Have property in the H and TC Ry Survey Ward County. Are there any companies out there now drilling?
Jerry,
I am not sure what the H and TC survey represents in Ward County. The oil and gas companies usually seek you out if they are interested in leasing your surface and mineral rights. Their landman will contact you if they are looking for real estate in your area to lease. Bonus money last I heard was in the $2,000 per acre range for the lease rights; however, this varies depending on the formations they might want to drill into and the oil companies always want it at the lowest price. There is seismic data exploration taking place in Ward County as they are looking for new deposits of oil and gas and defining new fields. There are several oil companies working the Ward County area.
Jerry,
We recently signed a lease extension for two years with Anadarko in Block 34, Section 171 on a small tract for $2,200 per NMA and a 25% royalty. The landman indicated that they were working the area and expected drilling activity to take place within a year. Who knows… but we were okay with only a two-year timeline on the lease.
Hope that helps! Good luck!
Mike
Can anyone tell me if BLOCK 34, Section 98 H&TC Ry. Co. Survey is close to BLOCK 34, Section 171?