Fair offer?

Oil and Gas Leasing Help
1

My 3 brothers and I each own an undivided .8333333 net mineral acres in SE/4 of Section 136, Block 13, H&GN RR Survey, containing 160 acres, more or less.

BPP Acquisition LLC is actively drilling/leasing in the Delaware Basin, more particularly in Reeves County, Texas.

This is the proposal to lease the mineral rights that we own.

$3000.00 per net mineral acre as a one-time signing bonus

A three (3) year paid up (rentals) oil and gas lease

A one-quarter (1/4) royalty on marketable oil and gas for the life of the well.

Does anyone have information that they could share with us? We are ignorant in regards to oil, gas & mineral leases.

2

Sharon,

I see where Primexx has an approved permit to drill in Section 136 as of August 25, 2017, permitted for 13,000’ Wolfbone well…

GIS Map of Reeves County Section 136/Abstract 5011/Block 13/H & GN RY:

CLICK ON MAP TO ENLARGE

3

Sharon,

This link is to Production Data on well 33928 to the East of Section 136. Manipulate beginning production date back to December 2013 to view ALL production data on this well:

http://webapps2.rrc.state.tx.us/EWA/specificLeaseQueryAction.do?tab=init&viewType=prodAndTotalDisp&methodToCall=fromGisViewer&pdqSearchArgs.paramValue=

Completion Report on well 33928 shows 684 barrel oil per day/431,000 feet of gas per day.

http://webapps.rrc.texas.gov/CMPL/viewPdfReportFormAction.do?method=cmplW2FormPdf&packetSummaryId=108850

4

Is that good?

5

Thank You so much for all of your help.

Very much appreciated by all of us!