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Dimmit County, TX - Oil & Gas Discussion

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Dimmit County, TX - Oil & Gas Discussion

Oil & gas discussion group for those interested in Dimmit County, TX. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.

Website: http://www.eaglefordshale.com/counties/dewitt-county-tx/
Members: 106
Latest Activity: Jul 5

Discussion Forum

Completion Reports

Started by Clint Liles Sep 25, 2016. 0 Replies

Completion Reports

Started by Clint Liles Apr 22, 2016. 0 Replies

Completion Reports

Started by Clint Liles Nov 5, 2015. 0 Replies

Completion Reports-08/22/2015

Started by Clint Liles Aug 22, 2015. 0 Replies

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Comment by Jayne Burgin Stokes on May 30, 2017 at 2:13pm

Is it possible to specify for VERTICAL drilling only on my leased properties - negotiations...and anything New re: Gambit Leases being released by the courts?... thanks!

Comment by Jeffrey Clarkson on May 29, 2017 at 1:20pm

My brothers and I received an offer from Sanchez Energy for a small portion of T. & N.O.R.R. Survey No. 21, Abstract No. 779, as follows: 

OPTION ONE:
Bonus:  $350/acre
Primary Term:  3 years
Extension Bonus: $250/acre
Extension Term: 2 years
Royalty: 22.5%
or 
OPTION TWO:
Bonus:  $250/acre
Primary Term:  3 years
Extension Bonus: $200/acre
Extension Term: 2 years
Royalty: 25%
As part of the same request, we received a ratification for a lease on Farm Lots 39, 40, 41, 42, 55, 56, 57 and 58 in Section 169 of the Cross S Ranch Subdivision out of the Francisco Pereyra Survey, A-3. That lease provided for a $500 bonus and 25% cost-free royalty, with no extension term. 
When I asked the land man why we weren't getting the same deal on our lease as the lease we were asked to ratify, he said it was because the minerals are in different parts of the county. 
Should I insist on the same deal or something else entirely? 
Thanks for any help. 
Comment by Jayne Burgin Stokes on March 23, 2017 at 3:28pm

Does anyone know??
What is the status of Gambit Oil's former leases? ... are they still held by the bankruptcy courts? My leases have expired with this now defunct co.
Interested in rcvg new leases. And are there any VERTICAL wells being drilled into the Buda? I want to specify 'vertical only' - is that possible and recvd well by prospective Lessors...Any replies, much appreciated. Thank you :)

Comment by Geo Shea on March 2, 2017 at 1:24am

G C Gill, The Sanchez link I read was from your post of Nov 15,2016. Thanks.

http://investor.sanchezenergycorp.com/phoenix.zhtml?c=248475&p=...

Comment by Geo Shea on March 2, 2017 at 1:20am

G C Gill, Sanchez and Maverick (recent name change and goal change). In the past we have leased to Chesapeake, Farmland, Newfield, Sage and Union Pacific. Obviously different times and different mineral tracts. So not entirely new to the process. Everyone would like to have production from a lease. But, take Sanchez for example; they can drill, but, according to their stats, they have 335,000ac leased in the Eagle Ford play. (I got those figures from a Sanchez investor report...got the link off this forum). The number of actual wells producing/drilled/operating was small, in my opinion, vs prospective well sites available. So, are they just tying up lease ac? Granted there are some companies that try to lease up acreage and sell the "bundle" to production based outfits, for a fat profit of course. Anyway, I'm getting off tract. Sorry. Location request A-637 and A-1058. Survey names Newell and Votaw. It's late and I don't have the Block/Tract numbers in front of me. Hope this helps answer your question. 

Comment by Ed Cuellar on March 1, 2017 at 2:17pm

Thanks for that heads up William.  If you took their gas without paying for it they would come down on you like a ton of bricks.  All this info is what makes Forum's like this one so valuable. 

Comment by William Douglas Archer on March 1, 2017 at 11:11am

Ed, those horizontal wells nearby are generating a lot of oil and a lot of gas.

I would think you could get $1,500 per acre on bonus and 25% cost free royalty  I would be very careful with the royalty language as it relates to the gas as I had several deals with the big boy and they found a way to keep the gas and pay me nothing...

Comment by Ed Cuellar on March 1, 2017 at 10:16am

My property is about 6 miles SW of Asherton.  It is called Hidden Valley, Survey 47, Abstract 726.  I do not know how soon they intent to drill but there is production in all the ranches adjacent to mine by Cheasapeake and Lone Star Resources.  Thanks for the advise and hope this helps.

Comment by G C Gill on March 1, 2017 at 10:16am
Correction to my post 20 min ago. I hadn't seen Ed's earlier posts, then got Ed and Geo mixed up.

Geo, your bonus looks quite low. I would guess that it's a company speculating on the lease, and looking to flip it to somebody else at a future date. Most of us on the forum agree, that we would rather not lease to speculator companies, but lease only to operating company - one which drills and operates in the area.

Ed - I now see generally where your property is. Thank you. The bonus you are being offered seems respectable given the current state of the industry, commodity prices, etc. But as others have said, bonus should be 25%.

Good luck.
Comment by William Douglas Archer on March 1, 2017 at 9:52am

I would find out how much of the tract they have leased and when they intend to drill and is it permitted yet?  Also how many wells in the vicinity have they drilled?  If the answer to that is none, then they might be flippers...

 

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