Thank you Buzz for the update
Would like to know what the going rate paid is for water rights lease on our 2 parcels of land: Blk 56, Sec 6 and Blk 56, Sec 16. 163 acres total
I’ve been offered $ .65 per barrel sold. So far, unable to find any numbers for comparison.
Has anyone tried to change their email address here? I’m really frustrated…
Rhea that’s more than a fair price for water sold water for two years at fifty cents per barrel. Just make sure they don’t put a dirty meter on you. It’s very common out there for them to manipulate the meter.
I’d been trying to figure out Silverback’s motivation on the 3 wells Buzz updated status on. Each of those are in sections where Petrohawk drilled wells, now operated by Silverback, that look like turned out to be uneconomic gas wells but would still hold those sections. With all the acreage Silverback acquired from BHP and has continued leasing I thought they must have lots of other sections that would be higher priority to drill. But Silverback just filed W-2’s for the Folk Rolwing A 4-34 33 and the Williams 4-53 2H that show each of them doing 800+bbl with 7 MMCFD, 3 or 4 times what the original wells had done.
Their laterals are longer but Silverback must have figured out some things Petrohawk missed on completing them. Maybe it just shows how much has been learned about the area in the past three years.
Anyone get the offer for a 1 year oil and gas royalty assignment with a sizeable upfront payment from Platform energy? They are actually trying to buy your interest in a strange way. I am not biting on this one.
Yes., Phyllis Tims. One year term lease; BUT if you read on, if they dril within one year it becomes a sale. Very interesting angle they have. We DID NOT bite!!
A new way to make a contract look like a lease when it is really an option to purchase. Whoa. If at all possible, never work from the lease form an operator presents. I have had only 1-2 companies in the past two years who insisted on working off the Producerss 88 they initially presented, versus 100+ who would work off of our form. It is a little more common for them to insist on their form if it is a tiny interest, though.
Can anyone tell me the status of this well? API 389-35158
Georgia our well is located in Section 34, Block 57, Township 2, PSL Survey, Reeves County, Tx.
Garland – permit approved 2-8-16… spud 3/31… drilling completed prior to w/e 4/22 per RigData weekly drilling reports. Later – Buzz
Rhea, my company is getting $1/barrel in Reeves County.
Cindy, would you mind sharing where in Reeves County you are getting $1 per barrel for water?
Hi Buzz - Appreciate if you could pull the status for API 389-35026. Thanks!
Is it possible to pay taxes on only my percentage of shared 80 ac land segment? What do I need to do to establish ownership of both minerals and top land?
Thank you Eric for the information. I will have to read this article several times to get a grasp!
Melissa - the plant is operational now, i.e., ‘commissions’. Using Google Maps in ‘earth’, ‘satellite’ or ‘geographic’ mode you can see the plant site just north of I-20 about midway between Toyah and Pecos… nearer Toyah. Also, there is a map hotlink (‘map here’) at the end of the first paragraph of the Press Release: http://www.eagleclawmidstream.com/operations
It seems EagleClaw has plans to add a second unit at the same site. Earlier plans, I believe, were to add a second plant NW of Toyah.
FWIW, ‘most’ facilities on the map were constructed by BHP prior to selling to EagleClaw.
Later – Buzz
I have a question -
I have a family member who has paid tax on our family land for the last 40 years. He now claims to have the rights exclusively to the surface of the land, though I know none of the others have signed this over to him. Is the one who has paid property tax the legitimate owner of the surface, or is this something that is changeable?
Melissa, paying taxes alone would not entitle you family member to exclusive ownership of the land. All family members that own your land are cotenants. The specific family member at issue seems to be asserting title to the whole property by adverse possession. It is possible to for a cotenant to acquire ownership of the whole property buy adverse possession, but it is difficult because the adverse possessor must “oust” the other cotenants for the statutory period of time. It sounds like the family member is “ousting” folks now by asserting exclusive ownership and not letting them on the property, but it is complicated. Here’s a link to an article about adverse possession of a cotenant in Texas: http://www.fizerbeck.com/adverse-possession-by-a-co-tenant
Saul – permit approved 1-4-16 (2nd of 2 amendments)… spud 2/29… drilling completed prior to w/e 5/20 per RigData weekly drilling reports. Later – Buzz