Overview of the Derden Oil and Gas Lease, Navarro County, Texas- page1.

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Shallow Oil Prospect

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Paid Up ,Oil and Gas Leases, all depths, 3/16 royalty covering 159 and 154.3 acres. Two adjacent leases.
A total of 313.4 acres (Commonly known as the Derden Lease. Book 206, Page 710., Deed records, Navarro County)

Lake Halbert, constructed in 1918, a City of Corsicana property that covers much of the surface.
Considerable shoreline, 65 plus acres exist. Eleven producing wells and then plugged wells are documented..
 
Our interest is, for a money consideration, assign this lease to a firm and/or individual that has the knowledge, ability and financial resources to employ modern drilling technologically to develop this lease.

The 313.4 acre Derden Leases are an excellent prospect for shallow vertical oil wells and a prospect for horizontal drilling for the oil under Lake Halbert at a future date.

Magnolia Petroleum Company, (charted in 1911), had a 800 acre lease in Navarro County, Texas. Part of that lease was the Derden Lease.
Wells were drilled on the Derden between 1912 and 1917 .In 1918. 313.4 acres of the land was sold to the City of Corsicana
for Lake Halbert. The Derden family heirs retained the mineral rights.

Four (4) wells were left on the shore. They were Derden 22, 23, 24 and 25.

No records of depth of well or production figures are available for any of  the early Magnolia Petroleum wells.

At lest the number of wells; Derden 1 through 21 were producing, and plugged in the area where Lake Halbert now exists.

In 1962 Southwestern Hydrocarbons ,a new lessee plugged three of the four wells left on shore by the Magnolia Petroleum Company lease.
Derden well #25 .was in the WR Bowen Survey, another area of the lease. It was plugged later

Five (5) wells were permitted and drilled by Southwestern Hydrocarbons and later operated by Crown Central Petroleum..

The lease was ID number 349-00268., containing wells API-80650 through API-80655

Crown Central Petroleum plugged #80650 in 1668, #80651 in 1969, #80652 in 1973, #80653 in 1973, #80655 in 1980.

44,321 bbls of oil was the cumulative production  for the Derden Lease prior to plugging of all wells.
J. N. Shelton Drilling Co. drilled two (2) wells in 1985 at a depth of  834 ft and 780  ft with the potential of 5.37 bbls and 2.5 bblls respectively. They were API-349-33812 and API-33998. That is lease ID #349-02731
The price of a barrel of oil dropped to nine dollars ($9.00) in early 1986 and the lease was abandoned.

This is the approximate outline of the Derden Leases

This is the approximate boundary of the 313.4 acres Derden Leases.
The Derden mineral interest owners are inspecting their new oil wells. This photo was taken in December of 1985.
This well produced 5.37 bbls

Get profitable production now!

This lease contains eleven plugged oil wells.The available completion reports of API 349-80650 and API 349-33812 idicate 6 and 5.38 BODP initial production.
Drilling new Nactoch shallow wells near the north portion (near the dam) of the lease could provide a good return for the effort.

Field Rules, Corsicana Shallow are:
Acres per unit., 2. Well spacing, 0.

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LAKE Halbert was dug in 1918.

The City of Corsicana bought the land and the existing wells were plugged.
This lease was part of a producing 700 acre Magnolia Petroleum Lease.
The TRRC has no or little information on old Magnolia wells.
Here is information: US Geological Survey, 1917.
Lease was producing oil in 1986.
The oil is still there.