Seeking Land Man for information on Oil Lease proposal in Northeast McCaulley area.
What’s your offer and legal description?
West 320 Acres of Section 8, Block E. 1/16th of 320 Acres, split 3 ways = 1/48th. Lease $500. Sell $3333.33.
Lessor is 5L Properties of Breckenridge, Texas.
You’re pretty close to some good horizontal production. I’ve seen some isopach maps that still have you in pay. I would never sell, but I think 100-200 an acre and 20% is fair. I’d inquire about what they plan to do, because this is a vertical play and 5L only operates vertical holes.
Thank you. How can you tell this is a vertical play? Please educate me.
JJ did 5L offer $500 per NMA to lease?
What can you tell me about SW/4 Section 58, Block 1, HT & B Survey, Fisher County, Texas in regards to isopach maps.
Eddy, Yes, offer was $500 per NMA to lease. What was 5L’s offer to you?
Oooops $500, not $5500. Darn!
We leased to them in January of 2020 for $50.00 NMA. Before all the horizontal activity. Thank you JJ
In the 100-150 gross. You just got two permits to the east of you.
This sand is a tight reservoir that was not very good vertically. Peregrine, Cholla, Browning/Clearfork and others have been drilling this horizontally. You have a few permits (the same as Gibson) to the south of you. Should be the same play.
Thank you, I am assuming that the 100-150 is thickness of formation?
Yes sir, the Strawn sands.
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