Folks…we have signed contract with Dawson Geophysical in Midland for 3d surveys of several family sections,south of Pecos…at 17.50 per acre…we feel that it can only enhance the value of the land/mineral rights.
DCole…we called a few folks that we know after we were approached by Dawson. The bottom line is that they do a 3d survey and try to sell the results to operators…and you get paid for it…not a bad deal…Dawson appears to be a long time company in oil patch with a good reputation…
Since we have operating wells on the sections there wasn’t much risk for us.
Stephen and Williams - Thank you for info. We also have wells with OXY and lease in place so was curious why we were being approached and not at university land rates.
Thank you, Sarah. Much obliged.
Glen
Glen::: as William said, send ‘CERTIFIED LETTERS’ with a return receipt. Then you have a record in case of legal action. Good luck.
Clint Liles
Glen…check your email…
Bill Woods
Thaaaank you, Mr. Daze. Great info.
Glen
Dawson is known for using multiple sensors per acre to accumulate data for three dimensional depiction of geological formations.
The area about and in the northern part of Block 13, corresponding to an area identified as an over pressurized “sweet spot” by Eagle Oil and Gas, seems to be of extreme interest to different major players.
Published reports from five to seven years back fanned excitement about the Delaware Basin having as many as seven horizons of oil and gas deposition worth drilling for extraction. And beneath those, other gas holding horizons beyond the current economics of extraction.
My conjecture, they are still being surprised by the extent of the petroleum in place, now accessible with fracking and directional drilling technology.
Glen…if you need new contact info for Arabella please let me know.
Due to our ‘nagging’ them they provided us with all of the docs for their gas and oil sales in 2014 for our well (Sunoco Logistics for oil and Regency for gas). You should be able to get the same info for your well if you threaten them enough. I would be glad to help in any way I can.
Bill
Glen, You can also check on the reported sales and volumes on the Texas Comptroller site for Graham well. Every company must report the numbers for severance tax purposes. You want the CONG lease drop on Texas Comptroller. You do not need to log in or have an account as that is only to report. Under Public Information, select “Lease Drop-Crude Oil” to get to Inquiry page. Since your well has only permit number, enter the 749912 under Permit; dates 1301 (Jan 2013) and 1503 (March 2015) and select Reeves County. (You want to select county in case there is similar permit number in another RRC district.) You will see the first oil is June 2013 at 9648 bbl at $893,208.83 sales. Reports are monthly thru March 2015 at 1220 bbl at $50,035.97. Same process to find gas and products sales under Lease Drop-Natural Gas. Arabella is only reporting “residue gas” and more recently “lease use” and not separating out the liquid products. If you have your royalty decimal, you can calculate what you are owed.
Note that once a RRC lease number is assigned, you use that instead of the permit number. 6 digits are required whether oil or gas well. Since oil wells have 5 digits, you add a "0" in front.
Note also that Comptroller site does not give you name of well with data.And as you and I have discussed, Lynn, no telling what percentage of the oil in place might be recovered 5-10 years from now.
Find Arabella’s website and review their SEC filings. It says alot.
Thanks Wade for the Arabella info. All I needed to see was “going concern” in the auditor report. The financials clearly paint the picture to support the auditors opinion. Good luck to those of you under lease with them. Unless oil prices recover in the next year (which doesn’t seem likely), there will likely be other operators in this situation.
Bates,
texasfile.com has recent records from Reeves Co. If it was leased within the past 6 years, you can probably find it there. Search the name of the person you inherited the interest from. If you don’t find anything, it doesn’t necessarily mean it’s not leased though. It could be HBP through an older lease prior to 2009. You will want to check the RRC site to see if there is production on the land in which you have interest. The landman you hired should know what to do.
Hello,
I’m trying to determine if there is a lease on the mineral interests I inherited and the landman I hired told me the only way to figure that out is to go to the Pecos County Courthouse and search the records there. Is there any other way to see if my mineral interests are currently under lease without paying him to drive all the way down there?
Thanks for your help.
What are the mineral leases commonly going for around the W/2 of Section 23, Block C-7 in Reeves County these days? Thanks everybody!
There are two possible ways, first if you have any copies of the records of purchase or transfer anywhere along the chain of ownership, your landman or you would have a starting point. Sometimes tax records on the property can give an indication of what to look for.
Unfortunately, Reeves County is a busy place, without much infrastructure to support the demand on access to its land records, so you will most likely have to go there yourself with someone knowledgeable about record search, or retain someone.
I hope someone in the area also posts in reply. My cousins lucked out, as there was an established recorded chain of records which were located and which matched portions of records and correspondence held by different family members. We still had to retain a landman to find the original records
Thanks Lynn & Mike, really appreciate the quick response.
I can see that there is a lease on texasfile.com, thanks for the tip Mike. Mike, what is an HBP out of curiosity?
Thanks.
HBP is short for Held by Production. A lease can be completely or partially held by production if the leased premises is drilled or included in a Unit. Whether or not it is completely or partially held depends on the retained acreage language in the lease.
Is it an accounting thing, or have you been on the ground and witnessed this? Flaring is seriously frowned upon by the RRC.