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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: 678
Latest Activity: 57 minutes ago

Discussion Forum

Question regarding option right to extend lease

Started by Randall B 57 minutes ago. 0 Replies

Let's say the company that leased your minerals has an option right to extend the lease on your property for two years. And they choose not to exercise this option because they no longer are focused…Continue

3-D Seismic Surveys

Started by David Smith. Last reply by Kenneth L. Haag 4 hours ago. 3 Replies

We have received two different permit requests for 3-D Seismic Surveys. The offers are for $16 and $20 per acre. Property is Reeves County Block 50 & Block 49. I did a quick search and did not…Continue

Well Location Not On The Producing Lease

Started by Stephen. Last reply by Stephen 4 hours ago. 2 Replies

I just noticed a new well permit and it is being drilled on acreage I own 1258 feet from my southern lease line.  By the look of the permit, only the section to the south will be produced.My…Continue

w/2 Section 1, BK 54-T7, TP Survey

Started by Anne Hicks. Last reply by Randall B 16 hours ago. 3 Replies

Hi there - I'm new to this forum. I have been receiving offers to buy my mineral interests in the above tract. The offers are around 12k/nma ... which seems a little low to me after reading the other…Continue

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Comment by Paul Stockman 5 hours ago
Any sense of the going rate for sales in Tract 15 Block 7 of the H&GN Ry grant? We have net 80 acres held by production and are getting lots of unsolicited offers...
Comment by Rob Black-Dunigan yesterday

Hello all, I have negotiated two Easement agreements in Reeves county this past year. Now a third company has made a proposal in the same busy corridor (Sec 17, Blk C-19). The first two Agreements were for  "non-exclusive" easement. This third proposal requests an "exclusive" easement. Now I am realizing I do not know what that terminology refers to or how important the difference may be--exclusive vs. non-exclusive. The proposal does have a clause allowing the company to assign to another company. I am a small interest owner of the land in question. My thanks to one of you professionals who can answer this question for all of us! [I have also posted this in the Right of Way Owners Group]

Comment by Louise Welch on Friday

M A Smith,

that is the amount that I got too. Another company about 5 months ago did the same offer and I accepted that one too. So, it was nice to have two of them surveying the land. I was just hopeful that it will be fruitful to me, as I have had this land for a long time....thank you for the information about Vector. Have a great day...

Comment by M A Smith on Friday

Louise,

Vector was bought by Schlumberger, so you are dealing with a large, reputable company.  We were approached a couple of weeks ago regarding our acreage in Block 59 PSL.  They are doing a very large 3D survey to the SW of and tying into their existing surveys of Reeves County.  The website below shows the boundaries of the older surveys.

http://www.multiclient.slb.com/north-america/lower-48-states/texas/...

They were offering $20/acre, which, after some research, I accepted.  It is important to note that it was non-exclusive so I am not precluded from signing another deal with another seismic company (not holding my breath).

I hope this helps.

Comment by Charles Emery Tooke III on Friday

Ron Dhillon - 

I found your family an offer of $1,000 an acre, but never heard back from Jasmir.

 

Comment by ron dhillon on Friday
We like to sell surface rights of our land sec 1 blk 112 ab 1571 in culbersion county about 467 acres
Please text me about interest 9163033640 thanks Ron
Comment by Louise Welch on Thursday

M A Smith,

yes, one is Vector. Is that a good thing or bad?

Comment by M A Smith on Thursday

Richard,

You are correct.  I slipped a decimal.  Good thing I don't work for NASA.

Comment by richard roberts on July 19, 2017 at 4:37pm

hello, thank everyone who is watching the local drilling news and posting maps and links.  i appreciate that some of the same maps and links get re-posted and know that must take patience to keep posting the same links but, believe me, i am one of those who is always grateful for re-posting of links.  i found that map interesting of top producing reeves wells and i enjoy reading the news postings. we have surface and minerals in this area:  Sect 11, Blk 3, H&GN RR, Reeves.  as one who does not use the maps and menus so well, is this area near activity?  also, as an opinion, i read this article yesterday: http://oilprice.com/Energy/Oil-Prices/Oil-Market-Rebalancing-Hasnt-... and wonder if maybe it is not time to sell minerals?  i see news where volvo will only make electric cars in 2019 (if i understand the news correctly) and that ecuador has announced they are not holding with opec any more?  is it possible this is the edge of a long decline in value of our lands and perhaps we are seeing a peak in prices being offered for purchase?  as someone on the edge of retirement i would kinda hate to be stuck with a pig in a poke.  we have close to 24 acres so it could be some good money to make a move now especially if prices go lower than can be drilled in the area - i wonder what the price per bbl break even price is nowadays??  regards to all and thanks for the postings and replies.

Comment by Richard Saxton on July 19, 2017 at 3:29pm

sb .001953125 right ?

 

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