Leasing Bonus Rates - Reeves County

#1

Anyone close to Section 39 Block 72 PSL? Have you received offers to lease from KEW or Upcurve?

#2

Just FYI, you should be contacting Luxe Energy and Colgate Operating as they are both actively pursuing increasing their leasehold position in this area. Just to your East there are numerous permits filed for horizontal wells. And yes, Upcurve was one of the first to contact us with a lease offer just a few sections away from you.

#3

What was the Upcurve offer? Someone mentioned I should hold out longer to get the best Bonus offer. The more activity in the area, the more the offer. Since the lease will tie it up for 3 years, it makes sense to wait.

#4

We have been contacted by a landman working for Colgate Energy. We have fixed our heirship and any other information they requested. She said we should hear something before may 1st. From colgate. The wells name is King David mipa reeves county pecos texas. we have 3 lots , 17, 19 and 20 of blk 13 nppeccos. She spoke of a lase bounus. Does any one know what they are offering. And any ideas of what i should counter offer… also we live in arizona. I am tryinng to find a good lawyer to help us any ideas please!!!

#6

WilsonOil,

If you are in the urban portion of the “lot and block” play going on in the City of Pecos, Colgate is the major group leasing that area. They are filing MIPA units for the most part. I am a landman in Midland and really like the following attorneys:

Kelly Hart & Hallman - https://www.kellyhart.com/ Lynch, Chappell & Alsup - https://lcalawfirm.com/

I know personally and have worked with some of the attorneys at the above firms and they are great to work with and very well known around town. I would imagine both of these law firms have helped owners in the Colgate City of Pecos project so they may already be familiar with the project as a whole and could give you feedback on pricing. You can also check out the foillowing for lease Comps:

https://info.drillinginfo.com/industry/minerals/

1 Like
#7

Thank you so much for your help. I will contact those Firms and see what happens from there. I appreciate it so much!

#8

What is the Statue of Limitations for land that was sold with tax deed in reeves county pecos texas. with out proper notification. please anyone help.

#9

It is my understanding that the county must give all owners notice. If improper notice was given I think there is a case that the portion of the interest that was not given proper notice was not foreclosed on. I think youd have to be more specific and elaborate on what you mean by improper notice though. If they just got your address wrong but they did advertise it in the newspaper and in the courthouse for a month with your name on it, I think the county did their due diligence. If your name or entity was never listed in any way in the notices I think you have a case. Depending on the size of the interest I would recommend talking to a knowledgeable attorney.

#10

If you were given proper notice, I think you can reclaim it within two years but you not only have to pay the backed taxes but you also have to pay a penalty of some kind.

#12

I think the penalty might be the purchase price of whoever bought the property in the tax sale and possibly any expenses they incurred while maintaining the property (I don’t think upgrades qualify). I might be wrong, though. Call the county on Monday and ask.

#13

They notified a person who s name was never in the property. Plus she had been deceased for 20 years already when they ran the notice in newspaper. This is for one lot. The second lot they notified tell same perspn as the first lot I spoke of. Her name was on that lot. As well as her 4 children. But teu notified the mom and she was deceased already ten years. Why wouldn’t they notify the children who were adults. They all own the same precentage.

#14

what makes it so bad it it was on it for $260 and $302. But it was baught buy same guy John lanahan.