Kathryn,
The GIS Map shows Block 13/ Sec. 266 having possibly 3 Abstract #'s–A-1603/A-5534/A-1867
A-1603 H&GN RR CO Block 13 Sec 266 DE RACY J
A-5534 H&GN RR CO Block 13 Sec 266 WEINACHT, L A
A-1867 H&GN RR CO Block 13 Sec 266 WARD, G L
Clint Liles
Kathryn,
Section 265/Block 13=A-321
Just west of your Block 265 a well was drilled by Clayton Williams in July 2013. No Completion Report available on RR Commission website. Am posting the approved drilling permit for API # 389-33835/Well Name CWEI-CHK 265-13:
http://webapps2.rrc.state.tx.us/EWA/drillingPermitDetailAction.do?m…
Clint Liles
Will,
Check your Inbox on the right side of MR Forum main page. 2 messages.
Clint Liles
Thank you Clint!
Will, There is a video on the Home page of this site that shows you how to navigate the RRC website and get this info, except for lease rates. Generally, 25%. Bonus depends on the area. An Option is not a lease. Ask if they are paying cash upon signing the lease, otherwise, they are just trying to tie up your land and shop the lease so they can flip it, most likely.
a transposition of numbers. Well Name CWEI-CHK 256-13,
There is usually some logic to each companies well names, 256 for Section 256 which is to the west of Section 265.
Confused Yet? me too, lots of days.
Lynn Wood
Don’t worry.
As did I. I just wonder what the real market price really is, not that I have any interest in selling.
I just received a $6,000 per acre offer for minerals leased to CWI in Sec. 26, Blk C-7, PSL.
I should have clarified: to purchase for $6,000
Ann, we got an offer of $6000 to buy last week too.
BerryTC - Section 40, Block 59
We have 1200 acres immediately north of you. Last year we accepted an offer of $3500 per nma. The royalty was 25% on a 3-yr (primary) plus 2-yr (extension) lease. I’m not sure what the target is and how far south the play might extend.
As a result of the lease, we discovered the Pease Limitation – a nasty hidden addition to the tax code that eliminates the ability to fully take itemized deductions.
The ‘CHK’ indicates the well is part of a drill to earn farm-out agreement Clayton Williams entered into with Chesapeake Energy in 2011. In a 2-24-14 presentation, they state we have ‘5,000 additional acreage to earn under the farm out’, so they intend to continue drilling ‘CHK’ wells. Supposedly they will have a 3 rig drilling program in Reeves for 2014 but only a single active rig today. Later – Buzz
It’s from Permian Basin Acquisition Fund.
I wonder also, Stephen.
We also received offer to buy our minerals, which we will not entertain.
Sect. 219 BLK. 13 Reeves
Mayflower Exploration…$6,250.00 nma (Feb. 2014)
Same offer from Permian on Sec. 82, Blk 4 H&GN Survey A-5662.
If anyone decides to follow up on that offer and learns what these guys are really prepared to pay I expect a lot of us would be interested in knowing.
Since this type offer usually say “as much as” and is contingent on further review of your particular interest, I’ve always assumed any initial amount mentioned was “bait and switch” material and the real amount they would end up agreeing to pay could be much less…with anyone anyone who had signed their initial offer letter then being pressured to accept.
It’s been pointed out many times but anyone following through on one of these offers needs to understand the interest these folks are proposing to buy isn’t just one tract or survey but any minerals you might own in the whole county, and that signing anything that might give any sort of control over your mineral interest before you understand all of the details never makes sense.
I also received the same letter from Permian Basin Acquisition Fund for Block 4. The amount ($6000) was the same. I imagine they sent the same letter to every mineral owner in the county.
Folks – those of you receiving mail offers for your royalty interest, please locate your proberty too. TIA – Later – Buzz
I know, as well as my sister, aunt and cousin.
We also received a letter. The amount unlike yours was for 4,800. K