Own property in Section 26, Block 51 Reeves County. Does anyone know what the current bonus rates are for lease extensions. Also any background on Noble Energy. Interested to know of any activity in this section/block.
Maybe this will help - the section I’m referring to is in Township 8.
Since you mentioned Noble I’m figuring you are in Abstract 2788. See if the map below looks like the right area. Looks like the one well that was drilled there in 2013 wasn’t strong enough to inspire more action, but activity could be picking up particularly in the sections that join you on the south.
COG permitted several wells there in the middle of last year and they may be completed by now. Occidental has wells to the east and north of you that have been producing since 2012 but hasn’t filed any permits recently. It looks the well Oxy has in the section at the northwest corner of Sec. 26 has been averaging 30,000 barrels a month for 7 years so it’s hard to figure why they haven’t drilled more.
Noble is a big independent that bought Clayton Williams in 2017 for $2.7 Billion and seems to be pretty aggressive on drilling in Reeves Co.
Don’t have any ideas what lease extensions are going for there but, depending on how much acreage you have, it might be worth checking with COG to see if they are interested before resigning with Noble.
We leased to Noble, a little more than 6 acres, in Reeves County in early 2018 for 10K an acre.
Thank you Dusty and Rick for the information. Have 320 acres all on the east side of block 51. A2788 is correct. Have been offered 5K/acre but hearing the number should be higher. Appreciate the reference to COG. Do you have a contact you would recommend along with number/email.
Again thanks much for the info.
COG is a subsidiary of Concho Resources. Not sure how they divide up the county but the two landmen (landpersons I guess) who handled Reeves are Lizzie Laufer and Laura Paige Innerarity who are both in their Midland office (432) 683-7443. If you prefer to email you could call that central number and ask for their address.
Thanks you - Ill give them a shot