This is the first time I have received such an agreement. I assume it is OK to agree, but is there anything I should check for? The only discrepancy I can see is the amount of acres described on the survey (Juan Ximinex 200 acres) and the number of acres as indicated on Exhibit provided by EOG (tract indcates 139 acres for the survey). This agreement pertains to the Lang Unit. If anyone has any helpful info....I have not received any informations since I signed the lease last year. Thanks
CK your lease to see if it differs and how. I believe if you sign a pooling agreement, it overrides what your lease states reference pooling. It may or may not make a difference.
I would get professional O&G help, especially if you are mostly or entirely in the drillsite tract. Pooling 200 acres may seriously dilute your royalty. If you have acres that will not be pooled I would want mine included in the pool if I were to be asked to approve these acres that evidently were unnesessary from the beginning of drilling the well. Don't buy into the smaller piece of a bigger pie garbage. You have no guarantee that another well will ever be drilled. If the other 61 acres are your acres, please disregard, because in that case it is undoubtly a great idea.
Hi.. It's so confusing- all of it. I'm experiencing the same thing. To ratify or not to ratify. In Texas, if you aren't the surface land owner and have no power to lease- you can either sign or not... Isn't the latter too risky?... I'm new to this, pardon. Thanks L Smith
r w kennedy said:
I would get professional O&G help, especially if you are mostly or entirely in the drillsite tract. Pooling 200 acres may seriously dilute your royalty. If you have acres that will not be pooled I would want mine included in the pool if I were to be asked to approve these acres that evidently were unnesessary from the beginning of drilling the well. Don't buy into the smaller piece of a bigger pie garbage. You have no guarantee that another well will ever be drilled. If the other 61 acres are your acres, please disregard, because in that case it is undoubtly a great idea.
Tim,
Lang = 1300 acre unit : This is a huge one, and EOG will be laying a BUNCH of wells on it. First of all, CONGRADULATIONS! My land is close and to the immediate north-east of yours (Three Oaks area, DG Flores survey) - also leased by EOG. We have been waiting patiently 3 years for EOG to tunnel under ours!
Now, are you saying that EOG only wants to include 139 of your 200 acres? EOG has all this area leased up, and they are looking to lay wells in as densely as possible (just look at Casares, Borgefeld, etc to the immediate east) to get every drop of oil out, so rest assured that (eventually) all your land will be producing. To get horizontals in as tightly as possible, units need to end up square or retangular, so part of your property may need to end up on another unit (all part of their plans). True, it may be a year, or years before the other has a well on it, but if I'm you, and 3/4 of my land is going to be part of a 1300 acre unit that will get 10-15 wells lined up on it, I'd be setup on the corner serving ice-cold lemonade to the EOG workers every single day!
Casares & Borgefeld already have a HUGE pipeline connecting to the coast for refining, and LANG will tie in to this - All part of EOG's big plans, and EOG is gonna do what EOG is gonna do, so go with the flow!
Again, Congradulations!
Tim, look at these: (click highlighted links towards bottom to see more info).
Is your 200ac on the the Baptist Foundation or Pawelek tracts?
Karnes
Timothy W Houston said:
Yes LE, it is all confusing, but FYI I did sign a Ratification recently and it worked out OK. What county is your Ratification from?
Hey Tim, did you look at those two links, and then click the links (at bottom) on what pulls up? Click the PLAT link, to see a map, which shows the well-bores. . . . .
Looks like part of your acres are in Atascosa county, which might be why not included on this unit, as it looks like they are keeping this unit completely within Wilson Co. Well-bores are running exactly parallel to Wilson/Atascosa county lines. You'll see all this on the PLAT map, linked from above (your computer must be able to open TIFF type files). Is your property named under 'NICHOLS RAY C TRUSTEE' - sound familiar?
Timothy W Houston said:
We are on the Juan Ximenez Survy, Tract #2. It indicates a 139 acres on the but the survey was for 200 acres. I do not understand the discrepancy or if it is of any concern. Thanks for the infor. What tract is the actual well on?
oldoak said:Tim, look at these: (click highlighted links towards bottom to see more info).
Is your 200ac on the the Baptist Foundation or Pawelek tracts?
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
What abstract # is that, Tim? I'm not familiar w/ the name. Our minerals are outside Kenedy.
Timothy W Houston said:
That is the same county I recently signed a ratification last September. It involved the Willis Orton Survey, sound familliar?
L E Smith said:Karnes
Timothy W Houston said:Yes LE, it is all confusing, but FYI I did sign a Ratification recently and it worked out OK. What county is your Ratification from?