I have received bonus offers on properties in Ward County (Section 30 Block 34) and Winkler County of $1000+. Both properties are located along the same general south to north line. They run from in general Pyote, Texas (Ward County) to Wink, Texas (Winkler County).
They both lay in between the Permian and Delaware basins. They have formed a squeeze of the traditional formations like the Sprayberry and Wolfcamp. Any idea what the bonuses in this area are going for?
That area is extremely risky for any operator because of how close you are located in Ward County to the Central Basin Platform. It is possible to make good wells up by the platform but no one has done it yet. I have doubts that anyone will try until the price of oil increases. Halcon did a well fairly close to the platform and it seemed to have worked. Beyond that I cannot tell you what the price for bonus should be. Make sure you get a 25% royalty.
Would you please indicate the Section and Block in Winkler and Survey.
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