Anyone else get an offer from Arroyo for W/2 Section 29, Township 21S, Range 27E? I heard a few years back they wanted to drill under the city. There is an old La Huerta well there I believe. Any insight?
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I got a letter from Arroyo for my late father’s mineral rights in La Huerta.
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Wonder what going on? Drilling maybe?
I’m not sure, I don’t live in Carlsbad anymore. I’m having a friend check around and see what is going on. I remember a while back there was talk of a directional well drilling under the La Huerta area. Maybe they found an oil pocket.
I hope so! It’s only 2 acres though.
Mine is 2.5 acres. They offered me $20k.
They offered us like 19. They will go a little higher than their offer to you I bet. You have a half acre more.
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Remember that horizontals have a larger spacing allotment and you may be looking at additional infill wells down the road. Most buy offers that I have received have been lower than the actual royalties that I received by hanging onto my acres.
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Mewbourne and Devon drilling pretty good wells in eastern 21s27e.
Mewbourne had a pooling hearing in Feb '24 for Elysian Fields wells in Section 29/30 (case 24275 & 24276), so that coupled with extrapolating the good results to the east out into western 21s27e means it’s worth a shot to try to buy minerals there prior to drilling.
Probably should get more than $8k.nra.
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