We own a small interest in 24-17S-30E. Recently we received three offers to buy our interest. This is a pretty mature area with a lot of old vertical wells. We wonder if there is some new activity in the area or if these are just bottom fishers. This all happened before the most recent surge in oil prices.
Smart to ask the question! Several companies are in that township with many permits for horizontal permits in sections near you. Probably why they want to snap up acreage. Several different reservoirs are in play. Horizontal wells typically perform MUCH better than the original vertical wells due to large increase in feet of perforations.
Thanks for the info!
We also have interests in Eddy county. We received a pooling notice from Matador as well as a couple of lease offers. Is it more advantageous to lease in New Mexico?
I’m not an expert but in NM there is force pooling. The terms are much less favorable than a decent lease.
I have just been sent 7 DO’s in Eddy County from Melbourne. I need to hire a local probate attny to close my late father’s probate in NM. I have spoken to the attorneys that are listed in the directory and none of them are local. Would anyone have any recommendations?
I don’t know what’s allowed on this site but I had a very good probate experience with Doug Lunsford at Hinkle, Hensley, Shamir & Martin. They are in Roswell. 575-622-6510. This was about 15 years ago so not sure who is active there now.
Thank you very much. I appreciate the tip.