Marian, that is sale language. $10,000 per acre if you are leased at 1/4.
If you had a 1/6 royalty (.1667) they would proportionately pay you in the $6,600 range per acre. If they thought they would be able to lease the acres they bought from you in the future, you can subtract future lease bonus from the purchase price and figure out what they are really paying for your acreage. You should also be mindful of the tax on the sale.
If they buy your acres for lets say $100,000 and you have to pay 15% capital gains tax, you would net only $85,000 after the government gets their cut.
Good luck whatever you decide.
If anyone knows the going lease rate for land in Block 55, Township 7 would you please let me know. Thanks.
The FUELFIX article Wade Caldwell posted was certainly uplifting. Too bad the author did not include a map showing where those purchases are located. That would be kind of interesting to see.
Does anyone have a map of the delineated area?
Melissa – here’s a direct link:
Apache has finally shared what they’ve found in the Balmorhea area:
http://www.prnewswire.com/news-releases/apache-corporation-discover…
Thanks very much for the info
Folks – you had better be sitting down before you read this! Later – Buzz
APACHE CORPORATION DISCOVERS SIGNIFICANT NEW RESOURCE PLAY IN SOUTHERN DELAWARE BASIN
http://investor.apachecorp.com/releasedetail.cfm?ReleaseID=988060
Wolfcamp Shale… you scooped me… HA! Shortly I’ll post an Apache presentation link that goes along with the news release. Later – Buzz
Melissa – see the site in my last post below… select the Barclay presentation at the top of the list on the right. Later – Buzz
We’ll see. Apache had a huge press release about their Daniels County Montana 400k acre leasehold acquisition in 2012 and they drilled two dry holes and let the rest of the acreage expire.
"Hello, I am looking to lease and/or buy 10 acres off a major highway and/or county road for the purpose of possibly obtaining a SWD permit. Royalties will be paid to the landowner. Please contact Tim Terry. 512-791-2499 cell/text "
Elizabeth, I show that Rosetta was issued a drilling permit for the King Fisher 23 Unit A #1H on 4/29/2016, but I do not show that the well has been spud yet. The unit appears to cover the S/2 of Section 23. It is a good area to own minerals.
Any information concerning Cimarex activity Block 56, section 16 ?
When we renewed 3 yr lease in Feb, they indicated late '16 or 2017 before they were going to move equipment west to that area.
Also would greatly appreciate a map showing location of this property!
Thanks
Hello Alton,
If your minerals property is Section 16/Block 57 T3S I don’t see any activity in the area by Cimarex. BHP Billiton seems to be the major player in the area.
GIS Map of Reeves County Section 16/Block 56 T3S and surrounding area:
CLICK ON MAP TO ENLARGE
When asking for your minerals area ask for Reeves County Abstract 5314 and they are easy to find on the GIS(Geographic Information System) Map of GLO(General Land Office)Map.
Clint Liles
