I would like to know if anyone has signed new leases in Section 2 Block 55 T-7 in Reeves County in the last year. Would you mind sharing lease bonus amounts per acre? Does anyone have a good sense of what the “going rate” for leases should be in this township now? Thank you.
A section about a mile to the east from yours (Sec. 4, Block 54 T-7) leased for $2850 an acre (25% royalty) in 2015. A newish well on that section is now producing very nicely. Other wells to the north of you are doing well too. So I would expect your area to be worth more than in 2015.
Very sorry I don’t have more specific info for you.
$2850 an acre is a good bonus considering how far away you are from the “good” area. For you, the most important part is that you get a 1/4, 25% royalty. The bonus is nice for now, but the royalty is what will be much more lucrative in the long run.
Hi Liz: Could you possibly help me with what the current ‘average / going price’ is per net mineral acre to lease and also to sell in Reeves County north half of section 2 block 55 township 7…
Thanks in advance,
Mary Anne Palmer
The only info I have is that Sec. 4, Block 54 T-7, which is about a mile to the east of you, leased for $2850 an acre, 25% royalty, in 2015. There are wells in the area put in since 2015 that are doing OK so I’d figure you might get a bit more in bonus than $2850, though it might really depend on the size of your holding. Smaller holdings may get less money.
It’s not easy to find out going rates unless owners come on this site and talk about their leases. The oil companies certainly aren’t going to advertise it - they want to lease as cheaply as possible! So in general, it’s not publicly available info. The figure I just gave came from a state lease, which is publicly available.
I don’t know what sales are going for in this area. I’m very sorry. Best luck!
We are also owners in Sec. 2, Blk 55, T7. My great-grandfather was Jesse Pemberton. Our current lease will be up Feb. 1. If you can wait until then to sign we can all group together & we will get a better price for the lease. We last got $3600/acre w/ 25% royalty but I don’t know what is being paid now. I do know Clayton Williams usually pays very low bonus amounts. We hired an attorney 3 yrs ago & he got us over 3x the amount Clayton Williams was willing to give.
I have looked at the GIS and can see Block 54 and Block 55 but no T-7. All I can is T10s. Could someone give me a location of you property vis a vis Lake Balmorhea? Thanks,
I don’t live in Texas so I have no idea where Lake Balmorhea is. But we do have minerals in Block 55 T7 so I know where the block is on a map. The photo below, with wells removed, shows you the general area of Block 54 and 55 T7. My markings are my best estimate, no guarantees! I’ve filled in Block 55 T7 Section 2, which is the one being discussed here.
Those blocks are about 15 miles north of Balmorhea lake
Thank you so much. I appreciate the information
Thank you!!! Appreciate it!!