Ms. Whitehead, lease then sell is in my opinion a very poor strategy as you have already conveyed 75-80% of what you have to sell in the lease. If at all possible I would let the lease run out then sell when you have 100% of the rights back, but if you need the money, then the value is whatever a willing buyer and a willing seller find acceptable. You have to negotiate. Keep in mind the 15% capital gains tax on whatever you receive for the mineral rights. Good luck.
Hey everyone, I have a question, does anyone have any idea what the going lease rates for Dawson County is, our land is block 35 section 2 T4N. Anything would help. Thank you. Willard Rogers
I got a text from a friend yesterday from family in Lamesa, saying leasing is resuming and the oil companies are hiring again. I have wells in Block 34, have 2 areas in 35, one leased, one is not, wanting to lease the one in 35.
The Morgan 3601LS was completed in Lower Spraberry and is producing; Morgan 3601WB was completed in Wolfcamp ‘B’ and is shut-in per the RRC.
RSP Permian marketing their leasehold in Block 35 Township 4N & Block 36 Township 4N including the Morgan 3601LS (producing) & Morgan 3601WB (shut-in)
Joe
What does your last comment mean?
Thanks
W Rogers
So are you saying they are looking to sell those leases?
I talked to Jordon Shaw today. He is a land man at Atry, for RSP. He said nothing of them doing anything in Dawson County—not drilling or leasing at all. Joe, are you a land man? If so, do you know anyone with any interest in Dawson County? As you have seen on here, I have 240 acres to lease. RSP is not interested at the moment; he told me they cannot make any money at $50 oil. Let me know.
We received an offer to lease the SE/4 of Section 28, Block M, EL & RR Survey (A-1133). Appears to be a couple of miles east of a producing area. Any thoughts on bonus amounts? The offer seems very low.
Mr Cato, what block is it in? I have no idea what block M is, should be block 34 or 35 or something like that, i.e. my land is block 35 Section 2, no way to look up block M. Also what was the offer? It is your business but if you want to know if it is low or not we need to know what it was, plus who is the operator?
This link is not operable.
G. Cato,
Thanks for the info. I know that oil is down. Also, I have not dealt with a lot of lease offers north of Lamesa, but like Mr. Cundieff said, there are hundreds of producing wells there so I really think that offer is low. I have been leasing land in Dawson County since 2007. Even 9 years ago I received $150 an acre, and every lease since I have received at least $200 in three different areas. I know of people right now that have offers of $250. Granted, location is key, but they are offering you anything for a reason, so unless you just need the money I would counter with at least $200. You might even want to wait; oil is coming back up. I doubt we ever see $100 again but $85 is coming in 18 to 24 months. Last time I looked, GM and Ford are producing those gas hogs left and right. I hope I helped you.
W. Rogers
W Rogers: The legal description is in fact: The Southeast Quarter (SE/4) of Section 28, Block M, EL & RR Ry Company Survey, Dawson County. I’ve looked it up several times on the Railroad Commission website using Block M. The Abstract Number is 1133. The offer was $125/acre and 3/16.
Mr. Cundieff,
I ordered one of those maps, thank you for the number. I have maps but they are not very clear and I live in Destin, Florida, so it is hard to keep track.
Are you a land man? If so, I have a tract of land I am looking to lease and I am not having a lot of luck. Let me know.
W. Rogers
Block M is in the E L & RR survey and it is a large area in the NW part of the county. The northern edge is close to the Terry County line and it borders Gaines County on the west and one area about 4 or 5 miles wide extends to Hwy 180 west of Lamesa along the county line. There were hundreds of leases in this part of the county through 2014 and I have minerals about a mile north of the old Munger school. We had production from three wells on this place until 2003 when the last well was plugged. Our interest is in the E/1/2 Section 77, about 6 miles SW of Mr. Cato’s Section 28. I have a big Dawson County survey map and they can be ordered from the Texas General Land Office in Austin (1-800-998-4456) and they are $15.00 each, well worth the money as I live in east Texas and can keep up with leasing out there. I would also recommend joining LeaseAlert. It is a free report e-mailed to you monthly of all leases and mineral deeds recorded in the Clerk’s office for the previous month and it shows the grantee, grantor, date recorded and the legal description of where the land is located. Also the actual signed lease is shown but not the amount of money paid. Be sure you request Dawson County or any other county where you may have interest should you join. Good luck.
Willard, no I am not a land man but I do have a 50-plus-year degree in geology but I never worked as a geologist. My parents were from Lamesa and my grandfather had two small farms there and some of the minerals dribbled down to my generation. However, neither are leased at present. Myself and two siblings and our mom bought several hundred acres in Anderson County in 1969 with 20% of the minerals and in 1983 my brother and I bought another 46% of the minerals and presently we own 427 net mineral acres which are also unleased. We had a huge land play in Anderson County starting in 2011 but it ceased after about 4 years. EOG was the big player and they had over 50,000 acres leased and drilled two wells, one only three miles from us. It was a vertical test well and they prepared the drill site for a horizontal bore in close proximity to it but this was mid-2014 and oil was going down fast so they shut everything down and renewed very few leases. But oil prices will come back, they always have, so maybe we can hang in there a little longer. John
Thanks for the info Willard and John. Don’t have to have the money so will start high.
Good Afternoon,
My family and I have some land in Dawson County, Texas, that was leased. The lease expired April 1, and we are interested in leasing this land again. We do not want to sell; it is Block 35 Section 2 T4N. We own about 240 acres here. If anyone is interested, contact me on here or send me an e-mail at marc.rogers33@yahoo.com. Thank you.
Sent a message to you Willard.
Anyone know anything about what they just found in Texas? Me and kids have minerals and royalties in Dawson County.
Does anyone know about the newest discovery and our mineral rights in Dawson County? This is our lease IMG_1029.JPG
