at Oil and Gas Financial Journal. Graphs are informative. And this:
Exxon / Saudis Still Bullish on Oil (long term outlook in Exxon rep…
Jan 20, 2015 GLO Sealed Bid Sale – Results have just been posted and were very disappointing to say the least! There were 20 Reeves parcels offered at auction -– all but one with a lease bonus of $3,000 per acre minimum. Only a single bid met the minimum, that being a 11.48 tract near the city of Pecos. Most others were located around Toyah and further north. With the price of oil hovering around $50, maybe it should not be all that surprising:
http://www.glo.texas.gov/what-we-do/energy-and-minerals/oil_gas/sea…
Later – Buzz
J. Hill – more exact location please. Thanks in advance. Later – Buzz
Ouch, Buzz, but it’s not really much of a surprise. Thanks for posting the info.
I’m helping a widow who got a proposed lease in the mail for Section 22 Block 71, in Reeves County. she was offered $600/acre and 20%. Don’t know much about this area and current activity. Any thoughts out there?
Mike, Please contact me on SWD wells. Need to get started on coming up to snuff on this issue. Are lawyers needed do to issues? Is fresh water wells possible? Thanks John Sexton
J. Hill, do either of these fit info from your cover letter:
Alexander Oil Brenham, FM 389 off Hwy. 290 Loop
P.O. Box 769 Brenham, Texas 77833
979-836-2722
Alexander oil Seguin, Intersection of I-10 and 123 N Bypass
P.O. Box 134 Seguin, Texas 78155
830-379-1736
http://investing.businessweek.com/research/stocks/private/snapshot…
Alexander Oil Company is a branded supplier of Shell, Valero, Exxon, and Conoco Phillips fuels and Chevron lubricants. In addition Alexander Trucking supplies unbranded fuels to all markets.
or…
Alexander Energy (now Spartan Energy) out of Canada:
http://boereport.com/2014/02/26/alexander-energy-ltd-announces-effe…
Mike, I have noted discussions on SWD wells. Need to see what I need to look for and what important areas need to be addressed. Is a lawyer needed do to the nature of the well. Also interested in the freshwater well possibility. What areas is this possible. I am about South of I-20. Please fill me in on issues. Thanks John Sexton
We have one of the BHP/Petrohawk leases from Feb 2012 with a 2 year option for renewal. This lease was one of the many that SILVERBACK EXPLORATION acquired. Upon advise, I contacted them this week and they are not picking up our option on BLOCK 58 PSL SECTIONS 15-16 REEVES COUNTY. In our lease the option read $1250 per acre for the first year and $1250. per acre for the 2nd year of the option. To much $$$ for the current prices. I asked them if they typically notify people. He said NO.
Thanks Mark.
George- Call me. 210-228-3617. Very familiar with Block 71.
John,
No we were not discussing a Salt Water Well. Lease was for minerals
I’ve seen Hoffmeister interviewed on CNBC many times over the years. Hard to dispute what he is saying.
Kenneth, take note of what Stephen said about Hofmeister.
I will say this, the price is being artificially manipulated down (obviously by Saudi Arabia) and as such should have a bounce back effect when the realities of idled rigs and all of the reduced budgets start showing up through daily production. Yes it might be 6-12 months, but my point is that the market always tries to get ahead of the trend.
John J. if you’re asking me to contact, you can accept friend request so messaging is possible.
Kenneth, Are you discussing Salt Water Well. Was the lease only for the land use and renewalbe or was there a royalty for injections? John Sexton
Hofmeister? Who’s Hofmeister?
http://www.usatoday.com/story/money/2015/01/19/gas-oil-five-dollar-…
Truth, or just a lot of gas?
I just received my first check for production ( YEA !!! ) and I understand what most of the abbreviations stand for however there is one that I cant figure out and it accounts for the largest amount of production ~ it is “ppro” and only pays 0.50 per barrel ~ does anyone have any idea what that is ??? the division order clerk has no idea.
btw ~ the other payments are for gas, oil and condensate.
it says it is MCF quantity