New to all this just signed a lease with High Plains Energy Company for Block DD Section 43 there in Terry County. I assume from reading on here that they are signing a bunch of leases in area. Can someone tell me the chances that they will even drill there much less find anything? It’s 160 acres in whole.
Most of us are wondering the same thing, so I won’t be much help in answering your questions unfortunately.
David, what part of Terry County? I have minerals leased as well in Lynn County, about 2 miles east of Terry County, and 10 miles north of Dawson County. Oil is there, no doubt… it’s just a matter of time and if the drilling company(s) can get it out of the ground. At least that’s my take. I’m 2 years into a lease now so relatively new as well.
Mine is about 1 to 2 miles direct south of Wellman.
Josh Hatfield said:
David, what part of Terry County? I have minerals leased as well in Lynn County, about 2 miles east of Terry County, and 10 miles north of Dawson County. Oil is there, no doubt… it’s just a matter of time and if the drilling company(s) can get it out of the ground. At least that’s my take. I’m 2 years into a lease now so relatively new as well.
David, where is High Plains address and who did you deal with if you can say? I used to live on Section 43.
There located in Lubbock or the landman I talked to was in Lubbock.
e dubose said:
david where is high plains address and who did you deal with if you can say I used to live on Sec 43
I guess long time ago my grandfather used to farm that land sold off the land kept mineral rights
David Little said:
There located in Lubbock or the landman I talked to was in Lubbock.
e dubose said:
david where is high plains address and who did you deal with if you can say I used to live on Sec 43
From what I’ve learned so far, they’re really just getting started. I have 1/2 a section coming out of lease in May that has been under lease for 5 years with Murchison Oil. They’re concentrating their efforts in New Mexico so don’t plan on renewing. My sister has the 1/2 section that is under the same lease. We are hoping to get it leased again with someone else. If anyone has any suggestions I’d greatly appreciate it. Not sure if I should try reaching out to find an interested party or wait till they find me, if they find me.
Depending where you are located they will find you but don’t sign too quick I helped one person get 775 when they was only offered 300. The first quarter and second quarter of the year we should see much more actions.
Josh Hatfield said:
from what I’ve learned so far, they’re really just getting started. I have 1/2 a section coming out of lease in May that has been under lease for 5 years with Murchison Oil. They’re concentrating their efforts in New Mexico so don’t plan on renewing. My sister has the 1/2 section that is under the same lease. We are hoping to get it leased again with someone else. If anyone has any suggestions I’d greatly appreciate it. Not sure if I should try reaching out to find an interested party or wait till they find me, if they find me.
Wow, that’s great news. The section that’s coming free is Section 3, Block O, it’s 1 section east of the 213/179 intersection, or 1 section east of New Moore. Do I need to contact someone at the courthouse that the lease has expired or get anything from Murchison stating the lease has expired? Thanks for the info Dubose. We used an attorney out of Amarillo for the Shell lease and I’m glad we did as they had us pooled and paying expenses.
My family is in the process of negotiating with this group too for mineral rights in that area south of Wellman. Does anyone know what the going rates are?
Is it with High Plains Energy also?
Yes.
Well it really I guess depends on how many mineral acres you have. I am sure there are others on here that can answer this better than I.
We have a net of 40 mineral acres. What did they give you per acre for the bonus?
David Little said:
Well it really I guess depends on how many mineral acres you have. I am sure there are others on here that can answer this better than I.
N Raif said:
Yes.
David Little said:
Is it with High Plains Energy also?
N Raif said:
My family is in the process of negotiating with this group too for mineral rights in that area south of Wellman. Does anyone know what the going rates are?
I am really new to this also. High Plains Energy is trying to lease some mineral rights in Terry County also. What is the going rate on royalty? 3/16 is what I keep hearing. The lease said 1/6. Can someone explain what that actually is?