I have an overriding interest in Section 15 Blk. 50, Township 8, Clayton Williams has drilled one half mile into this section from the Section south a mile and one half lateral have not heard anything from them. any Ideas Buzz
Look at University of Texas Lands Rate and Damage Schedule dated Sept 1 2016. Price per 6 inch rod initially and then renewal consideration every 10 years. Or one time payment of initial consideration plus 2 10-year renewals. Make sure easement is not perpetual but terminates when pipeline is abandoned. Payment is limited to one pipeline and additional payments are due for second or more pipelines in same easement. Do not warrant title.
Thanks Buzz for the information
JM Wilson ā thanks for posting the link to another good article on Apacheās Alpine High play. Although recent articles are 90% repeats, there seems to be that little extra in each that gives a more complete perspective. Later ā Buzz
Tracey ā āCOLSON S Dā doesnāt seem to connect with SECs 320-326-328-329-330 BLK 13 H&GN survey. I thought it might be the name of the party to whom the original patent was issued by the State of Texas.
As far as things predicted to get better, going by the price of oil, yes, much better than say a year ago BUT the price of oil has been oscillating between $40-50 for a while now. Maybe this weekās OPEC agreement to meet in Nov and agree to a production cut will get WTI solidly over $50/bbl ā voil prices have picked up 5% in recent days ā that level would certainly elicit more drilling, especially in certain Permian counties.
Sorry, Iām not familiar with happenings in Ward County. Later ā Buzz
An operator is trying lowball us on our 20 acres. If we donāt sign and they drill a well, what happens? Do we receive a pro-rated portion of the pooled unit production? do we pay a penalty?
@M. A. Smith. It all depends if you are the drillsite tract, or at a take point on a horizontal wellbore. There is no equitable pooling in Texas, by law. 99.9% of the pooling is done on a voluntary basis, such as an oil and gas lease. There are a lots of ādependsā on your question.
@John Sexton.
If you use the University Land Schedule, you will note that the easements are term and the prices quoted per rod are ānot less thanā¦ā
I generally use multiples. It depends on if they have condemnation rights as to your leverage ā and it depends on other factors as well.
Buddy Cotten
A oil company is wanting to put a saltwater disposal well on our property just wondering if anyone knows the going rate on a disposal well.
My family has inherited mineral rights in Reeves, Loving and Ward Counties. We have one parcel leased with two unleased.
On the now leased parcel, we were originally approached by a landman representing Resolute Energy. Resolute had plans to drill in the near term, and in fact now has an approved permit to begin drilling on our ground.
The other two parcels appear to be in less active areas. My question on these parcels is should we wait to be approached by an operator/contractor moving into these areas with plans to drill (as Resolute did earlier), or accept the best offer today from one of the many landmen calling us now, knowing that actual drilling might be years away?
In other words, get the best bonus/terms now or wait for possible better terms later?
Iād appreciate any thoughts you have.
Thanks,
Mike
Michael,
The oil market is boom or bustā¦with companies moving in and out of areas regularly, and bonus prices ever changing. The offer you get today could be less than or more than what you would get a month from now, but the market is too volatile to know. Unless their offer is unreasonable, Iād suggest you lease while you have a good offer for no more than a 3 year term (w/out option).
Does anyone know what is going on with the Siviers State well in sec 1 blk 2 om reeves county.
Article about Apache doing partnership to study affects on water in Reeves. This is to appease the fractivists who are using the San Solomon Springs in Balmorhea as a rallying point.
It amazes me that those who decry ājunk scienceā when it comes to global warming, as so eager to embrace junk science when it comes to water contamination and earthquakes. The earthquake issue in North Texas and Oklahoma may (emphasis on may) be related to salt water disposal, not to fracing. The instances of fracing causing ground water contamination are extremely rare, despite someone able to slap together a documentary claiming otherwise. So the issue here is water usage, not fracing causing contamination of the springs. I have swam at Balmorhea many times and would hate to see the spring flow affected. However, I have a high level of confidence in Apache, who seems to be bending over backward to address these concerns, being able to manage their water usage so it does not diminish the spring flow. The problem is the real agenda of many of the protestors is to try to stop hydrocarbon development period. I guess we can all go back to burning coal while we wait the 30+ years it would take to build out solar and wind infrastructure. There, I am off my soapbox.
http://www.houstonchronicle.com/business/energy/article/Apache-agreā¦
Interesting 20-minute interview: Apache Corporation Talks Details About Its āAlpine Highā Oilfield Discovery
http://marfapublicradio.org/programs/west-texas-talk/page/2/
Later ā Buzz
thanks for the response TennisDaze and Thomas Beauchamp.
TennisDaze: $20 per acre for damages, does that also include the payment for the seismic work also. Or the $20 is for both?
Thomas, company said they were doing the work on Reeves, Loving and Ward. Didnāt specify the block or section. Hope that helps.
Louise
$20 per acre for surface damages is standard at this time.
Appreciate any information on Silverback Admiral 4-47-48 (API 35261). Only thing found through RRC is spudded 6/28/16 and BHL survey completed 8/4/16.
Does anyone know the going rate for 3-D seismic and geophysical survey per acre? Have been contacted by a company for permission. Also, what about damages to the acreages? If anyone has information in this matter I sure would appreciate any and all help. I am cluelessā¦thanks in advanceā¦
That is for both. You can change the permit form. Add a specific time limit with an end date. Add that permit is limited to a single seismic shoot by the specified company and cannot be assigned to another company. Make sure that it says that seismic company is liable for any and all damages associated with all related operations, whether caused by the seismic company or its agents. Limit the agreement to only the list of specified land and not to include any other land. Add a signature line for seismic company.
Louise, I got an offer to do seismic work on our land too, so would like to find out the same thing. Our offer was for $20 per acre on Blk. C-20, Sec. 4 PSL. Is yours the same section?