Hi,
Our 3-year Lease for on: (A-3929 PSL C-18 Section 5) is expiring next month.
I believe lease is with BHP. (originally started with KEW drilling).
Is anyone aware if they are exercising the 2-year extended Lease Option??
Thank you,
Lea Pack Scalf
Lea- Go back in the main Reeves County thread to Dec. - Feb. and there are some maps showing what BHP is keeping versus what they are trying to sell, which means they are unlikely to renew unless they find a buyer. BHP did not pick up the option on the majority of our acreage.
Yes, BHP quickly exercised the 2-year option on our lease in C-18 Section 4.
Thank you both Wade & Fred! I guess we’ll find out soon enough next month if BHP wants to exercise the 2-year option on our lease! Not worried either way, just curious. I know the demand is high in our area so it’s just a matter of time. 
The 2 Year Option to extend date came & went last week, with no extension from BHP.
BHP never contacted us, nor sent us a check.
So, hopefully I’m reading the original Lease properly (which was originally signed with KEW drilling), and understand that we regain control of our net mineral acres!!! which is what we wanted.
The 2 Year Option to extend date came and went last week, with no extension from BHP. BHP never contacted us, nor sent us a check. So, hopefully I’m reading the original Lease properly (which was originally signed with KEW drilling), and understand that we regain control of our net mineral acres!!! which is what we wanted. Best of luck with your property. Maybe a new company and new lease will be forthcoming.
fred klein said:
Thks Fred! KEW Drilling got our Mom to agree to a lower NMA & royalty bonus in 2011. Our Mom has since passed away and now the lease is with me, my sister, and our cousins. And now that I joined this Forum and researched, I have much better understanding of the value of our NMA in this area of Delaware Basin in Reeves County. Thanks!!
Lea Scalf said:
The 2 Year Option to extend date came and went last week, with no extension from BHP.
BHP never contacted us, nor sent us a check.
So, hopefully I’m reading the original Lease properly (which was originally signed with KEW drilling), and understand that we regain control of our net mineral acres!!! which is what we wanted.
Best of luck with your property. Maybe a new company and new lease will be forthcoming.
I finally found that BHP map showing what they are “divesting” and their “focus area”.
I believe our NMA in Block C-18/Section 5 are located in their Focus Area, yet they did not contact us to renew our lease which expired end of June. Bit odd?