,

08/16/2023

I closed my position in the stock of a Permian based company I bought months ago. The outlook for this company seemed good to me; but, in the interest of being conservative, I realized a capital gain. Now may be a good entry point for the right oil and gas producer in the Permian. I'll be keeping an eye on temporary weakness as a possible entry point.

06/11/2023

I believe current shale plays for natural gas are becoming depleted in many areas of the U. S., except for the Permian Basin. Natural gas prices are still at relatively low levels.

Low cost producers can still sell their product at a profit. It's impossible to predict the future of natural gas prices; but, many agree that global demand will eventually cause prices to rise.

When more liquification plants come online, this infrastructure will unlock a significant amount reserves in the United States that can supply Europe and Asia.

I have personally invested in a Permian Basin based company with a low cost of production--because it has a good yield, and; I believe it has a good potential for being bought out by a larger producer.

Why do I say this? Being a landman, I have personally seen how expensive running title and buying leases on new plays can be. That's just in the land aspect. This makes buying companies with established reserves and low production costs a good way for the large major oil companies to grow stockholder value.

I'll keep an eye on it; and, will keep you posted on anything I come across that I think may be of value to you.

Later,
JRP

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Crockett, TX

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