Glen, do you really not know how many acres you have? Maybe the description on the Reeves County tax statement (if you own surface… sorry but can’t remember if discussed!).
Susan - in general, you will not find what people paid for real estate, leases, or minerals in the public records. Mainly they do not want their competition to know what they paid. It will always say something to the effect of “good and valuable consideration.” There is no list that the County will have. It’s all word of mouth which is why this list and everyone sharing their experiences is so valuable.
Press Release – Clayton Williams Energy Announces Strategic Farmout Agreement Covering the Western Portion of Its Reeves County Wolfcamp Position
Published: Nov 12, 2014
`````
PRESS RELEASE – Caza Oil & Gas Announces Sizeable Farmin Opportunity
Published: Nov 12, 2014
http://www.marketwatch.com/story/caza-oil-gas-announces-sizeable-farmin-opportunity-2014-11-12
Sorry, cannot locate a detailed map showing location of the 15,000 acres.
`````
Clayton Williams: Farming Out 15,000 Acres In Reeves County
By Richard Zeits || Zeits Energy Analytics
Nov. 12, 2014
http://seekingalpha.com/article/2675585-clayton-williams-farming-out-15000-acres-in-reeves-county
Later – Buzz
I’ve been following the discussion and wonder if anyone knows what the sale prices have been recently of mineral rights in the County. If not off the top of your head, does the County keep those records online that I can look up? Also, how far away would a producing well have to be to not impact the oil underneath my property/mineral rights? I think in terms of aquifers and the fact that someone pumping water a hundred of miles away would adversely affect my well. Is the oil locked in the shale underneath my 200+ acres trapped and merely local? Thereby available seemingly for perpetuity. Thanks.
As to sales prices, I know of one sale around 15 miles SSW of Mentone that fetched $10,000/nMA recently.
Thank you, Stephen. I have since tried to find data on the Reeves County site and haven’t had much success. Any suggestions?
This is a follow up question posed by EM last Friday about participating NMA and non-participating NMA. We have participating NMA in Sections 17 and 18, Block 56 PSL (abstracts A-4452 & A-4453). As I understand it, all the minerals (both participating and non-participating) in these two sections are undivided as a single unit. I understand how the royalties on the leases on the participating NMA are calculated, but how are the non-participating NMA owners paid and are there any negotiations about rates especially if the participating NMA leases are for different rates? Donny
Forgot to say we also have non-participating NMA in the same two sections of Block 56 PSL, Sections 17 & 18, and it is Block 56, not 55 as I wrote. Donny
Awesome info Buzz. Thanks.
Susan, the state believes that a well drilled and produced from the shale does not drain my acreage, even if it is within 1,000’ of my lease line. I have had my lawyer talking to our operator about the lease requirement to offset wells drilled within 1,000’ of our lease line, per the state lease requirement paragraph 17. The state has given operators a pass on this and I am NOT happy.
Wade - Thanks. I am understanding the reason that the first advice I received in this forum is patience.
donny - let’s say that your ancestor was the one that sold the nonparticipating royalty to someone and that was for 1/4 of the minerals in a section. The remaining 3/4 and the executive rights were passed down to you and your relatives. So now, your family, collectively, owns 3/4ths of the minerals and all of the executive rights under that section. You have the right to negotiate for 100% of the section, receive 100% of the bonus but you will only receive 75% of the royalty because of the outstanding NPRI. Essentially, NPRI does not get to participate in the bonus or the negotiation process. They do receive their share of royalties once a well produces.
For calculation purposes, the interest times the royalty times your acreage divided by the amount of acres in a unit is what you will wind up with on your check. (Someone please correct me if I’m wrong). So in this example the NPRI is (1/4 x 1/4) x (640/320) = 0.125 is the NPRI amount. Essentially if 1000 barrels of oil are produced in a month you would multiply 1000 x 0.125 = 125 times the price per barrel. Current at $75.00 = $9,375.00 for the NPRI in this example.
Rosetta Resources: Hybrid Completions Show Strong Improvement In Well Performance
By Richard Zeits || Contributor
Nov. 10, 2014
Summary
-
Rosetta’s latest well results confirm the success of the modified frac that includes hybrid fluid design and increased proppant loadings.
-
The company expects Reeves County Wolfcamp A economics to be comparable to the Eagle Ford.
Later – Buzz
Thanks for the info, Buzz! Linton
This link is not operable.
Clint, can you tell me who is in the area of C-8 Section 26? I still have 3.33 NMA there which is not leased. Thanks. Linton
Clint - superb research for J Hill… thanks for taking the time to do such great work for the forum! Later - Buzz
Good morning to my good friend Linton,
In the surrounding area of Section 26, Block C8 are some wells that have not been drilled (approved permits) and a couple of producing wells.
Well #33732 - Arabella Petroleum Co.
Well #34585 - Elevation Resources, LLC
Well #33391 - Petrohawk Operating Co.
Well #32922 - Clayton Williams Energy (Section 25)
Link to Completion Report on Well #32922:
GIS Map of Reeves County Section 26, Block C8 and surrounding area:
I have a general question concerning geology and oil and the law in TX.
Recognizing that the geology of the earth does not have any connection to property lines we place on maps. If a person owns mineral rights to a section of land, and that land is surrounded by wells placed at the minimum legal limit (200 feet?), should I be concerned that the oil in the ground as defined by my property lines might be in the process of being pumped out by my neighbors next door? I am sure this has come up in case law. Is the answer, “So sorry Charlie, you should have drilled it first?”
Second question: What if the company next door is the same company you have a lease with but you are not being drilled? Any implications there?
Just curious what the rules are.
Will Williams
Thanks, Clint, you’re the best, don’t know what we’d do without you!