Richard, I have no information about your section. But we are two sections to the west of you - Section 185 - and we just got a pooling agreement for a horizontal well spanning Sections 185 and 184. So there is still interest in the area. And actually, your section would seem to be better placed than ours, closer to the hotter areas. So unless there is some particular (geologic?) reason for not drilling you, I don’t know why they wouldn’t.
I have 926 mineral acres in Reeves Co. there is one producing well . What would be a fair value per net mineral acre?? I am interested in selling.
If i am violating any rules, let me know please. If anyone decides to sell anything, there is nothing to lose by sending me your offer and giving me the chance to beat it. My client funds immediately upon verification of title. I appreciate it, thanks.
Lisa -
Your lands are in a very good area. You should be able to get quite a bit for your interests.
I noticed that you are but one of a number of Mineral Owners in the subject lands and that the Mineral Tax Roll for the Thorny Rose 18 No. 1 has you as owning a decimal interest of 0.0375. With the Thorny Rose Unit being 600 acres, that equates you as owning an undivided 1/6th of the Mineral Interests.
Is that correct? Is that correct through the entire 926 acres? That you own 1/6th of the Mineral Interests?
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
I was unaware of the formula for net mineral. I have 926 mineral, but I am told It is ionly have 100 net mineral. I am being offered $5,000 for all my net mineral. Should I be expecting more??
Lisa, The value of your minerals will be determined by the area of which you own. Do you have the legal description that you can provide to this forum?
My mineral is in Block 5, section 18,20
Just curious.
And just to note, I have seen acreage in your area going for up to $18K per acre. I know of one guy who got $32.5K for a single acre over in Loving County.
Lisa - Yes. Much more.
There appears to be a number of people that own undivided mineral interests in the subject lands.
Someone will have to study the County Records to accurately determine what you own. To estimate it, I used Buddy Cotten’s Division Order Spreadsheet (attached) and tweaked the numbers backwards until they came up with 0.0375 decimal interest. That would be your mineral interest adjusted by the 22.5%, which would give you an undivided 1/6th Mineral Interest in at least the 600 acres making up the Thorney rose 18 No. 1’s Unit or dedicated acreage. If you own the 1/6th MI throughout the entire 926 Gross Acres, that equates to 154.33 Net Mineral Acres (NMA).
And, YES, you should be expecting more. Substantially more. If you want to talk more about that, accept my invitation to become A Friend on The Forum and we can discuss that more privately.
A half dozen Wells or so were recently completed all around your lands, producing from 350 to 900 Barrels of Oil Per Day (BOPD). Others are currently being drilled.
And there are two Horizontal Wells that have been Permitted to be drilled on or including your acreage (also attached). You may want to wait and see what happens with them before you do anything.
Oh, and because we have discussed this on The Forum’s main dialog page, you will more than likely be getting unsolicited offers. That is not what The Forum is supposed to be for, but it occasionally happens.
I advise you to take your time about accepting until you know a whole lot more than you appear to know now. And be prepared to have an experienced Oil and Gas Attorney review any offers you want to consider before signing or even verbally agreeing to anything.
If you don’t know any experienced Oil and Gas Attorneys, I can introduce you to a few - as can many people here on The Forum. Wade Caldwell, for example, is an excellent Attorney and frequent contributor to The Forum.
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ROSETTA%20-%20CATTLE%20KATE%2020-18%20UNIT%20-E-%20NO%201H%20-%20PE…
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Hope this helps -
Are you related to the Widmanns or the Bakers?
Cousins, I believe Widmann’s have sold their mineral several years ago. Baker is my cousin too.
Lisa, send me a message.
We received an offer of $20 per acre for a large regional 3D seismic survey. Someone on the forum mentioned a range of $20-40 as the going rates. What are the current rates in Reeves Co?
I am new to this group just recently contacted by a land man about some interests we own in section 14 Don’t know the going rate in the area. Any activity in the area?
Hello Mike,
Welcome to Mineral Rights Forum. There are over 50 Section 14 in Reeves County. We will need the Block and/or Abstract # before someone can answer your question.(complete Legal description) Location in the County can make a big difference.
Thanks,
Clint Liles
Block c18
They can suspend royalty payments indefinitely until your titles are clear. If you know how to get in touch with the parties that have not yet signed, you might want to touch bases with them to see what the hold up is.
A lease in Reeves County was signed with Anadarko in the name of my parents’ trust. They have since passed on, and the assets have all been distributed to the heirs, with the exception of the land interest in Reeves County. I spoke with Anadarko, and they said they needed a “Deed of Distribution” filed and sent to them. Does anyone have experience with transferring leasing agreements to heirs?
Thanks! Andrew in Palm Springs
See if the Distribution Deed from when the Trust was dissolved includes a Rest and Residue clause. If not, you can contact the Attorney that prepared that paperwork and ask them to correct of amend that document. There’s no point in calling in a new Attorney when the one you used before will be familiar with the situation.