Lease payments/royalties geological potential

I have land and mineral rights for 40 acres of land in Culberson County. I was approached by TRNCO through their contracctor Dason Geophysical company wanting to conduct 3D Geophysical survey and are offering one time payment of 500 dollars for total acreage of 40. I have being following our forum and found it very information. How does one find out the geophysical potential of their property? how does one solcit for the best offer though other mineral/oil/gas companies?


Is there a lease on your land? If not, I would call Petrohawk, Cimarex, Concho and Devon--ask for the land manager for that area. They are all very actively drilling that area. Also read each of their websites--latest presentations--under Delaware Basin or Permian. Tell them you're getting some offers and you would like to give them an opportunity to lease. Go big--try to get around $2500 per acre..See my post and others on the county group. Research the Bone Springs play on google.

If you get an offer that you like, call an oil and gas attorney in Midland immediately to draw up a detailed contract--. Mine only charged $1000.00--not too much --relatively speaking. Very important.

I received some very detailed advice from an international oil and gas negotiator. He gave me a 20 page economic oil projection report on the area and tons of info on how to research and speak to these companies.

Please let me know how it works out. What section, Blk do you own in? Ours is Culberson, Sec 20 Blk 58.

Good luck,