Oh gosh Michelle that is awful. I’m sorry for the loss of your husband and imagine you could have used the bonus money. Do you know if they have ever permitted a well or if any other company has drilled on that acreage? Sounds like you might need advice from a good attorney.
We have leased our minerals on Block G, Section 168 if anyone has any information about drilling in that area. Our lease is with CSC Interests, Inc in The Woodlands, Texas. We leased for $350. an acre for a 20% for 3 years with a option for 2 years. If they drill and hit oil, they have to drill 2 wells per year until the property is at capacity. I had never heard of the company, but was happy to lease the land again. It had been out of lease for a couple of years.
I would like to find out if I can get information on an old drilling site that was on our land many years ago. The well numbers are 33119 and 32705, on Block G, Section 168 and was marked as a dry hole. I noticed property to the west and South of us also had some dry hole locations but also right next to them were marked as oil. I am thinking some of the early dry holes were using old technology and the oil close to them were using newer technology. Or maybe some other reason.
AJ, When I emailed them on how I wanted to handle the lease…through the bank, I haven’t heard another word from them. They had been in hot and heavy pursuit before that communication.
@AJ, just found out today, the people that sent their lease to Lumberjack before getting payment arrangements set up first, has now been put off for another five weeks. I guess Lumberjack may be having trouble flipping this one.
Thank you for the update, Judy. Might other options be that there is watchful waiting for well results or possibly cash flowing (from existing production) new lease acquisitions?
Gaines%20County%20Block%20A9.JPG I recently leased in Sections 12 and 14, Block A-9 Gaines County to Adobe. The attached map shows approximately 40 contiguous sections along the Lea and Gaines County line where Adobe has leased over the past 12 months.
I received $525/acre for 3 years 25% royalty and my own lease form, although the market value language for oil was effectively gutted. Adobe uses Stephens Leasing Services for their leasing.
We were contacted by Two Pak company out of Midland about leasing our mineral rights? Does anyone know about this company?
Vicki - I am not familiar with Two Pak. Appears to be a holding company affiliated with a few other entities such as Custer and Wright Operating which is a legitimate developer. A search of Gaines county records shows that Two Pak have taken lots of other leases.
The terms will depend on your area but, as a baseline in Gaines County, even in areas with little activity I would hesitate to accept anything below $500 per net mineral acre and 1/4 royalty on a 3 year lease. In some areas you could get much more. In any case, their first offer isn’t their best offer.
thank you so much J-F for the information.! Vicki
J-F, and Vicki,
If I may join your discussion concerning Two Pak. My relative also received an offer from them for Section 156, Block G, WTRR Survey.
They are offering $400 net acre + 1/5 (20%) 3 Year + 2 Year Option.
Is anyone familiar with this area, and is this a good offer?
Thanks
Thanks,
Scott Collen they upped the lease to 25% without any problem at all. ****Drill baby Drill!! ****
Silver Koolaid are you part of the Howard Family? We are also Block G 156 Vicki
A Basin Reborn: The Revival of the San Andres Formation
Permian Basin Acreage Opportunity Shallow San Andres Development Po…
My interest in in section 262 block G in Gaines county. I received an offer of $500.00 a MNA, 1/4 royalty with a two year option at $400.00 a NMA. I know nothing about the area where this is located. Does this appear to be a reasonable offer? Thanks folks!
Hello all! My family has mineral rights in two different areas of Gaines County. One had the lease expire in May, and the other will expire in October. I’ve been tasked with gathering info and seeing if we can get them leased out again. Here are the locations. Labor 3-4 League 294 (lease expired in May) North Half SE 1/4 Section 72 (current lease expires in October) Any help or advice on getting them leased again, or just general information on the area would be greatly appreciated.
J Cleo Thompson completed the REAGAN CSL 297-20 well # 1H in southeast Gaines county with an initial potential of 355 BBLS. Completions(CMPL) - General Exception… The same company has 6 more wells in various stages of drilling and completion in the area.
Hey Friends, do you have any recommendations for a reputable buyer here in Gaines County? Looking to sell approx 350 acres and not wanting to waste time with flaky people. =)
Mr. Foster, I sent you a friend request. I am not a mineral buyer and I do not currently work in Gaines; however, a friend of mine has been active as a landman in Gaines for several years for buyers and operators. I think he could assist you. Would you be willing to share your contact with me in order for to pass to him? Thank you sir- Mike