Hello,
I’m wondering if anyone can help me understand the history of the 120 mineral acres I inherited from my grandparents. I’m currently leasing them to a company but want to get a better understanding of whether that area has been drilled before, or if there is any current interest in that area. Hoping to learn more about it before my lease is up and it’s time to renew.
Township 7 North, Wange 60 W, Section 22, N2NW, SENW
Thanks in advance!
Range*
Also forgot to mention it’s in Greeley, CO
That section has an old expired permit and a plugged and abandoned well. There is leasing in the sections nearby in the last two years. Horizontal drilling is the new normal in that township, so make sure that your name, address, description of acreage and probate documents are filed in the Weld county courthouse with the recorder so that land men can find you.
It would be very wise to get a good oil and gas attorney to help with any new leases. The draft lease from an agent will probably not be in the mineral owner’s favor and may need significant edits to end up being fair. If horizontals are in the future, the lease could hold your family for decades.
Totally agree with M_Barnes. There is drilling activity two miles north and two miles east. It may take a few years for drilling to occur on your minerals but with 120 acres, there are literally millions of dollars at stake.
Another note to mention is that you may not have 120 acres. That is likely the gross acreage. You may have a smaller net mineral acreage due to fractionation over the generations. If you are looking at old leases, they usually quote gross acreage.
