I live in Florida and just found out my grandfather left me mineral rights. This is a big surprise finding out after 40 plus years. My grandfather lived in Austin and passed away many years ago. Beginning of this month I received letter RE: Oil and Gas Lease for Section 270, Block 13, HandGN Survey, Reeves County, Texas. It states that according to a title research I’m the owner of an “undivided 0.833334 net mineral acres under the above described land”. Does anyone know this area and what this means to me???
Congratulations on your inheritance.
I see where Rosetta Resources has as of May 2018 4 approved permits to drill Horizontal wells(API 389-37110, 37111, 37112 and 37117) next door to the West in Section 266 and ending in Section 265.
GIS Map of Reeves County Section 270/Block 13:
CLICK ON MAP TO ENLARGE
Thank you very much for the information. I’ll do more research.
Again, thank you!
In a recent lease auction of government properties, some Reeves county parcels received no bids, while one parcel received a bid for $25,511/acre bonus–the total amount paid to lease 640 acres was more the $16,000,000! Your 0.8 acres could be worth more than you might imagine. Keep in mind, this was not a sale of mineral rights, companies were bidding to lease State of Texas lands.
Reeves County, Tx - General Discussion
Thank you. I really appreciate the information.
We signed a two year extension lease for 10K per net mineral acre in early 2018 for sections 270/271. We later leased another property for 15K per acre. Oil companies will bargain and they usually start off with a cheaper offer than you will get if you counter-offer for more $$$. Good luck.
Wow. I never even imagined. Thank you for the information.
I have mineral rights in Block 13, Section 239 and have been offered a top lease of 8,000per nma. Does anyone know if there is activity near that section and if this is a good offer? I’ve been reading about 10k per nma offers, so it seems a little low.
Linda there is a lot of activity(permitted locations around your minerals including some good oil /gas wells. Some of the major operators in the area are Primexx, Centennial Resources, Noble Energy, COG(Concho Oil and Gas), and NBL Permian. Seems as though the activity is moving from North to South and from East to West into your area.
Link to production on a well 1 mile west of Section 239:
GIS map of Reeves County Section 239/Block 13/A-317 and surrounding area:
DOUBLE LEFT CLICK TO ENLARGE MAP
Clint, thank you so much! I appreciate the information. Not sure how I feel about a top lease just yet, but it’s good to know the activity and that there are some good oil and gas wells in the area.
My family is preparing for a lease to be renewed this Summer and are curious on how hot the area may or may not be.
418 acres in W/2, Sec 48, Block 71, A-2373, PSL. Any info is appreciated.