Oil & gas discussion group for those interested in Lubbock County, TX. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
I have an offer for $300. per acre with 1/5 royalty. I sm wondering if this is a decent offer and if there is any information about activity in Lubbock, Coounty.
I’m not sure about Lubbock Co. It’s crazy south of here. I know owners are getting much more than $300 acre, and I would never settle for less than 1/4 royalty. Not worth it.
Thanks David!
My family has unleased mineral rights to 640 acres in Lubbock County. We have been approached by KEW Drilling offering $200.00 acre with 3/16 royalty on a 3 year term. From my resear it appears to be a standard lease with items we would want to further negotiate. Has anyone dealt with this company before? Also what are the market values in Lubbock county for this type of lease? Any help would be greatly appreciated.
Bryan:
I have not heard of anyone accepting less than 1/4 royalty, but my experiences are south of Lubbock county, and central TX.
I and at least one neighbor with 360 to 640 acres have been approached by Kew Drilling with a $200/acre 1/5 royalty offer, 3 yrs plus 2yr option. For RL Moore : you had an offer of $300 in Lubbock Co? from whom, if I might ask?
Does anyone know anything about Kew? They claim to have leased about 8000+ acres in Hockley and Lubbock counties. I’m looking over a lease from them at the moment. Any info would be appreciated.
thanks, Debra
Debra, It is with Four Sevens Exploration Co., LTD. I don’t know anything about them or the one you mentioned.
Rebecca
Does anyone have information on bonus and royalty offers for Hale County? It appears there is not a forum established for this County. I have a family member that has been approached and trying to get an understanding of the types of offers being extended in this county. Thanks!
There’s very little production in Hale County, and most of it is in the far southwest corner of the county. If that’s where it is, it may be best to compare with the corners of Lamb/Hockley/Lubbock counties.
I have some minerals near Hale Center, but they have been unleased forever. There’s a lot more activity on my farms in Hockley County.
You might be looking at $200 for a 3/16 lease in that corner of Hale County, but that’s a rough guess. Maybe someone else has leased something recently.
I have mineral rights northeast of Idalou in Lubbock County that are leased I know a lot of other rights have leased in that area. Can anyone tell me if there are signs of possible drilling going on or new activity? I don’t live there so I can’t see for myself. Any updates from around Idalou would be greatly appreciated!
Hmm…that didn’t work very well, but it’s there.
From the RRC well permit info site:
Hi Stephen, I am wondering how do you know this about the new permit by Four Sevens? I looked on the TX RR Comm. and did not see anything. Perhaps it is too new to show up on there yet?
Four Sevens out of Fort Worth has just permitted a well 4 miles west of Idalou. Total depth of 16,000 feet including a hotizontal leg of around 6,200 feet.
Hmmmn…
Thanks…I found it.
New offer in Lubbock County. 5 Miles North of Idalou. 110 acres at $300.00 per acre for 3 years with a 2 year extension. Bonus draft unknown. 20% royalty. Norwood Land Services for Four Sevens Exploration. Lease Minerals only. No surface rights.
michael look around you empresa drilling of lubbock highway first horozonal at 13200 in lubbock county ask for more money dont tell them that I said to 775 they hate that number ask 777 I have gotten 775 twice this year.
David,In response to your question, I think that is a good offer. I have leased several portions of my land for similar terms in and around that area you are referencing.
Thanks brad I really appreciate. I live in victoria, tx so its hard to keep an eye on what’s goin on. I’m a first timer in this business. But this looks promising so I might look into investing… I don’t know. But thanks again.