Three Rivers selling out - I understand the buyer is Admiral Permian out of Midland. Three Rivers has had themselves up for sale for a while.
http://www.iii.co.uk/alliance-news/1519031888839755300-3/riverstone...
Concho selling acreage and doing land swap
Concho selling some Ward and Reeves leases to Luxe and Colgate, and doing a land swap on Culberson acreage. Speculation it is with Chevron.
https://www.oilandgasinvestor.com/concho-resources-permian-swap-sale-consolidation-1687036
Friends,
How do I check what I own on the land, mineral rights vs surface? Really thought we bought the rights to all but a journeyman is telling me no. How do I confirm this?
Thanks in advance!
https://www.kallanishenergy.com/2018/04/23/admiral-permian-closes-on-59000-acre-buy-in-the-permian/
Admiral closes on purchase of Three Rivers acreage
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Received an offer from MMB Energy, LLC
S/2 Section 34, Abstract #6863
Section 16, Abstract #6862
Bonus Consideration: $750.00 per net mineral acre
Lessor Royalty: 1/5th
Term: 5 years
any advice?
Re: MMB Energy offer
This area is due south of the main industry horizontal activity in Culberson Co - but it is also an area where Apache has drilled 6-7 horizontal wells in the past year. I figure that MMB is leasing for Apache - they have several leases listed as being filed in this area in the records I can view.
Bonus and royalty info is normally not public data, but I will safely say that the 20% royalty is low - I would go for 25% royalty.
To me, the $750 per nma is low - I would push for at least $1500 per nma.
But even more important is to get a good lease with depth severances / pugh clauses and the right "cost free" working to avoid production charges.
Get an experienced O&G attorney to look at any lease - and make sure is aware of the intricacies of the "cost free" issue.
Good luck on this!