Mineral Rights Forum

America’s conversation place for mineral owners

Ward County, TX - Oil & Gas Discussion

Information

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: 236
Latest Activity: yesterday

Discussion Forum

Ward County Section 202 Blk 34

Started by David Kronick. Last reply by Linton Tomlin Oct 9. 1 Reply

Hello all - I sent this post the other day but not sure if I was in the right discussion - I am new to the group as of today and appreciate the dialogue.  I have a little under 6 nma in Ward County…Continue

Linton Tomlin:Ward County Section 72/Block 34/A-1324, A-1328

Started by Clint Liles Oct 6. 0 Replies

My Dear Friend Linton.....As of September 14, 2017 Jagged Peak has an approved permit next door in Section 61 going through Section 69 and ending in Section 33/Block 20.…Continue

MONROE 1-10 WRD 5H AND FINLEY 1-11 WRD 3H

Started by ROBERT FINLEY. Last reply by Barbara Paton Sep 28. 23 Replies

On February 6, 2016 I granted a Surface Easement to Shell Western E & P for a single drilling site to drill two horizontal wells listed above.  The Monroe 5H target zone is in section 10 and the…Continue

Keywords: Section, 11, County, Ward, Status

Block 34, Section 147, H&TC survey

Started by jim goodman. Last reply by jim goodman Sep 27. 5 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

Comment Wall

Comment

You need to be a member of Ward County, TX - Oil & Gas Discussion to add comments!

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.

Comment by John Goode on July 11, 2017 at 8:26pm

If you are being offered anything close to $10k an acre, I would take the $ in run.  I was part of a group leasing in Ward County last year.  We paid $2k - $3k an acre and everyone was happy.  Don't be surprised if this all comes to an end even if it doesn't seem likely.  History repeats itself.  

Comment by Kenneth H. Wiese on July 11, 2017 at 7:28pm

Mike, I am familiar with PBEX LLC and am acquainted with the Chairman and the CEO (I believe they are brothers), although I've never do e business with them.  Last I knew they were out of Midland.  Both have multiple companies and business interest.  My recollection is that, at the time I met them several years ago, they were mainly mineral interest buyers, although I'm sure they owned working interests as well.  Unless things have changes, I'd be surprised if they did any drilling of the kind of horizontal wells we're talking about on your acreage.  As far as I know, they are reputable folks.  I think one of them had even been mayor of Midland at one time.  Hope this helps.

Best, Ken

Comment by Mike East on July 11, 2017 at 7:10pm

A question for Ward County regarding companies and royalties.

I would like feed back on the following companies, BLACK OAK LAND MANAGEMENT AND PBEX, LLC OUT OF OKA. We have been approached by both to lease our M. R. at good dollars pmna, 3 years, 25% Royalty and no options.  Who are their primary drilling contractors and/or oil companies they do business with.  Are they flippers or active production companies.  All info helpful.  Black Oak dropped out at $10,000 pnma today.  In addition over the past 6 months we have been contacted by 18 or more companies interested in our land.  Most are fishing for a sucker to grab the leases at low ball rates.  I told one company "Show me the Money" to cut to the chase as we had several high offers, never got a response.  Several companies opted out of the lease process at $10,000 per nma.  I could provide a list of the contact companies if it will help other members in their negotiations.

We are proceeding slowly;

What offers have you heard of in Section 1 Block 1 area.

Regards

Mike

Comment by Kenneth H. Wiese on June 1, 2017 at 8:05am

This is a question for "TennisDaze" re:  his post of 22 May 2017.  There are both Phantom (Wolfcamp) and Phantom (Bone Spring) pools.  Am I to understand that the former includes all of the Wolfcamp formation and the 3rd Bone Spring sand and the latter only the 1st & 2nd Bone Spring sands?  If so, would this apply only to Ward County, or would it apply to Loving County, as well?

Kindest regards,

Ken

Comment by Kenneth H. Wiese on June 1, 2017 at 7:44am

This response is for "Lamont" re:  misc. 1099 income vs. royalty income.  I think the best bet would be to call each individual operator you receive or expect to receive royalty income from and ask them that question.  It might also be wise to run it by your accountant to find out whether it is consistent with federal tax law and/or acceptable accounting practices for an operator to even do so.

Good luck!  Ken

Comment by Lamont on June 1, 2017 at 6:34am

Does anyone know if operators who pay out royalties are willing/able to express the payout as miscellaneous1099 income instead of royalty income so that the recipient of the funds can set up a SEPIRA retirement vehicle?  

Comment by Mike East on May 23, 2017 at 11:11pm

Clint,

Thank you for digging up the information on the wells, much appreciated .

Mike

Comment by Mike East on May 23, 2017 at 11:10pm

Tennis,

Thank you so much for the material, it is what I needed for education.

Thank you,

Mike

 

Members (236)


Pro
 
 
 


© 2017   Created by Kenny DuBose.   Powered by

Badges  |  Report an Issue  |  Terms of Service