Any activity in BLOCK 10 SECTION 81 ?
( 509 10 H&GN SEC 81 LOT 12 W/2 NE/4 SW/4 )
There seems to be a lot of low production vertical wells just a few miles to the west of this location.
Is anyone familiar with this area and exactly what's going on ?
ANY INFO would be greatly appreciated. Thank you,Steve
We want to sell 30 acres of surface in Pecos county, and 20 acres of that has mineral rights with it. We will consider all OFFERS!
10 acres Blk.8 Sec.51 H&GN R.R. A-219 (minerals all 10 acres)
20 acres Blk.11 Sec.65 H&GN R.R. A-560 (minerals 10 acres)
please contact here, or wendysflores@yahoo.com Thanks
Wendy please check your email and get back with me.
What is activity like in Sections 45 & 53 of Block 8, HG&N Survey? We received a lease offer & would like to know if it's a fair offer.
It's not really on fire in Section 8 but being in northern Pecos beats being in southern Pecos. Is it a good lease offer? Generally speaking you should get between $1K and $2K per acre bonus, 3 year term, 1/4th royalty.
Thank you Mr Davis. No, the offer is not near that high. It's hard to make decisions on these things - you feel like you're operating blind. We were kind of wondering why we got this offer now when things were bad & the parties who had leased previously seemed to have no interest.
I have always operated on the general rule that you don't want to run lease bonus money off unless the offer per acre is ridiculous. Remember that the last company lost money on you, which is your gain. You still have all of your hydrocarbons in place and a pretty good lease bonus in your pocket. Development takes time, especially at todays prices. Another question that needs to be answered is; are these folks the end users? Or are they just speculating so they can flip your lease later. Remember, don't lease for less than 1/4 royalty too and no 2 year extension (kicker).
Hi James,
How about selling offers? I am in sections 5,7,9 and 11 of block 119. I am getting quite a few (because of the market) but I need a fair per acre value. Thank you!
We signed a lease with Lumberjack/Parsley Energy on January 26th, 2016. Prior to signing we had it examined by an impartial third party and everything seemed to be in order. However, we have yet to receive any payment. We have never had to wait this long with any other companies. Has anyone else had a similar experience with either one of these two entities? Thank you!
Michelle,
I hope you didn't mail back the lease to them without receiving funds first. If you did, go to the county seat court house and see if your lease has been recorded. If so, it's time to get an attorney.
if this is not the case, and you still have your original lease, then there is no harm no foul. Operators do not have to honor an offer unless both parties sign, funds have been exchanged and deposited.
Mr. Meeker,
Thank you very much for this information.
Hi Michelle, we also signed a lease with Lumberjack/Parsley Jan.29th. I was told that once Lumberjack receives your paperwork, they send it to Parsley who then cuts the check, and it is then sent back to Lumberjack and they then mail the checks out to the lessors. I was also told that Parsley mails out a big bunch of checks at one time, but only does that once every month or so. You should have been given a number to call if you had any questions. Maybe they can give you a date when you can expect your bonus. We haven't received ours yet either. Can I ask what your bonus offer was? I hope we both got a good deal, but now I'm not sure I did. We got $500 an acre and that was negotiated up from $350.
Was this for a 3 year or some other term and was it a 25% cost free royalty?
3 year and 2 year option after, and yes 25% cost free. Did you get a lease?
We signed a lease with Lumberjack/Parsley on Feb. 5th & were told we would receive payment in about 3 weeks. Please post when you receive your payment - it should arrive this week according to what we were told.
my land is held by production, It is in the south east portion of the county but has been very strong. Over the life of the well it has produced 250,000 bbls and 260,000 mcf.
Yes, Wendy, we were told the same thing about the check procedures, but when we checked back with Lumberjack we were told that the process seemed to be taking longer than usual. You got a better deal than we did. We attempted to negotiate to $500/acre but were only able to get $400. But we didn't accept the lease extension, we only signed on for three years with a 25% cost free royalty. You did better on the front end than we did. Thanks for the info.
I wouldn't be too concerned about the delay in receiving the bonus payment. It sounds like Lumberjack is a broker for Parsley, and it is not uncommon for the client, in this case Parsley, to fund the broker (or pay the mineral owner) in batches once or twice a month. Parsley is a reputable company and their land department would likely accept an inquiry as to the status of the bonus payment check.
We contact Lumberjack today requesting information on the payment status and they couldn't tell us anything definitive about when to expect it. So, if any of you who are also waiting, receive your payment or any information regarding your payment, please let us know. Thank you.
I'd give Parsley a call if you're wanting to make sure things move quickly, or at the very least obtain an ETA. Operators have an interest in maintaining a good rapport with mineral owners, especially when it comes to the reputation of paying the lease bonus.