just looked at my hard copy map and you are right in the middle of Clayton Williams, J Cleo Thompson/Patriot and a number of other operators. I think 10k would be a reasonable counter and don’t settle for less than 8500 per acre.
What does anyone know about Endeavor? They are in the process of making an offer to buy our mineral rights. Legit company?
I’m still waiting for a friend request answer…
Yes. It is a strong independent, who recently made a deal with XTO (Exxon).
Susan, I am familiar with them. If you want to friend me I’ll be happy to answer any questions you have if you haven’t already gotten the answers. Linton
I was recently offered $4000 an acre to sell my small interest in undivided family property. I also received another unsolicitated offer in the mail for about $1400 an acre. The property is under lease and has producing wells, so not sure how that would affect the value. Also more wells could be drilled with 40 acre spacing. I countered at $15,000 an acre. Told it was too high. They didn’t counter, but then I didn’t ask if they could do better.
Done. I set it to alert me when I get requests but I wasn’t getting them for some reason.
Wade- Our preference would be to lease. That being said, we would entertain an offer to buy depending on the amt . Looking at $4000 an acre is way too low for our desires. That number is closer to a good lease price. Also, I have read the discussion re NMA and drilling offsets. Does the spacing between wells have to do with NMA or actual land acres? Thanks
while looking at the GSI map of 54 T4 sec 30 I noticed a permitted gas well from way back in 1998. Penwell energy well name TXL 29. We never had a lease with Penwell. How can I find out if there was any production?
I’ve had a few of you send me your legal descriptions of your unleased acreage or acreage you want to sell. I’ve made some calls and contacts with those that buy leases and acreage and looks like we’ve got some good possibilities. So with that said, anyone who is currently unleased or is interested in selling acreage, please send me your legal description and contact info. I’ll use my contacts to see what can be done. please note these things take time so don’t expect an immediate transaction.
spacing affects your NMA but has more to do with the actual land and physical placement. NMA is more about how much you will be paid and how much of your acreage is in a unit, whereas spacing determines how many wells an operator can put on a particular piece of property.
Phyllis the RRC has a site that shows all wells and production reports.
Phyllis,
Even though the TXL 29 was a permitted location I’m not sure the well was ever drilled. I see where another well was just permitted back in June 2014 for Block 54/Section 30/A-3763(Wiggins 54-30 1H). As of now I don’t see a spud date or completion report listed.
http://webapps2.rrc.state.tx.us/EWA/drillingPermitDetailAction.do?m…
GIS Map of Reeves County A-3763/Block 54T4/Section 30:
Clint Liles
Do I read correctly that the Legacy GIS Viewer will NOT be available after early 2015? How will we mineral owners be able to check on the drilling, permits, etc. on our mineral properties?
Thomas,
This link is to the 'New" GIS Map that we will be using. It’s supposed to be much easier to use. The RR Commission is still working on it at this time for locating wells, Etc.
http://wwwgisp.rrc.state.tx.us/GISViewer2/
Clint Liles
Thomas,
Also check out this link:
http://www.rrc.state.tx.us/about-us/resource-center/research/gis-vi…
Clint Liles
We want to lease acres in Reeves county A. The 3 year lease is up December 1st 2014 as check for lease was received and chect cut December 1, 2011 B. My sister in law also has additional 15 acres I and she is next to my lease C. I have 15 acres a1411 section 20 c 17 D. First leased 5 years Petro Hunt The current lease 3 years Keystone That is info I have. I am assuming Keystone will not used options as have not heard anything from them the Keystone . Do I assume to expect no activity on leasing these.
Thanks Clint & Billy. I have a call in to Penwell I am sure they can clear this up. we have had some troubles in the past with companies sending our interests to other family members with a similar name.
OPEC fails to cut production is very bad news. $2 gas on the horizon?
Happy Thanksgiving everyone!