My brother and sister and I have some surface property just east of Toyah. A couple years ago we signed a lease on this land to drill some SWDs. So far nothing has happened. We were told this would produce @ .50 per barrel, about $10,000 per month. After checking with the leasing company now they tell us that they have not been able to get permission to drill from the RRC, but IF we agree to change the agreement from a commercial well to a private well it could be approved quickly BUT the payments would be reduced to $.05 per barrel. I think this is a bunch of “hogwash.” Can someone advise me on this, we will appreciate it.
What county are you in? Posting it there is probably more useful than in the Operations topic.
City of Toyah, 20 miles west of Pecos in Reeves County, Texas.