Culberson County, TX - Oil & Gas Discussion

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Comment by Stephen Long on February 7, 2012 at 6:44pm

First off, do you need or want to access the bonus money?

If not, you can wait and keep your fingers crossed.  This really is an interesting process.  The good news is that Petrohawk is permitting wells and spending money.

Good luck.

Comment by Charles Wolcott on February 7, 2012 at 4:52pm

I have a tract in Blk 55 of Culberson Co. near the Reeves Co. border. I received an offer of $1200/acre, but for only a 20% royalty for a 5 year lease. A friend with a large property in western Reeves Co. advised me to hold out for $1500/acre for a 25% royalty for a 3 year lease, but at that level, the prospect decided to hold off on pursuing the lease. Most of the land surrounding my property is leased by either Petrohawk or Conoco-Phillips, with 25% royalties and 3 or 5 year terms, but I do not know the bonus payments on those leases. I'm hoping that the action continues to move my way... but at $2.32/MMBtu, who knows when that will happen.

Comment by Vangie A. on January 18, 2012 at 5:37pm

I had an offer from Legend back in June of 2010. It started at $250/acre. While negotiating, another company started calling--forming a little bidding war. A week later we closed it at $575/acre with 24% royalty, 3yrs w/ 2 yr option.

In August 2011, fed ex arrived with a letter to assign 50% of our mineral lease to Petrohawk, now a subsidiary of BHP. I called the Land Manager at Legend and asked his intentions with our minerals and he said--"should be permitted in January 2012"---to call back for an update in Nov.  When I called in Nov. he said they would not drill this round but probably the next round (July 2012) if new wells in area are doing well. HMMM.

Our minerals are located in Culberson county sec 20, blk 58. Does anyone have info on production of Petrohawk wells in the area close to our section??

 

Comment by Louise Welch on January 5, 2012 at 5:10pm

I have land close to Culberson. Mine is in Sec 8 blk 55 township 4. I leased my land in Oct 2010 for $800.00 an acre with 25% for 3 years with an option for an extra 2 years. My land is state classified so I think the state really decides if we have a lease or not. I am learning as I am new to all this and would appreciate all the help I can get too. Thanks all...

Comment by Stephen Long on January 5, 2012 at 4:31pm

Also, well permitting appears to have really picked up.  Big companies, too which I find reassuring.

Comment by Kirk Salmon on January 5, 2012 at 4:14pm

Yes it certainly piqued our interest as well.  However in looking at some of the bonuses given out in Reeves I believe it can get better.  Now I know Reeves and Culberson are two different areas but the sections I have are right near the county line.  And you should never take their first offer I have quickly learned.

Comment by Stephen Long on January 5, 2012 at 3:37pm

Thanks for setting this up!

We have a couple of small tracts in BLK's 42, 60 but have not been contacted.  Devon appears to be the most likely candidate.

Comment by Buzz Van Meter on January 5, 2012 at 2:18pm

Kirk -- I have no direct interest in Culberson.  However, your $800/ac offer piqued my interest!  I did locate your properties as being ~16 miles SW of Orla and ~36 miles NW of Pecos... if that's not about right, let me hear.  Good luck!

Later -- Buzz

Comment by Kirk Salmon on January 5, 2012 at 2:00pm

Welcome one and all.  I look forward to communicating with other individuals with mineral interests in Culberson county.  Please feel free to comment, ask questions, and share your story.

Kirk