I talked to a guy in Pecos who says the courthouse there is full of landmen everyday. We are currently leased yet have received some toplease offers so I would assume there is some real interest in the area. Any first-hand knowledge of this? Thanks!
We have just been offered a lease on our land in Twp 2, Block 57 T&P Survey located just west of Orla. The lease is with Anadarko who previously leased the same section and let the lease expire 2 years ago. We have two adjoing sections which are all leased though production is small and drilling is not happening. Be glad to chat with you about it.
James, I'm around Balmorhea. I've been approached by some landmen recently to lease our minerals. I'm like to reach out to them directly if possible. Also, do you recall the name and number of the landmen you had offers from? Also, what have you heard recently about bonus and royalties? Thanks,
Tommy Joe
James Randolph said:
We have just been offered a lease on our land in Twp 2, Block 57 T&P Survey located just west of Orla. The lease is with Anadarko who previously leased the same section and let the lease expire 2 years ago. We have two adjoing sections which are all leased though production is small and drilling is not happening. Be glad to chat with you about it.
jkrandolph@gmail.com
Steve, we are west of pecos. Been approached by lone star and clayton. the top offer i have heard around us is 2000/acre for bonus. What about you? you think this is right? What are the offers like in your community?
we had some friends who had minerals in the barnett shale near fort worth and they said to be patient, that once the bidding war really got going the offers went sky high. $20,000/acre high for smaller tracts was common. that was then in a differnt play but my point is that if we all are patient and let a bidding war get really going then the supply of leasable land will get less and the landmen will be forced to bump up their offers to clear the market. and right now with the new year, the land men have new budgets and are flush with cash I figure.
We have mineral rights 3 miles east of Balmorhea. We have a offer of $375 for 3 years 20% royalty.
Is that the going rate for that area?
Bill Stancliff