Have any other owners been receiving a high number of purchase offers in this section of Reeves County? What would cause all this kind of activity, does anybody know?
Looks like Anadarko permitted a well, the Sievers State Unit 2-1, in that section in January. That's probably the reason for the recent flurry of offers.
Thanks. How did you see that? Also do you have property in that section?
James,
Below is a map showing the permitted well. This map and information about the permit can be obtained through the Texas Railroad Commission's "GIS viewer". A link to the viewer can be found here: http://wwwgisp.rrc.texas.gov/GISViewer2/
You will likely receive a large number of purchase offers moving forward as that is a good area, and a permit on the property increases the value to a mineral buyer. Out of curiosity, what is the highest per/acre offer you have received so far?
Over $13k per acre.
I looked on the map and did not see Sievers State Unit 2-1. How do I pull it up on the map? Thanks, Jim
James,
2 of the Horizontal wells nearby had good Completion Reports. Well #34027/292 BOPD(BARREL OIL PER DAY)/1,192,000 MCF gas per day. Well #33662/591 BOPD/1,598,000 MCF gas per day.
http://webapps.rrc.texas.gov/CMPL/viewPdfReportFormAction.do?method...
The RR Commission shows that the submitted permit for the Sievers State 2-1 well API 38935147 has not been approved as of this date.
Link to Sievers State 2-1 submitted permit:
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
Link to Production Data on well # 34027:
Clint Liles
Clint, thank you for the links. I didn't know there was such a wealth of information. Your help is greatly appreciated.
I received an offer for 15,000.00 an acre last week from a Co. In Tyler, tx. Seems like a good offer. Does anyone have any thoughts on this.
John,
What is the Abstract, Section and Block #'s of your minerals in Reeves County? And was the Company Mewbourne Oil Co. or XTO?
Clint Liles
John, it is difficult to calculate what a fair value is for minerals, especially non-producing, but something to keep in mind is that when someone offers to buy your minerals, they are not doing so to break even, or lose money. If you are wanting to realize some value from your minerals now, I would advise only doing a partial sale. That way you still have an interest in the property and can benefit from future production.
api no. is 389-35147. sec 1 blk 2.
That is what I was thinking. If they are offering me 15,000, then I figure the true value would be more like 25000.
Thanks
HI! I'm a little new to this forum and to this land owner process. I own land in this permitted area and there are two wells, API 38935147 and also 38935222. The second one is in production but I can't seem to find production stats or how to track it. I got my first royalty income check but the numbers are a bit strange and I am trying to figure it out. Clint you seem to be the guy who knows stuff. Do you know if Anadarko are going to keep producing or if they just did a test on this well? Thanks, Karla
Hello Karla,
At this time I see no production data on the 2 wells(API 389-35147/35222) in Section 1. These 2 wells Anadarko drilled are definitely not test wells. They are for production purpose. There are good producing wells in all directions from your Section 1.
GIS Map:
CLICK ON MAP TO ENLARGE
Clint Liles
Strange that i can't find production data since it's producing....at least, I got a check so...?
Karla, The W1 for the 1H well still shows pending. The 2H well is producing but was offline all of Sept. for some equipment work. You ( and I ) should get the second check very soon.