@ghstexrn here’s an image of your section and surrounding wells/permits for reference.
Thank you again…this has been helpful for me. I truly appreciate your efforts. I am a newbie at all this and am trying to learn all that I can to be able to be in the know so to speak. Between Reeves and Martin county holdings…it keeps me hopping.
You bet! Let me know if I can do anything else.
That well is already completed…waiting for the Frac crew to come compound frac the well. That’s the Denton #1. Nov 2nd, 2018.
ol’ Lawrence in Verhalen, Reeves county, Tx
Greeting Mr Lawrence. The Denton 1 does not end in sec 68 , Don`t know why RRC shows it that way. It actually ends in north 107, 11090 ft TD. By the way boys and girls , there is a site called MineralWise with a load of info that answers a multitude of questions. Good reading. Good luck to all. CharlesJ
help! I have an offer to buy my land and minerals for 10000 per acre with only five days to respond who can I ask locally what its worth? block 55 - section 1 T7 10 acres no lease or drilling ever but we are surrounded by wells . I have until Monday to respond .
Anyone giving you such a hard deadline is likely trying to take advantage of you. I would decline that offer.
In my experience a 5 day deadline is only a scare tactic. If they have any intention of making a good faith offer then you have plenty of time. I know a number of buyers around that would be able to make a competitive offer. If you would like to sell competitively feel free to message me privately and I can put you in touch with more offers.
Don’t sell, unless you are desperate for cash. If so, I’ll buy it myself. Clearly, they think it’s worth more than their offer.
Listen to the experienced members of Reeves County MRF, Mr. Koller.
Get yourself an oil and gas lawyer to represent you in any negotiations.
Wade Caldwell, a member of this forum, is a highly recommended lawyer and negotiator. Go to https://ceflegalsa.com/ and consult with him is my recommendation.
ol’ Lawrence in Verhalen, Reeves county, Tx
Thank you so much you are very helpful and I know we will need lawyer.
I can tell you that my family and I have been VERY pleased with Wade Caldwell. He and his company have assisted us before and we are using him right now for some help. We would highly recommend him and his prices have been very reasonable.
My family recently sold a portion of our mineral and surface rights in Reeves County, TX. We retained Wade Caldwell of Caldwell, East, and Finlayson in San Antonio, Tx since we wanted to protect remaining mineral rights. Mr. Caldwell and his team were wonderful to work with, and their knowledge in the oil and gas industry is invaluable.
Noticed natural gas prices are inching up of late. As the production on the family property is just about all natural gas, I would gather this translates into higher royalty payments. Total newbie to the royalty side of the equation. We are on just our third royalty payment. And I do realize there is a lag between payments and activity. https://www.nasdaq.com/markets/natural-gas.aspx
That price you are seeing is the price at Henry hub, i.e. the natural gas equivalent of WTI. There’s still going to be a deep discount on gas because of the lack of infrastructure in the area but still should see a slight uptick in gas royalty payments in the area.
Bummer. Was hoping for the 60 percent or so jump in royalties (
I have a question that I have been very confused about. I know that there is as midland differential for price of oil and gas. I also know that oil companies Hedge some of their sales, sometimes for months or a couple years. So when they pay royalties, is it based on the hedged price, or the spot price. I know that the permian basin WTI is alot lower right now, but just trying to figure out…BASICALLY… what they use to base Royalties on. Thank you so much!!
Is there an easy way to identify the status of a well. We have seen royalties from 5 of 7 wells drilled. Don’t think we even have division papers on the remaining two (I know one of them we don’t). One of the remaining was completed pretty close to the other five, while the seventh one they just finished drilling and fracking about a week or two ago.
This hedging crap needs to be outlawed.
Hedging does not effect the price of oil that royalty owners get. Hedging is used to stabilize cash flow for the oil and gas producers. Hedging activities are purely financial, i.e. simply buying and selling financial positions, and don’t involve the actual transfer of oil & gas.
Good article explaining this in section 6.07: