Oil & gas discussion group for those interested in Reeves County, TX. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
Looking for any information on lease offers for property just west of Pecos.
We have an interest (1/2 interest in 88 acres) in Sect 76 (on the south side of Interstate 20 adjacent to the 1st Pecos exit on the west side) and have been offered $800 per acre for 3 yr w/ 2 yr ext at $800 at a 1/4 royalty. Anyone with an interest in this area have any offers or accepted terms?
I found on this site what appears to be a partial listing but I am having trouble figuring the data out without a contract number. If someone helps me with that I will certainly let you know if I am able to decifer the info.
Just joined. In the process of considering offers for our mineral rights in Reeves county. Our current agreement does not show a contract number. Does anyone know how to find out ones contract number? It looks like I will need it to look at what others near us are getting.
I wish there was a way of finding out what adjacent land owners are receiving but I don’t think there is.
Craig, We own surface and mineral rights in Reeves County also. They are in Block 58 Sections 15-16. Somewhere on this site I found a link to the RRC that showed the prices of all current or pending leases by block and section. The surrounding sections in our block have gone or are going for $1000., 25% and 3 years. Hope this helps.
Thanks for the info. We decided to sign a lease this week. 3 yr at 25% with no extension for $2k and acre and several clauses that we asked for. Now we will just have to wait to see if they drill.
Craig, Great for you!! Our lease is up in Oct, 2011. We are north of Toyah about 15 miles or so. We have a gas well on one section now but is not producing very well. Don’t know if they will go in before the lease is up or not. Hopefully not!! I have learned a lot on this forum. Which I would have known about it 5 years ago.
All of the recent posts are extremely interesting! I hope that one of you could help me out. I have been contacted about interest in drilling where I hold the mineral rights to 277 acres just north of Saragosa on land that used to belong to my Grandparents. Does anyone have an idea what current leases in this area are commanding and/or any idea where in Reeves County I could find this information. I’m hearing offers of amounts significantly less per acre than what’s being mentioned here and want to make sure I get the best offer. This is the first time that I’ve been through this since I inherited these rights from my parents. Any info is appreciated!
Randy, I am a novice at this business, but I know that lease bonus payments and terms vary greatly depending on a number of factors including location and size of parcel. You can check on activity around your property at http://www.rrc.state.tx.us/data/online/index.php#, but I don’t know of anywhere to find out current lease offers. I checked with other companies to see if they have any interest in leasing your minerals. Good luck.
We have 2 sections, 1240 acres N, NE of Toyah probably about 10-15 miles. and last summer got an offer of $500. per acre, and 25% royalty. In Dec. a different person offered $1000. and 25% royalty. Both of these were for 3 years. 2 weeks ago we got either $1000. or $1500. per acre but with a “top lease” as our lease isn’t up until Oct 2011. I had to read on this forum what a “top lease” as we had not a clue. We don’t think a “top lease” is the way to go after info from people on this forum so will wait and see.
Are there any maps of Reeves Co. online that show locations of blocks and sections?
Garland- The Texas Railroad Commission has many databases, one of which is a mapping program. The link is at the end of this comment. Do a search by survey/abstract & county and it will take you to a map showing that location, along with information on drilling permits, wells, pipelines, etc. It has a lot of different pop-up screens, so it can get confusing at first, but you’ll get the hang of it.
Kenneth- Thanks for the info. I would just like to see a solid offer at this point. You have a nice large tract, and that makes it even more attractive. Sounds like you’re doing the right thing waiting it out–although it sounds like it might be a stressful wait until October!
Hi all! For some reason, this group never shows on the texas county group listing on the webpage, but I find it through searches. Don’t know what I’m doing wrong, but I’m here.
I have property 10-12 miles NW of Toyah. 250 acres, mineral classified (relinquishment act). We received an offer to lease in February by someone I thought was a reputable landman. He has been working in the area for many years. Started at $450 an acre, reached $925, but that basically is based on what the GLO demands. Like a the trusting idiot that I am, I signed the lease, sent it in. Was promised over and over that the bonus money was being sent. To make it short, the deal recently fell through. I have not received any other offers. If I had during these last 3 months, I would have told lying landman that I had another deal and ours was void since it was never paid. I came here seeing if anyone else had land in the area and had received offers lately. Looks like current drilling activity isn’t in this area, but I’m sure lots of the land around me is still under lease from the last big boom, or held by production. I promise if I do get any offers or other information, I’ll be glad to share it here.
Just leased land in threemile draw for 1000 an acre and 25 %.
If anyone would like to share info on who you leased with or landman contact info, I’d appreciate it. Feel free to PM me. I know they will usually find me, but I’m afraid that with the last guy locking us up for 90 days, we might have been skipped. Our last lease expired several years ago, and now sounds like the right time to do this. Thanks all!
Correction: Hwy. 285, not 281 as per last post.
Hi everyone, we’ve a section between the Pecos River and Hwy 281. We obtained 25%, and $500 in 2009. Lease is up in 2012, but we gave them the right to extend. They probably will, if nothing else, to deprive competitors from the formation from another parcel. The drilling company negotiated it initially, but Devon Energy was behind it. Felt a bit dirty after seeing that many others in Reeves are obtaining $1000 bonus rentals. However, I have not had time to compare their location to ours. Ours has no producing wells within several parcels of ours, a horizontal operation two parcels South with results I’m unaware of; and a dry well to the North a few parcels away. However, the drilling company represented to me that they were aiming to go as deep as 18,000 feet for oil. I suppose this is a new interval, and I believe we are over the Bone Springs formation. I suspect that by entering into a $500/per nma rental, we put ourselves on the backburner for drilling, as those parcels getting higher rentals and equal or better field access will probably come first to cut short the rental payments. Devon, in their Q1 Conference disclosed 4 wells in the Bone Spring formation. One “interval” yielded an initial production rate of roughly 1,000 barrels of oil per day. I do not know whether our parcel’s location is a high priority for drilling. I doubt it.
I see where others have asked links/urls for ‘lease’ prices in Reeves County,
but I don’t see or can’t figure out how to do it? We have several sections expiring in the next couple of months and I like to a little research.