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Reeves County, TX - Oil & Gas Discussion

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Reeves County, TX - Oil & Gas Discussion

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

Members: 470
Latest Activity: 11 hours ago

Discussion Forum

Reeves County TX Oil & Gas Permits

Started by Reagan "R.T." Dukes. Last reply by r. eiland 11 hours ago. 804 Replies

Post, discuss and share information related to Reeves County Oil & Gas permits in the replies below.P.S. Thank you to Clint Liles for championing the effort to keep us all up to date. Continue

Lease rates and offers in Reeves County, TX

Started by Reagan "R.T." Dukes. Last reply by s mullikin on Wednesday. 844 Replies

Use this post to share and discuss your lease offers.  The more we know about what is being offered the better decisions we'll all make.  Share your bonus, royalty rate, and any other provisions you…Continue

Keywords: lease bonus, lease rates, lease offers, royalty rate, Reeves County TX

Escarpa Roja 57-T1-34

Started by susan huerta. Last reply by susan huerta on Monday. 7 Replies

I leased to BHP and from what I can gather a well is operating and had had production that I can track through Feb16. Who do I contact to inquire on royalties. It looks like it is a gas well but it…Continue

PSA Block 4

Started by mick h May 8. 0 Replies

Hello,Has anyone been approached by Silverback about a Production Sharing Agreement for Sec 47 or 48 Block 4?  If so, I would like to start a discussion among us, private or public.mickContinue

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Comment by Will S. Williams yesterday

Melissa, I second Linton Tomlin's comment! Wade Caldwell did a great job for me when I was in your shoes some months back. The fee is money well spent. In my case, he got me Much Better terms written into my lease and 3 Times the Bonus originally offered.

Best of Luck.

Comment by Marian Gage yesterday

Thank you Dusty for your help! 

Comment by Linton Tomlin yesterday
Melissa, I agree with Georgia, you can find Wade Caldwell on this forum and I'm sure he'd be willing to split his fee amongst all of you which would definitely be the way to go. He can answer all your questions and negotiate not only a good bonus, but prepare a lease that is more in your favor than the oil/gas company's.
Comment by Melissa Avery yesterday

Thank you all for your advise. I am going to go over each clause and diagram the things I don't understand/find questionable. Then reach our for professional guidance.

It is very complex, especially since I am in Maryland not Texas! 

Comment by Dusty yesterday

Melissa, I agree with the advice Wolfcamp Shale gave you.  I think some of your concerns may come from misunderstanding the offer. You said at the start you have a 1/8th in 160 acres and other family members are pressing you to accept this lease.  If any of those other owners who received the same offer have more knowledge about leasing I'd discuss it and see if they can answer your questions. But if all of you have the same level of understanding on this but they are just more anxious to get a lease signed, you might propose that your whole group agree to hire an attorney and split the cost since it would benefit everyone.    

Comment by Liz M. yesterday

Melissa, I second the vote for Wade Caldwell. This lease could be with you for the rest of your life so you definitely want to get it right!

Comment by Georgia Jones yesterday
Melissa- I recommend you talk to an oil and gas attorney and have them read the lease. I can recommend Wade Caldwell who helped me negotiate price and language. You have a valuable asset and should not take any chances with the lease.
Comment by Ann Whitchurch yesterday

Melissa, I've never heard of such and certainly would NOT sign something like that.

I will not lease for more than 3 years or lease with an option. 

I will give my Lessee the option to meet or beat any other offer I get.  IE I will not top lease without giving my Lessee this opportunity.

Comment by Wolfcamp Shale yesterday

If you ask the broker, which sounds like yours is R&J Graham Energy, to produce an offer letter that describes the specific time frame that they will pay the lease bonus, and the total amount of the check, they should be agreeable to this. If you want even more protection, you could hire an escrow service, but I think that would be overkill as it is well established that R&J and the other Apache brokers are paying the bonuses. As to your other question, the oil company cannot enter the premises after the lease expires. A lease will last beyond its primary term in accordance with the terms of the lease, and that is typically for so long as there is oil and gas production or operations occurring, or a well is shut-in and shut-in royalty payments are being administered. You are being compensated in those scenarios by the royalties you are receiving. There are so many other components to the oil and gas lease to take into consideration. If you are not familiar with the nuances of pugh/retained acreage clauses, warranty of title, etc...then at the risk of sounding like a broken record, you need to hire a professional.

Comment by Melissa Avery yesterday

Wolfcamp

Thank you for your words of advise. Yes I am new to all of this. That is why I am being extra careful. I do not want to sign up for a bad deal.

I am very concerned that I was offered no payment schedule and the oil company can use the land indefinitely, without compensating me. Is that a standard inclusion in a lease?

 

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