Please see the attached. You are in a good area, with some very productive wells near your lands. Additional wells in the area are either present being drilled or have been permitted.
I didn’t look at all of them, but the Units in your area appear to be either 320 acres or 640 acres, with the exception of one 480 acre Unit immediately to your West.
Your Section / lands, however, do not appear to have yet been pooled.
As to whether $13K an acre is worth accepting, that is for you to decide. If you want to use Buddy Cotten’s Division Order Spreadsheet and play with some of the numbers in the attached table to see what sort of possible projected income you can come up with, that might help you decide.
Section 8, block 55 t 4. Have had two companies wanting to do seismic on the land. Have already signed with both, does that mean someone is interested in this piece of land??? Does anyone know of drilling going on there? Also, does anyone know of the going rate of lease monies for that area? Just curious. Haven’t been on here in quite awhile so am in the dark. Also, had a company interested in laying one or maybe two pipelines under ground. Does that indicate anything of importance? Thanks for any information you may have.
We are near you (Section 20). The operator, Resolute, has been very active. They are also drilling in Section 28 adjacent to you. You can look at the investor presentations on their website and see how the nearby wells are doing.
hello, thank everyone who is watching the local drilling news and posting maps and links. i appreciate that some of the same maps and links get re-posted and know that must take patience to keep posting the same links but, believe me, i am one of those who is always grateful for re-posting of links. i found that map interesting of top producing reeves wells and i enjoy reading the news postings. we have surface and minerals in this area: Sect 11, Blk 3, H&GN RR, Reeves. as one who does not use the maps and menus so well, is this area near activity? also, as an opinion, i read this article yesterday: http://oilprice.com/Energy/Oil-Prices/Oil-Market-Rebalancing-Hasnt-… and wonder if maybe it is not time to sell minerals? i see news where volvo will only make electric cars in 2019 (if i understand the news correctly) and that ecuador has announced they are not holding with opec any more? is it possible this is the edge of a long decline in value of our lands and perhaps we are seeing a peak in prices being offered for purchase? as someone on the edge of retirement i would kinda hate to be stuck with a pig in a poke. we have close to 24 acres so it could be some good money to make a move now especially if prices go lower than can be drilled in the area - i wonder what the price per bbl break even price is nowadays?? regards to all and thanks for the postings and replies.
Another variant would be if the 5 acres are not defined as a single geographic unit but rather the rights to 5 acres out of the 640. We have one parcel for which we have 20 acres out of the 640, so it is prorated over the entire section. Imagine 4 horizontal wells. Each is a 160-acre unit. We get a 0.00078125 (20/640/4) share of the 25% royalty on each well (or 0.0001953125 of the total production of each well).
Vector was bought by Schlumberger, so you are dealing with a large, reputable company. We were approached a couple of weeks ago regarding our acreage in Block 59 PSL. They are doing a very large 3D survey to the SW of and tying into their existing surveys of Reeves County. The website below shows the boundaries of the older surveys.
They were offering $20/acre, which, after some research, I accepted. It is important to note that it was non-exclusive so I am not precluded from signing another deal with another seismic company (not holding my breath).
We like to sell surface rights of our land sec 1 blk 112 ab 1571 in culbersion county about 467 acres Please text me about interest 9163033640 thanks Ron
that is the amount that I got too. Another company about 5 months ago did the same offer and I accepted that one too. So, it was nice to have two of them surveying the land. I was just hopeful that it will be fruitful to me, as I have had this land for a long time…thank you for the information about Vector. Have a great day…
Hello all, I have negotiated two Easement agreements in Reeves county this past year. Now a third company has made a proposal in the same busy corridor (Sec 17, Blk C-19). The first two Agreements were for “non-exclusive” easement. This third proposal requests an “exclusive” easement. Now I am realizing I do not know what that terminology refers to or how important the difference may be–exclusive vs. non-exclusive. The proposal does have a clause allowing the company to assign to another company. I am a small interest owner of the land in question. My thanks to one of you professionals who can answer this question for all of us! [I have also posted this in the Right of Way Owners Group]
Any sense of the going rate for sales in Tract 15 Block 7 of the H&GN Ry grant? We have net 80 acres held by production and are getting lots of unsolicited offers…