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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: 246
Latest Activity: 22 hours ago

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Started by Leon Flores. Last reply by Leon Flores Nov 26. 8 Replies

I bought this property through Auction two years ago. Am not from Texas don't know anythingabout my property in Ward County, Texas. Last month I received a letter from this company,International…Continue

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 Paul W Nov 16. 112 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.

Ward County Section 174, Block 34

Started by mineral rights holder Nov 13. 0 Replies

Am wondering what fair signing fees are currently for Section 174, Block 34 in Barstow, Ward County.  Any thoughts or offers?ShawContinue

Block 34, Section 147, H&TC survey

Started by jim goodman. Last reply by Mike East Oct 22. 6 Replies

Anyone has sold or on verge of selling part or all minerals in this area? Thoughts on going price for HBP per net acre minerals and what company has been successful in acquiring same? We have between…Continue

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Comment by Clint Liles on September 23, 2017 at 11:02pm

Susan,   Try to be patient.    Jagged Peak has an approved permit as of August 16, 2017 for a well(37287 next door in Section 73 ending in Section 74. 

 

Patience is the word of the day....be calm....big smile...Christmas is not far off and you might have an approved permit for a Christmas present...Think positive.

GIS Map of Ward County Section 63/Block 34:

CLICK ON MAP TO ENLARGE

Clint Liles

Comment by Susan Van Siclen on September 23, 2017 at 10:20pm

I have mineral interests in Sec 63, blk 34. Jagged Peak has yet to send any royalty. January will be the expiration of their 2 year extension (based upon the date of their bonus check from 2016). Can anyone tell me what is going on there? Does it look like I may be looking to lease and if so what might I expect for a bonus?

Comment by TennisDaze on August 2, 2017 at 5:07pm

Mike, Did you lease your minerals in Section 1?

Comment by Mike on July 28, 2017 at 9:38am

Anadarko didn't get 70% of the acreage. They're securing operatorship of 70% of the wells which were subject to the JV. Their WI/NRI remains the same. 

Comment by Kenneth H. Wiese on July 27, 2017 at 11:21pm

This is in response to Richard Kyle Miller's question posted yesterday.

A 25%, 3 year lease means:  1) the lessor (usually the mineral owner) is entitled to 1/4 of the value of all oil, gas and other minerals which may be produced and sold from under the surface of the land covered by the lease for as long as it is produced by the operator of the lease and,  2)  3 years refers to the "primary term" of the lease, i.e., the time frame from the effective date of the lease during which the lessee must drill a well before the lease expires.

$10,000.00 per net mineral acre is the "bonus money", i.e., the funds paid up front to the lessor/mineral owner to sign and enter into the lease.  For instance, if you own 100% of the minerals under a 100 acre lease, you own 100 net mineral acres and are paid 100 x $10,000.00 = $1,000,000.00.  If you and one other person each own 1/2 of the minerals under a 100 acre lease, then you own 50 net mineral acres and are paid 50 x $10,000.00 = $500,000.00.

Hope this was not too rudimentary an explanation.  Good luck!

Comment by Robert F. Seiler on July 26, 2017 at 12:35pm

Anadarko and SWEPI ended their JV.  Anadarko ended up with 70% of the acreage - they announced second quarter results.  

http://investors.anadarko.com/2017-07-24-Anadarko-Announces-Second-...

Comment by Richard Kyle Milner on July 26, 2017 at 11:57am

When you say $10,000per mineral acre for a 25%, 3 year year lease, explain.

Comment by Jack on July 16, 2017 at 3:03am

I agree with all those on if it is a lease for $10K and 25% royalty then sign immediately.   BUT BE CAREFUL, make sure you are not signing a document that in some legalese the provision says anything about a 25% lease and then anything that would indicate you selling your interest at $10K per NMA.  Make it clear the bonus is $10K per NMA in the lease at 25%.  That there is no conveyance of rights. 

Just be careful. Read it carefully and get a 2nd opinion from an attorney, landman, accountant, oilman, etc., and make sure what you would be leasing and not deeding any rights.

Comment by Kenneth H. Wiese on July 12, 2017 at 12:08am

Mike, I have to agree with John Goode re:  the the offer of $10,000.00 per net mineral acre for a 25%, 3 year lease.  That is a lot of bonus money, even with really good wells near to or offsetting you.  I was in a situation in Loving County earlier this year that sounds pretty similar to yours, negotiated $6,500.00 per net mineral acre and thought I did really well!

Best of luck to you!  Ken

Comment by Mike East on July 11, 2017 at 8:28pm

John, thank you and how well I know.

 

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