Lease rates and offers in Reeves County, TX

Steven,

These wells in this area are not just oil wells but oil and gas wells combination. And there are some very good wells here. There are 2 formations being targeted in this area...the Wolfcamp and the Wolfbone(Trend area)...And there are possible other productive formations below these 2 formations. If these were my 5.8 acres and I had to sell them now I would be asking at least $75,000. The higher the price of oil gets the more this 5.8 acres will be worth.

THIS IS JUST MY OPINION

The producers/operators in the area that have done a majority of the drilling of these wells are Clayton Williams, COG Operating, Rosetta Resources, Comstock Oil & Gas and Energen Resources.

Clint Liles

Steven, if the minerals haven't been made subject to a receivership lease yet, I'd call the Reeves County District Court Clerk immediately and ask them if they can provide you with any information about the pending receivership hearing. You'll want to inform the court that you've been notified by a mineral buyer that your minerals are subject to a receivership hearing, and that you are the owner of the minerals.

Lease and purchase rates have gone up dramatically in Reeves County over the past year, and you could probably lease the minerals for what your purchase offer is for. You could also try reaching out to one of the forum sponsors to see if they have any advice. Best of luck!

http://marketplace.mineralrightsforum.com/ad-category/minerals-management-consultants/

I own 20 net acres of Non Participating Royalty Interest (NPRI) in Reeves County, Block 57, T3, Sec 30, 32, 40, 42 and am considering selling. No current production, but there are 6 Permits currently, one of which just sent a Lease Ratification Notice for a consent to pool acreage by the leasing/land agent. Any ideas as to market value are very much appreciated.

On the main Reeves board, there are many entries about purchase offers. $16,000/acre was the one I saw today.

We were recently offered $27,000/acre, H&GN RR Block 13.

David

Which section in block 13?

141 & 150

David

Those sections are very near the Primexx wells which are very good wells.

Are both sections HBP?

What company offered you $27K?

I’d be interested in knowing who made the offer, too. Linton

It was a middleman.

I am not sure if 150 is HBP. It is one lease, does that matter?

I am amatuer on looking at these well permit records but there are good wells short distances away to the N, S, E and W. So it seems like there would be really good risk/reward to drill more here.

David

How do you know it was a middleman? They normally don't tell people that they are a middleman. The $27K probably wasn't a real offer. Sounded way too high in the first place.

Yes, it was written.

Premium acreage is going for over $50k/acre in the area I see from news reports/company presentations on the internet.

If we sell I will tell you who we sold it to as long as we didn't sign NDA.

You called yourself an amateur in an earlier post so how do you know what

premium acreage is going for? I have never seen prices anywhere near $50K.

Hard to believe.

Especially because your acreage appears HBP and has zero permits.

Look at these deals:

http://www.oilandgas360.com/permian-delaware-basin-action-virtually-nonstop-since-oct-1/

Yes, I am an amateur, but I can read and use a calculator.

I agree, Robert, $16,000/nma is about the highest I’ve seen in that area as a serious offer. Linton

Want to make sure you understand that I am talking a sale, not a lease.

Hi David. Thanks for the information.

David

Your referring to deals where an operator has sold their acreage position after drilling several wells proving reserves and additional infield drilling locations.

I still believe your offer for $27K is WAY TOO HIGH!! No permits. HBP.

Especially from a middleman.

If it sounds too good.

Hi,

I just found out I was misinformed about the net mineral acres. The number I was given was 75% too small, so the offer was for ~$6,000/ acre. Should get more bids from other interested parties soon, will update what they are here.