I have an offer to sell minerals in Section 35 Block 38 and was wondering if there is any current information concerning new drilling in or below the Sprayberry trend.
This is presumably Block 38 Township 1 North?
If so, there is nothing happening there currently. If rigs keep running in the Midland Basin you will IMO get 20-ish horizontal Pioneer wells drilled there sometime between now and 2033 or so.
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Thank you for responding, the property is Block 38 Township 1 South not North. Iām just learning the RRC site and bureaucrats make everything convoluted hence difficult to navigate.
My mistake it is Township 1 North Section 35.
Yep, John, the RRC is no bueno.
Right, wrong, or somewhere in between I think people have convinced themselves that all of Martin County is going to get drilled up and thus Iād suspect that someone would be willing to pay you a decent price for your acreage despite the lack of apparent near term activity. The person/group that offered you may or may not be that someone.
This is a link which will open the RRC GIS Map Viewer on an oil well in your section: http://gis.rrc.texas.gov/GISViewer/index.html?api=31733463
To your southwest, there is a permitted horizontal well within 500ā of your section.
Maybe NMoilboy will expand on what ten or twenty horizontal wells in your section could be worth vs the amount you have been offered.
Perhaps de-risk by selling a fraction of your interest?
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