@ Billy R. Simpson, the info that I have, they have already staked an area north of Business 20 on what we call Duval Road here in Reeves County. The company is suppose to arrive around March 25th.
I am seeking LNG professional buying and selling negotiator. please help to recommend. Thank you for help! pls email vxuusa@gmail.com
Great article on Shell coming back to the Permian Basin.
http://www.mywesttexas.com/business/oil/article_67eb8292-d548-556a-…
My family and I just received a lease offer of $1,000 per acre, on some acreage in Reeves Co., Sec. 20, Blk. 2 H&GN. The lease that we have doesn’t expire until Aug. 2013. This tells me something. They offered a 15% top lease - which I declined. My questions are: how much is being paid for other acreage in this area; they identified this as “Abstract 1512”- on the TRCC-GIS map 1512, shows to be a dry hole. I don’t understand this. Are they planning to go back in a dry hole to go deeper, or what? Will appreciate some knowledgeable help with this.
Hi Thomas. A lot of the “dry holes” are from some time ago at a different sub-elevation and with old technologies. I’m not familiar with your what the company was proposing, but you’ll do well to read up on the threads here and will find many answers to your questions answered in other contexts. Someone more knowledgeable than I with local presence will also likely chime in soon.
I have a similar question as Thomas. Our lease is up with BP/Petrohawk in either Aug (signed) or Oct (recorded). We are in Section 64, Block 4, H&GN northwest of Pecos. We know there is an approved permit for 2 horizontal wells (July 2012). We have been requesting an update on the status of our lease for over 2 months without a reply other than "they are researching our info. Question: Is this how oil companies work in taking action towards the end of a lease? If so, how does that benefit them? How does this impact Mineral right owners as they contemplate a new lease? Are we locked in with this company in terms of the 2 year option?
Marian – Petrohawk is currently drilling the WILLIAMS 4-53 #1H about a mile east of your H&GN BLK 4, SEC 64. The spud date for that well was 1/21/13, so it has been ‘drilling ahead’ some 50 days now. Looking at their open permits, it would not be surprising to see that rig’s next move over to your place.
Regarding Petrohawk’s shut-in wells in the area, they have a pipeline that is slated to go into service any day now… but that’s been their story for some time now. Later – Buzz
Thank you Marian, we also have some minerals in Blk 4, Sec. 59, just a mile NE of yours. This lease comes up in March 2014, but has a renewal opetion of $2,000 per acre. It has producing wells on both sides of us, so I am going to be very interested in what happens next year. Also - on the top lease offer the land mas stated in letter “properties listed are what our client is interested in for drilling.” I’m wondering if this is just a “come on.”
Great questions here. I have acreage 12 miles NE of Pecos expiring in October. Anadarko is the operator and as they aren’t drilling in Reeves county, I suspect that I will be looking to re lease. I would have thought that $1500 and. Quarter royalty would be be reasonable???
Sorry…I am about 10-14 miles due NW of Pecos…just north west of Petro Hawk.
As those of us that are in this area know (we are 7 miles NW of Pecos), the problem is pipelines to get the product out. Our well has been shut-in for close to six months and we have not heard from anyone regarding a ROW for a new line.
So several of the PetroHawk wells are shut in…should be an interesting year ahead. Hopefully the Anadarko leases will be attractive to others.
The Texas General Land Office is holding its quarterly Oil & Natural Gas Sealed Bid Sale on April 2, 2013:
http://www.glo.texas.gov/what-we-do/energy-and-minerals/oil_gas/sea…
The preliminary ‘Notice for Bids’ list is now available:
[http://www.glo.texas.gov/what-we-do/energy-and-minerals/oil_gas/sea...](http://www.glo.texas.gov/what-we-do/energy-and-minerals/oil_gas/sealed-bid-sales/past/index.html)
The ‘Notice for Bids’ file also contains the form O&G Lease successful bidders are required to sign.
The list contains all or a portion of the following lands in Reeves County, NW of Pecos:
-
PSL BLK 21, SEC 1;240 ACRES; SW/4: N/2 of SE/4
-
T&P BLK 56, TWP 2-S, SEC 38; 640.0 ACRES, ALL
-
“ “ “ “ “ SEC 40; 640.0 ACRES, ALL
-
T&P BLK 57, TWP 2-S, SEC 20; 137.5 ACRES (28 Tracts from 2.5-25 Acres)
The lands are located, approximately:
-
23.6 miles NW of Pecos; 14.1 miles SE of Orla
-
31.1 miles NW of Pecos; 4.5 miles SE of Orla
-
32.4 miles NW of Pecos: 2.9 miles SE of Orla
-
39.5 miles NW of Pecos; 3.95 miles W of Orla
Minimum bids are:
-
$1,000 / Acre
-
“
-
“
-
$1,500 / Acre
As you might expect, the GLO is familiar with the ‘going rate’ for lease bonuses in various areas. You might check back just before the sale as tracts may be added or subtracted. Results are usually available the afternoon of the sale. If the minimum bid is not met, that tract will not show up in the results.
Also, you can look back several years at the results of previous sales.
Later – Buzz
to Paul Eggers - you may be in luck, we have some minerals left from when my dad had a farm in Sec. 59, Blk 4, H&GN; I was out there checking on it last Thanksgiving and they were laying a pipe line along the south side of that section. Check on it.
I was wondering if any one know what kind off activty is going on around Section 44, Block 5, H&GN
Billy - H&GN BLK 5, SEC 44 (Abstract No. 5817) is 7 miles SW of Pecos. Yes, there is quite a bit of drilling activity in your area… however, not quite as much as there is NW, S and SE of the city. I assume you are under lease? Later – Buzz
Hi All, Just received a call with an offer of $85.00/rod for a pipeline running N/S across edge of my property at Blk C-18 Sec 4 W/2, SE/4, AB-4061. Has anyone heard of Southern Union Gas Co? Is $85./rod a fair price. I have seen other bloggers in Dec 2012 say they were getting $100./rod. Are these ROW contracts just a one time payment??
Thanks for any clarification. Respectfully, Fred
Fred – SUG is an old, very large subsidiary of Southern Union Company. … google it.
I guess it goes w/o saying that the proposed line would carry natural gas? What about pipe size and operating pressure? Later – Buzz
Just curious if there is any activity in the area of Sec. 40 Blk 59. We are a little over 1 1/2 years into a 3 year lease.
We received $100/rod from Southern Union a couple of months back. We are a couple of miles south of Orla.