Family estate has been approached by an oil related company to buy **surface acres only **(Reeves block 2 sec 11). They would like for the estate to give them a quote per acre. Any thoughts on a price for that area? The company is wanting to pruchase 160 acres on the east side of the section.
Clint
Thanks for your help. I was able to contact BHP and get more info. First day of production was 4/23/2016. Spud date of 3/12/2016 to first day of production of 4/23/2016 pretty quick.
Garland
Mel Gierhart, we sold a similar surface tract, about 100 acres, across the river near Mentone for $1,700/acre. I know someone who got $2,000/ac in Orla. It’s $1,500-$2,000 world in the North Reeves area. They are going to industrialize oil production in this area, lots of infrastructure to make it work, lots of upside for surface owners ahead.
Thank you for the information PV Hefelfinger.
I’ve been approached to sell my surface acres. Is it best to lease or sell?
Land an from Eagleclaw Midstream has been very very enthusiastic about trying to get a right of way contract for a pipeline in E/2 Section 4, Block 53, A-3454, Reeves County, Texas. He is offering 79 per rod for my measly 2% share but is calling often and has initially ant me a very complicated agreement. When I told him I would have to get a lawyer because the agreement ( 5 pages) was so complicated he rewrote it to something he says is near one I did before. He is correct, I did sign an earlier one but made more by about 20,000 than he is offering. I have what you might call " bad vibes." He has called again this morning. What do you folks think?
Oh the earlier one was for a different area. If it helps, his name is Jimmy McMullen
Is there a way to find out how many mineral rights owners are in my block and section. My well produced 5509.11 from May 16 to June and crime June to June 16 it produced 23948 I’m trying to figure out if the check I just received is fare
My wife’s family owns 93 nma in the east half of Bock C-18 Section 14. The current lease expires in October. They are interested in obtaining a new lease. Any ideas about what rate to expect and who can they contact to get the best lease?
Amy John, it’s not how many owners there are in your section - it’s got more to do with how many acres the well covers, how many of those acres you own, what your royalty percentage is to be, and some other details (such as if you are paying some of their expenses). Those last details will be covered in your lease with the company. Can you give us more information?
Do not be in a rush to sign a new lease. There is a lot of leasing activity in Reeves County right now. Lessee would prefer to tie up your minerals in an extension or new lease before the lease expires in order to avoid competition from other companies.
Sorry they made 1.2 million from the production and I was given $900 in royalties plus or minus
So they produced almost 300,00.99 from June it’s to June 16th and I was paid $900.00 when they made over 1 million and I got a check for 1200.00
Do you own the entirety of that 500 acres or a percentage of the 500 acres? How much of that 500 acres is included in the well acreage? What is your royalty percentage? What does your lease say in regards to expenses? There are so many variables that go into a payment.
API 42-389-34975 I have 500 acres
J M Wilson - thanks for the article great info
Mike – the article states “… thought by Seaport Global Securities analysts to be Arris Petroleum and 299 Resources.” Going by ads, Arris has had a portion of their properties in Reeves ‘for sale’ for quite some time. Later – Buzz
JM Wilson,
Do we have any idea who the two companies are?
Mike
Fred – thanks for the info. Here’s another article:
Land Buyers Stampede Into Texas Oil Patch
~~ Wall Street’s rush to Permian Basin is sign that long-awaited recovery in oil and gas prices may be in the offing ~~
By Ryan Dezember and Corrie Driebusch
Aug. 25, 2016
[http://www.wsj.com/articles/land-buyers-stampede-into-texas-oil-pat...](http://www.wsj.com/articles/land-buyers-stampede-into-texas-oil-patch-1472165663)
May have to be a subscriber… Later – Buzz