I hope everyone is doing well and getting ready for Thanksgiving. I own some minerals in the Blk 35 4N specifically in Sec. 7. Any idea what going rate is for lease bonus here? I have heard of operators to the East offering $1200 acre in extreme holdout areas, and know that Reliance has some great wells in the AROD 2-11-14 1 mile to the west.
I’m not really sure on the lease bonuses but am curious as well. It looks like a lot of the leases CGS let expire still haven’t been leased (mine included) based on what I have seen on texas file/courthouse direct.
Reliance has had some good wells. The Arod unit has produced 107,000 barrels in 3 months, and the Blue Beauty well has produced 225,000 barrels in 10 months.
Pinon also has a unit (Gemini) just west of 87 on CR28 that has produced 200,000 barrels in 3 months.
Multiple wells in the Blue Beauty (2) and Gemini (2) however still really impressive. The dean is a legitimate bench over by those wells.
Gemini well or wells in W/2 Secs 1 and 12 Blk 35 4N must be decent horiz Sprayberry wells.
We got $1250 per acre/3 yrs 1/4th in NE/4, Sec 1 in Oct 2022.
Did you lease with Piñon?
Yes we did…to Pinon Have not verified production from the Gemini well or wells but the “lease” shows to have produced a lot of oil the last three months…we knew the wells had been staked….Enverus shows them drilled but no production report. TRRC shows almost 200K barrels produced from the “Gemini lease” in past three months…that is great production if true so no surprise on the amount paid for the lease.