Section 74 and Section 44 - both Blk 4: Also received offer to buy for $4800 per acre from PBA. This is under a lease with Anadarko and has been for the past 6 years. Is there any well activity around these two sections or on it?
We also received a letter from PBAF to purchase our mineral rights in
BLK C-18 Section 5, but offer was $4,500.
I as we’ll received the letter for block C7 section 26 PSL.
Well said, Lynn. No telling just what kind of recoverable reserves lie under our acreage in Reeves County. The numbers publicized by several of the oil companies are varied, but all significant. Ranges of 200 million to 400 million barrels of oil in place per section. Just a matter of what percentage will ultimately be recovered…and drilling and completion methods are improving out there each month.
Ours was from the PBAF sec 42 block 4 ab 4323. 6000 an acre.
Remember all. that the Permian Basin has been found to be a like a layer cake of stacked horizontal (oil bearing/hydrocarbon bearing strata) now called HORIZONS.
Basically, they do not know how much oil there is down there, other than it is a lot more than they had thought.
If circumstances of life dictate that you have to sell I hope you get a good price. However, if you can retain ownership of the mineral rights, you and your estate are going to be leasing those rights for a royalty cut for a long time to come.
And I hope I will be able to follow my own offered opinion.
But good luck to us all.
Lynn
Geez, Amy, we’re neighbors!
Very active area down near the Pecos County line. Try for higher on the bonus.
Just received a lease offer from J. David Williams of $1500 PNA, 1/4th royalty for 3 years on property in Section 44, Block 50, T-8, T&P Ry. Co. Survey. RED BULL SOUTH PROSPECT
When a new Lessor applies for a permit(s) for a drilling program different from the previous lessor, how are the previous permits canceled?
My latest purchase offer was $7,500 on Sec 20, Blk 5 HG&NRR.
Thanks Wade. Just sent off my counter. I will let you know.
Offer from AOG to purchase 40 surface acres of state classified land (20 mineral acres) in AB 4014, Blk 55, sec 37 for $32,000. In 2006. an offer was $2000, in 2010 it was $20,000, latest off boils down to $1600 a mineral acre, or &800 a surface acre.
Offer from AOG to purchase 40 acres of state classified land (20 mineral acres) for $32,000. In 2006 an offer for $2000, in 2010 offer was $20,000. Recent offer boils down to $800 per surface acre or &1,600 a mineral acre. A year back in Feb 2013 an offer from Cheyenne of $5,500 per mineral acre for Ab 5873,Blk 51, Sec 8,
Offer from AOG A-5536 19.16 nma $57,000.
Garland
Thanks. They must just die from lack of action.
Buzz:
I also recieved an offer from Alamito Minerals for $6000 an acre. My section is Tract 1, Sec 68, Blk 4, AB 1154, AB 3259 H&GN RR Co.
Steve – a drilling permit is for a certain term, e.g., 2 years in Texas from what I hear. Later – Buzz
AOG offer A 2291 for 40 nma $184,000.
Floyd,
There are 2 gas wells nearby in the general area of your A-4145. Both are owned by Chesapeake Operating, Inc. API 389-32518 is to the N/W of your A-4145 and API 389-32388 is to the south of your A-4145. And there are other wells in the surrounding vicinity.
GIS map of A-4145:
Clint Liles
Thank you Mr. Liles, may I contact you by email or private message on this site?