My my family owns mineral rights in section 15, Blk 112
and also section 11 Blk 112. Does anyone know what lease offers are going for?
XTO has offered $1,500 per net mineral acre and 1/4 royalty for section 15. Is this the going rate?
For what it is worth, we leased mineral rights in Section 9 Block 48 in Pecos County in February 2017. 3 year lease offers started at $1,200 per acre and ended up at $6,000 after six months of back and forth. Highly recommend using a lawyer to negotiate a lease contract.
L John brings up a very good point about lease bonuses in Block 48, but you should know that there is a LOT more activity and success in that block versus the minimal activity in Block 112.
He is dead on as to the need for a good lawyer.
The 25% royalty is a good number and going rate for that factor.
Agree
Also happy to provide drillinginfo snapshot of activity if helpfull too
I believe Block 48 borders Block OW ..to the west? Has anyone heard of drilling interest in Block OW?
I would love to see that, if possible!
Over 30 horizontal permits in Block OW over past 1000 days - mostly by Diamondback and Brigham. East - West oriented laterals in ranging from 5000' to 10,000' in length.
Quickie PDF map attached below.
Thank you VERY much for sending this map and news on drilling interest in Block OW. Our dad inherited 320 mineral acres ( we think!) there - "an undivided one/fourth interest in the west one/half of Survey 86, Block OW" - am confused about size of "Surveys" and location with Block OW, and if Block OW is entire middle part of map attached ..we were approached by one or two companies earlier in 2017 we believed were trying to lease from us to flip the lease. Thank you so much for all of your help as we unravel puzzle of exact location/interest, etc. !!!!
Martha Barrett.....
In this case I feel the name Survey is being used instead of Section....Possibly you have the minerals in W/2 of Section 86/Block OW/A-6018. A Section/Survey is more or less in the neighborhood of 640 acres...So you have minerals in 1/2 section=320 acres.
GIS Map of Pecos County Section 86/Block OW/A-6018:
CLICK ON MAP TO ENLARGE
Clint Liles
That makes a lot more sense.
Thank you !!!!! And you have a great day !!
Thank you ! Old phrasing in my grandfather's will, maybe ! Hope to hear interest in our part of OW soon !
Thank you for all your help, have had a very hard time locating that Block online on maps !
Martha Barrett
Martha.....try using this link and RR Commission mapping system...if you need help just hollar.
http://wwwgisp.rrc.texas.gov/GISViewer2/
Clint Liles
Thanks for the info. I signed a lease with to for $ 2,000 per net mineral acre.
With Xto
Congrats. XTO is a very good and aggressive operator. Good luck in future drilling results
We have the section above you in 83 and In 79. We have three
different offers, from three separate co’s.
I’m sorry this should have posted on Martha’ s post
Martha, we have sections 79&83 in ow. Three offers
from three different co’s. Would gladly talk with you about
about your minerals.