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Ward County, TX - Oil & Gas Discussion

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Ward County, TX - Oil & Gas Discussion

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

Members: 150
Latest Activity: on Friday

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Ward County TX Oil & Gas Permits

Started by Dave Thompson. Last reply by Clint Liles on Friday. 370 Replies

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

Section 63, Block 34

Started by Henry Van Siclen. Last reply by Wolfcamp Shale Jan 29. 3 Replies

Please help me understand this. Jagged Peak Energy wants to exercise a 2 year extension on the 3 year lease we had signed with KEW. Jagged is the successor in interest to KEW. They are matching the 3…Continue

BLK34Sec64

Started by James G. Parish. Last reply by Henry Van Siclen Jan 26. 1 Reply

What are the current going rates for Blk34,Sec64 area for a new lease term/bonus/%royalty in this area-about 7 miles due south of PyoteContinue

SEND ME YOUR BLOCK/SECTION/SURVEY NAME AND I'LL SEND YOU A PICTURE OF WHERE YOUR PROPERTY IS!

Started by Linton Tomlin. Last reply by william A harrel Jan 9. 35 Replies

I have a Ward County, Texas map on my wall, if you send me your block/section/survey, I'll take a picture and upload it here or send it to you at an e-mail address if you prefer.

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Comment by Wolfcamp Shale on January 29, 2016 at 9:53am

Luxe Energy acquires acreage in Ward County and Reeves County from Endeavor Energy Resources and Finley Resources : http://www.mrt.com/business/oil/top_stories/article_2ab2f30a-c61d-1...

Comment by Linton Tomlin on December 22, 2015 at 8:25pm
Got an offer today to renew a lease expiring the end of this month for $500/nma in Blk.34, Sec.74. Sure seems low. Any thoughts?
Comment by Mel Gierhart on November 25, 2015 at 12:14pm

Family estate received offer to do 3-D seismic survey on land located NW of Barstow.  The rate offered is $20/acre.  Is this a competitive rate?

Comment by Lamont on November 21, 2015 at 6:17pm
Yes, very well could be gallons. OK, that would make more sense. Then that would mean something like $10 dollars a barrel. Thanks.
Comment by Rock Man on November 21, 2015 at 1:49pm

NGL / plant product prices have been really low for the past few years - but what you are quoting is way low to the $7-$15 per bbl price I have seen.

Could this be really per gallon instead of per barrel? That would give you a reasonable NGL price number

Comment by Lamont on November 21, 2015 at 1:03pm
Has anyone heard of plant products selling for .26 cents per barrel? Does this mean it is basically water? I have a small interest in a well in Ward. The oil and gas production is low....like 2000 per month. The the plant product is like 10 to 15 thousand per month.
Comment by james h davis on November 6, 2015 at 3:55pm

I generally don't recommend a 2 year option as their may be a significant change in the economics and bonus prices at the end of year 3.

Comment by John Armstrong on November 6, 2015 at 9:26am

Thank you Mark!  After I submitted my question, I went back an reread an offer I received. Basically, the operator wants to amend the primary term on the existing lease agreement signed in 2013 for six years taking it into 2019. 

I should have read things better before posting my question.  Thank you for your time!  Now all I have to figure out is whether the $/acre offered is reasonable or not. 


Comment by Mark Benson on November 6, 2015 at 9:04am

Typical lease is a 3 year primary with a 2 year option.  I would not recommend doing a straight 5 year or longer lease.  You want to be careful to not let anyone tie up your acreage. 

Mark

Comment by John Armstrong on November 6, 2015 at 8:54am

Maybe someone can answer this question for me.  What is a typical primary term with option period used in a oil lease agreement?  Is it a three (3) year primary with a two (2) year option?  What are the advantages / disadvantages of a lease agreement with a six (6) year primary term?  Is a six year primary term commonly used?

It seems to me if a six year primary term is used, it basically saves the operator money by hot having to exercise the option and come up with more money.  Is this a logical assumption?

 

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