Concho is only a couple of miles to our east. I so dearly wish that they become interested in acreage to their west.
Yeah, Wade, it’s the pits with CWEI. My 3 yr lease up in Oct. They have not gotten any permits for our section.
Ledie, what is Arabella offering you? Some of us have some info that might be of value to you.
Our family has inherited mineral rights in Reeves County. We previously had a lease with Anadarko which expired in April, 2015. The legal description is Section 27, Block 4, H & GN RR Co. Survey, A-395, Reeves County, Texas. Can anyone tell me if there is much activity in this area? We would like to lease again, but we are uncertain how much we can expect. Ideas or suggestions are welcome.
Anyone had any business with Arabella in Reeves Co TX ?
Thanks M A Smith. We too had a tentative offer of $3500 right before the crash. Your lease terms sound like the last lease we had, so we would be happy with that. Can you tell me the name of the company that holds your lease? If you would prefer, we can communicate privately by e mail.
Thanks Clint,
This came from some of the paperwork from the last lease. I will go through all of the other documents and check it out. Thanks for calling this to my attention.
Kathy
Kathleen, we just signed a lease on a section in Block 4 about 3 miles from you for $2500/acre, so there is still some life there. On a side note, we’d had an offer last year for $3500/acre just before the crash in oil prices, but it fell through at the last minute due to that unfortunate drop. The owner of the adjacent block did get $3500 earlier in 2014.
25% royalty. 3 years. no extension.
M A Smith, can you give us any more of your lease terms - percentage, length, and so forth? Thank you!
Kathleen,
You might want to check your legal description of your minerals. The GIS Map shows that Reeves County A-395 to be Section 29/Block 4. A-394 shows to be Section 27/Block 4. Which one is yours?
GIS Map of Reeves County A-395 and A-394:
Thanks,
Clint Liles
MA Smith, where is your acreage from Pecos, please?
Wade Caldwell - We’ve been contacted by CW for an extension. Our property is held in trust for us and our bank would like to talk to you about CW’s offer and possibly having you do our negotiations (if there is any real negotiation to be done). If you are interested, please contact me. I’ve put in a friend request with you. Many thanks! - Liz
Clint,
I’ve gone back through all the paperwork I can find. It’s confusing. The 394 and 395 numbers were used interchangeably in old leases and correspondence. But after looking at the map, it appears that you have the correct description and it is indeed A-394. Again, thank you for your eagle eye. I’ll make sure all future documents bear the correct description. M A Smith, is this still close to your acreage?
In general, the Reeves lease market is weathering the storm pretty well. In the better areas, $3500, and even better, is pretty common.
My minerals are in Block C-7 PSL, Section 26, and I’m under a 3 yr lease with CWI that expires this coming October.
Had a curious phone call from a man that said he was working for Concho, wanted to verify my lease expiration date etc. When I asked him point blank who he was working for and why, he vaguely said something about Concho working with CWEI. I told him CWEI had offered to top lease and ask what he was offering and he said he had no authority to lease.
I am wondering if Concho is negotiating to buy my lease from CWEI. Any thoughts out there?
Wade Could you tell me where the better areas are in Reeves county that are leasing for 3500 Thanks, Phyllis
Kathleen – I just send a friend request so that I can privately send you the name / number of the agent we dealt with. Yes, we are 3 miles from you.
Many thanks, Wade.
Wade, there are questions about Arabella. You suggested looking at the SEC filings. Which search feature you are talking about? Arabella has my lease, payments have been historically late, and I would like to keep up with what’s going on with them.
Thank you,
Glen Kirk