r. eiland I think Wade Caldwell would have an answer to your question. He has helped me on several things in Reeves
Not much activity around you. I would be happy to take a look and give you an evaluation.
Tracey,
Apache spud the Ortler #1H well on April 12, 2016 in the northern part of Section 25, Block C15. My guess is they like what they see. Iād be inclined to take a pass on the purchase offers until you see what that well does.
Just looking at Drilling Info. I see two wells in the Balmorhea. No information on it. It is 6 miles to the north. One more well to the north of that 3 miles and nothing else within a 20 mile radius. I guess it is all in what you call activity.
Thanks for everyoneās input. I went and pulled our leaseā¦
We have various parts of the below totaling close to 5,000 acres. My siblings and I share 31 acres a piece. So with the price per acre getting so high, when is a good time to sell? Or stay in the game and take the risk? The sale pitch was to hold out and get the $ as it trickles in or cash out now to get it. Also they said our part is on the edge and probably wouldnāt see as much as other property. Said rates now are 5000-7000 per acre:
Sec 3 C-15
Sec 1 C-15
Sec 2 C-15
Sec 6 Block 13
Sec 1 C-14
Sec 25 C-15
Sec 27 C-15
Sec 26 C-15
I visited the site and I did find some important information. Thank you again.
We signed with Graham in may. I was informed last week they are no longer handling the leases for Apache. I assume that they were flipped. I was told that they did not know who the was now managing the leases for my family land (block 39). How do I find the information?
Tennisdaze Thank you for the information. I am new to this, bumbling through and trying to learn as I go.
could anyone tell me how to contact the GLO concerning PSL land in Reeves. It is my understanding that they set the lease bonus,etc.
thanks
Drew Reid at 512-475-1534. GLO does not set bonus per se as that is what you negotiate for mineral classified lands. Drew can give you guidance of recent leasing. You use the Relinquishment Act lease form which is on the GLO site. The lease has been updated and is very good. Some surface owners add provisions such as payment for surface damages to be divided with GLO. Those with a lot of ranch acreage add other protective provisions. Rates are continuing to increase all over Reeves County, but vary widely. If you post the location, you will get feedback from others. Do not get pressured to act before you gather information. Good luck.
For mineral classified lands, State owns minerals. Under Relinqishment Act, surface owner is leasing agent and receives 1/2 of bonus, royalties and delay rentals. State gets 1/2 of related surface damages, such as well pad and pipelines to well. For other surface use, surface owner gets all. Different for hard minerals including commercial calice operations as State gets 80%.
Correction; "maybe i did NOT give enough info- sorry
What percentage of the Royalties does the GLO retain from a producing well on PLS lands?
Where Texas does not own minerals, then mineral owner leases for himself using his own form. State takes nothing. Surface owner is limited to damages and other surface rights and does not share in royalties.
Thanks for the reply TennisDaze. Maybe I did give enough info. My question pertains to PSL lands where the minerals and surface belong to parties other than the State. Then what percentage of the royalties does the State retain for School Funds? thanks
A permit was issued for this well can anyone tell me if it was ever drilled. 389-35151 sec.46 blk.57 a-3035 ?
Garland
Garland,
Iām fairly sure it was drilled because the spud date(begin drilling) was 03/12/2016.
http://webapps2.rrc.state.tx.us/EWA/drillingPermitDetailAction.do?mā¦
No Completion Report found.
Clint Liles
L.C., one caveat, State has reserved NPRI on some lands. This would be deducted from royalty interest specified in the lease.