I have 20 acres of mineral rights S/2 of Section 27, Block 32, Township 2 North, T&P Ry.Co.Sy
Howard County. Recently, I have received astounding offers ( well over $100,000 ) to buy my mineral rights. Previous offers were in the $5000 range. My assumption is that drilling possibilities have jumped but can anyone tell me what is going on with drilling, leases, etc? I live in central Texas so checking things out personally is a bit out of the question.
Hi Becky - Legacy Reserves Operating has permitted 6 horizontal wells in the section bordering yours on the south side. Your tract isn't included in those wells, but Legacy has drilled some very nice wells in the area. Well over $100,000 isn't enough for your interest in my opinion.
Legacy Reserves has 13 approved permits for horizontal wells to the South and Southwest of your Section 27. And to the west Surge Operating, LLC has numerous permitted locations and producing wells. They are coming your way with exploration/drilling.
Link to Production Data on well 227-38577:
I agree with Marcus T that $100,000 is not enough for your minerals acreage. Your minerals are in a very good area.
GIS Map of Howard County Section 27/Block 32T2N/A-276 and surrounding area:
CLICK ON MAP TO ENLARGE
Thanks for the info. I knew something was happening or the offers wouldn’t have skyrocketed. Do you know if any permits have been granted in my block?
There are permits in your block including the ones Clint and I mentioned previously. However, there aren't any that include your tract yet. The time remaining on your lease will likely dictate how soon you can expect to see a permit for a well that includes your tract.