Thank you, Craig, for checking for me.
A new lease does not null and void an older one, unless it is with the same company and the new lease specifically states that.
If the company isnāt reputable (meaning this group says good things), iād be careful.
Marian, I believe you mean Wade Caldwell. My understanding is that he has a good reputation among members of this forum but I do not know him personally.
More press explaining the recent run up in bonus prices. I would estimate a 50% increase in average bonuses in the last 90-120 days. Similar articles in the WSJ and other publications.
https://www.bloomberg.com/gadfly/articles/2016-08-26/blackstone-perā¦
RE: 480 acres in Reeves - A-5759 H+GN Blk13 Sec68 Clayton Williams currently hold lease, expires in Dec 2016. Any activity or planned activity in that area? What companies are drilling near that area?
For Buzz and JM, Another company adding interest to the Permian is RSP Permian (RSPP), but they expect their efforts not to move very fast until oil gets to about $55.00/boe. Could be a long wait.
R / fred
I have a few questions about this offer that we received today.
1. Is this the norm to conduct business by e-mail?
2. There is currently a lease on these mineral rights. Would a new lease null and void the old one?
3. 10,000 royalty per mineral acre is that like a bonus?
4. Does this part here mean that wed will receive 25% royalty? (property with a 1/6th royalty (reduces proportionately from Ā¼ royalty).
Sounds to me like a purchase offerā¦
Yes his name is Wade, my error. Thank You Eric We donāt want to sign a contract and find out within a few days, weeks,etc. etcā¦that it was a huge mistake.
Thank You Craig
Good article on shale well decline rates. Go to article āShale Updateā on page 18: http://digital.ogfj.com/ogfj/201608?pg=1#pg1
Later ā Buzz
PS - JM, you do good work!
Pat, Looks like a shut in Clayton Williams well in the sect just north of you (drilled in 2011) and a new permit (July 2016) for a well in the sect to the east of you for Primexx Operating Corporation.
Thank You Saul & Tracey =)
Someone had posted that Blake Caldwell is a good lawyer. Is He?
Your so right Saul. We kind of felt with this offer having an expiration date of 9/1/16 that they were trying to rush us.
Thank you for the recommendation Liz, Saul, and Eric.
Marian, I can recommend Wade Caldwell also. He does a lot of mineral leases, is great to work with and his fees seemed reasonable to me. You definitely should work through an attorney. You wouldnāt want to accidently sell minerals instead of lease them! Good luck.
We thought our best route would be through a lawyer.
if even he gets it a quick run through, that itself makes a HUGE difference (and assurance).
Wade did a very good job for us as well as a number of other members in this group. Highly recommend him.