The simple answer is you can have as many different leases as there are owners of the mineral interests. The practical answer is that companies will usually only sign a lease if they can assemble enough acreage to meet the minimum spacing requirements for that field. You can also have two leases on the same property, one for the shallow rights, and one for the deep rights. In short, there are so many variables that it is not really possible to answer the question with any certainty. Maybe more detail on your question would enable us to help you.
If there are many fractional owners, you can theoretically have one lease for each owner. Are you asking how many different companies can have leases in a single section?
Once a lease has been signed how do we find out what is going on with drilling, if they hit anything, etc? We have 2 leases signed. One was back in October of 2010 and the most recent was in mid 2012 and they are with two different companies.
Wade thank you and I guess I thought this might be the case. I am sure they have much better things to do than field questions from hundreds of owners wondering if they hit anything yet.
Unless you have a clause in your lease requiring notice of intent to drill, you may not hear anything until you get a division order in the mail. Some operators are,more owner friendly, but in general they don’t like having to field questions from owners.
If you own forty acres in Section x, BlockY, you will own effectively 1/16th of the royalty. So if you leased for 1/4 royalty, you will receive 25divided by 16 = 1.5625% of any wells drilled on that section.
If the section has been formed into a unit. Otherwise it depends on where the wells are drilled within the section.
I am wondering if there is any leasing activity there?
Anybody have any idea as to what Lease bonuses and prices are going for in Mid-East to North East Culberson County are? A friend of mine owns a ranch there and I am wondering what a good competative price is for that area. He has been approached by Petrohawk and Cimarex.
25% and the bonus goes up the closer you are to existing bone springs drilling. Also have heard of a lot of leasing activity along the Reeves county line. Interesting that Petrohawk is leasing since they are trying to sell most of their Culberson acreage.
Clearly BHP has aggressively moved to the North Reeves area and now into Culberson County? Cimarex, ConocoPhillips etc., have more than they can handle up north. The more new entrants into Culberson, the better.
My wife inherited land in Block 55 in Culberson County? Is there any potential activity in this area?
Check out the Reeves County threads for links to the articles about Petrohawk trying to sell much of its Culberson and western Reeves leases.
I did check the Reeves County threads. Thanks, Wade and Stephen.
Would be interested in hearing any new leasing offers in Culberson. Please share if you know of any.
Indeed, anyone have any more thoughts about where the south end of Block 58 T2 is going?
Stephen, Yes, activity has picked up outside of northern Culberson County.
Wade can you tell me of any activity and the general area in the county that sec.4 block 58t&pr ry co is. Just curios cannot get a plat map
Would be nice to see a well south of the ConocoPhillips/Cimarex acreage.
Stephen – would this fit your pistol?
BHP Billiton - Ford, West (Wolfcamp) test - HORSESHOESPRINGS STATE 113-10 #1, A-5093, PSL BLK 113 SEC 10, Horizontal (7,000 foot lateral), 14.6 miles SW of Orla, Spud 10-12-13, last report w/e 11-29-13 ‘running casing’. Later – Buzz