New Mexico Land commissioner wants to raise royalty cap on state lases from 20 to 25%. Given that 25% has been the norm in the Permian for 10+ years, better late than never.
thank you for all your input to keep us all up to date even in NM oil play.
Big water deal- University Lands selects Layne and H2O Midstream as preferred water provider for 167,000 acres in Wink and Loving County.
I don’t publish stock picker articles very often, but extensive analysis of rigs and production by Apache. I think you have to take these stock picker articles with a very large grain of salt, because the authors often have short or long positions in the stock and are trying to influence stock price. This one says no, but still skeptical.
Report from Environmental Defense Fund (big grain of salt due to source) claims Permian gas flaring is under-reported by 50%. How they can tell that from satellite photos is curious, but would not doubt some under-reporting goes on.
Whitewater/Agua Blanca being sold but management staying in place. Active pipeline company.
Noble, Apache, and Diamondback exercise options to buy part of Epic pipeline.
Forbes article on how the Permian is driving profits at the majors, record production, and record exports.
Sinclair drilling wells underneath Big Spring and Apache donates $1 million to rebuild Balmorhea state park pool.
Capital expenditure cuts for 2019 being announced. Not surprising given price softness and takeaway capacity issues. Apache 3 billion to 2.4 billion. Carrizo 35%. I am sure there are more, so if any others have been seen, please post them.
Can anyone tell me if it is legal for an oil/gas company (Leesee) to sell their lease to another oil/gas company in the 3rd year of a 3-year lease? Without telling the Leesor? (i.e. me).
Depends on whether your lease required them to get your permission to assign it.
Wade, can you recommend a good oil/gas attorney that can work on the Lea County, New Mexico area? I am a mineral deed owner (several) with some leased and some not.
my family owns land in Reeves TX…PCore has drilled 3 producing wells (you can read about 1-12 on their website) and several permits to drill…
I know in the past that area was perceived as wildcat…what are your thoughts on possible further development in c-16?
also- our lease will be due Oct 2019. our understanding is that the operator (?) will need to drill/permit several more wells to secure the acreage otherwise ia bonus is paid (I am guessing that would be the case if they continue to have interest)…we are new to this and still trying to get our heads around this…
Thanks in advance
You may want to move this post over to the Reeves Co, TX topic area.
Hard to answer without more info, plus I have been somewhat reticent on responding to a lot of posts, as I would not want to comment on something we may have a conflict of interest on. Sorry!