I have a small decimal interest at the Hill unit in Ward co. showing the operator as being XTO Energy. I’ve been getting offers of purchase for some time now. Would like to hold onto it, but would like to have more details about it as all I have is the lease name, the operator, county & decimal. (0.000193) Does anyone know more about this particular lease? Would like to know it’s potential value. This is one of several I have inherited. How can I find out if there are others I might own in Ward & surrounding counties. Appreciate any help, thank you …Christian B. Peck
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Chris,
The Hill Unit has two gas wells. the #1 is a verticle well and was drilled in 1993 (dual completion: montoya and Devonian). The #2H is a lateral well drilled in 2002 (also dual completed in the same two zones)
Now I am not a geologist, but where your property is located in Ward County, it appears to be down in the basin - the east side of the county in up on the platform…So, the primary objective of today’s drilling is the wolfcamp, which appears to be untouched and ripe for development. (playing close-ology)
From what you said was your decimal interest, I can deduce that you have approx 1 net royalty acre (640acre unit X 8 X 0.000193) Which I would guess has a retail market value of $12K per net royalty acre - highend of the spectrum might fetch $20K/NRA
Also, a land work by any capable Landman would answer your question on where and what as far as the other properties…My suggestion, dont rush into anything, this part of Ward County has some of the best rocks in the world…good stuff