640 net acres, 3 years, option for 2 extra, 20% royalty, 300/acre. All seem a bit low for this area. Can anyone supply information about leases in this county?
Hi.
Can you share the description with us? I just did a very small deal there and would be happy to share.
Block G Section 52, Abstract 1353.
I only had 5 net acres, @ 500/ac, .25, 3yrs with 2 yrs renewal at 500. I didn't negoitiate much--just on a couple of clauses, etc. Mine is only a very few miles NE of yours. If I had 640 net mineral acres, I'd be very tough to deal with.
Bruce Bowe said:
I only had 5 net acres, @ 500/ac, .25, 3yrs with 2 yrs renewal at 500. I didn't negoitiate much--just on a couple of clauses, etc. Mine is only a very few miles NE of yours. If I had 640 net mineral acres, I'd be very tough to deal with.
Thanks for your input..I'll keep in touch.
Does anyone know anything about Wexco Resources out of Dallas? They have offered me a lease on 320 acres that I own in Gaines County.
Hey Judy I'm asking the same. Their offer to me is at the beginning of this thread. Is your offer similar? Mark Howard
Mark Howard said:
Hey Judy I'm asking the same. Their offer to me is at the beginning of this thread. Is your offer similar? Mark Howard
Hi Mark:
Yes, the offer is the same. Is Wexco a reputable company? We have had leases before but never with a 45 day period held by earnest money while they search the mineral title rights. That has always been done before a lease is offered to us. Who is the landman you are dealing with?
A guy named Mark Allen. We've never heard of Wexco either, and so far he hasn't returned my call. There are some provisions I'd like to eliminate or change, including what you just stated above. Also want to drop the 2 year extension, and 25% royalty. How about you? Do you have the same landman?
Yes, it is the same landman, but he has always returned my calls within 10 minutes. I have talked to him several times. I am about to be away from my computer for the rest of the evening. I would love to talk more tomorrow. Would that be okay, with you?
Yes ma'am that's fine. I can offer a cell number later.
Judy Schepis said:
Yes, it is the same landman, but he has always returned my calls within 10 minutes. I have talked to him several times. I am about to be away from my computer for the rest of the evening. I would love to talk more tomorrow. Would that be okay, with you?
Mark Howard said:
Yes ma'am that's fine. I can offer a cell number later.
Judy Schepis said:Yes, it is the same landman, but he has always returned my calls within 10 minutes. I have talked to him several times. I am about to be away from my computer for the rest of the evening. I would love to talk more tomorrow. Would that be okay, with you?
Good morning, Mark. I would love to have a cell phone number and would be glad to give you my cell number also. I am puzzled about the 45 days. As it has been explained to me, this time will be spent searching records to be sure that we own the mineral rights that we claim to own. In the past, all of our leases have had the ownership verified before the lease was even sent out. Are you as puzzled about the 45 days as I am?
I'm not puzzled, just frustrated. It reeks of shoddy pre work to me. My son and I are going golfing today, we should be done by 3 PM. My cell is 979 216-7480. Please wait until after 3 to call. Thanks.
Miss Judy,
Here are a couple websites that I've come across for the county and area:
And I mentioned the Railroad Commission site on the phone. If you need assistance using it, let me know and I'll go through it with you. We'll keep in touch,
Mark Howard