We own 100% minerals on 214 acres in Section 168, Blk 13, H&GN RY Survey, Abstract 4312. Landman has approached us to lease acreage. We are unable to find a survey map to see the exact location of our property. Any ideas? Is there any drilling activity in this area? What is the reasonable lease bonus rate per acre? And a reasonable royalty percentage? Thanks in advance for any information.
Below is a map showing where Section 168, Block 13 is. Are you wanting to know where your property resides within the section itself?
Section 168 is a bit out of the "hot areas" of Reeves, but I've seen properties in that area recently lease for ~$800/ac & 25% to brokers for Apache. Would you mind sharing who made the lease offer? If you're having trouble negotiating terms/lease form with the landman you may want to reach out to one of the forum sponsors that does lease negotiations: http://marketplace.mineralrightsforum.com/ad-category/minerals-mana...
Thank you for your reply and information. After we visit with our attorney next week, I will have more information. Thanks again.
You're wise to check with an attorney. I wouldn't have posted an offer on a public forum, either. It's just bad form in my opinion.
Bart, one of the reasons many of us are here is to share such information. Knowledge is power. The more we know about offers and leases in our area, the more power we have in our own negotiations.The companies want to lease for as little as possible; the owners want to lease for as much as possible. It helps for us owners to share.
Hi Liz,
You'll notice I share a lot of numbers here on deals, whether I'm buying, selling or an attempt at valuation on minerals. I do minerals for a living. I agree with sharing methods and numbers, the companies do it as well.
But if someone whom I didn't know and didn't even bother to give me their name asked me to divulge personal details about who I'm working with, I would not do that. No worries about it, just the way I do business.
Mr. Hurst,
Wolfcamp Shale has given you some solid information.
William
I would hire an oil and gas attorney or professional mineral manager. They more than pay for themselves. We have used Wade Caldwell and Buddy Cotton from this forum. Good luck.. Jay
I sold 168 net mineral acres last week. There's activity in the area and I'm happy to share helpful information with you. I will message you my contact information.
Personal Email: lazarallen84@gmail.com