RigData - w/e 3-21-14 Active Rig Reeves Count Oxy USA 6 COG Operating 5 Atlantic Exploration 4 Rosetta Resources 4 Apache 3 BHP Billiton 3 Cimarex Energy 3 Anadarko 2 Energen 2 J. Cleo Thompson 2 Patriot Resources 2 Arabella Petroleum 1 Brigham Resources 1 Chevron 1 Clayton Williams 1 ConocoPhillips 1 Endeavor 1 EOG Resources 1 EXL Petroleum 1 Jetta Operating 1 Resolute Natural Resources 1 San Gabriel Resources 1 47 North of I-20 17 South of I-20 30
Again, Buzz, thanks so much!
Hello, got a question, where do I start in finding out about land and lease on property in Reeves County Tx. that my father has, where do I start ?, is there someone I can call to find out about it ? I am very new to all of this and I believe there are other family members about 41 of them that share this land, we donāt know any of them as of yet. Legal: blk:72 PSL, Sec:33,A-4145. any help would be great, or point me in the direction where I might be able to find out about it , thank youā¦
Floyd- I would start at the Texas Railroad website RRC http://www.rrc.state.tx.us/. Find the link to online search queries and put your info in. Since your land is in Reeves county, I would go back and look at the comments people have made and some of the links they have posted. There is a lot informative stuff on this website. As far as calling, good luck on that. Unless you know somebody out there or are paying someone look into your land, its going to be hard to get someone to help you on the phone, the courthouses are slammed everyday with landmen and people in person that want information.
Just got an offer to buy mineral rights from Permian Basin for $6000.00 per acre block 4 Section 64 A-33400
Mr. Wade Caldwell, I understand you are currently engaged with a few Reeves county land owners concerning oil/gas leasing. Can you provide us with a ballpark figure for lease bonus in our area please? We have 252 acres located in Blk. 13, Sect. 219, A-307 H&GN RR survey. Thank you for your time Sir.
Fred - we have 3 sections in blk 13 H&GN, 221, 109 and 64. There have been quite a few landmen ringing the phone and they are not balking at $1500/acre. I think I may get something close to 2k but it is further south than the majority of the action right now. weāll see. iāll be interested to see what Caldwell says.
Wade - Thank you for responding. Iāve been watching this forum seriously for about the past 3 years and found conversation for our general area to be minimal. I suspected bonuses were at least $1,000/acre but wasnāt confident until now. I look forward to hearing from Mr. Wade Caldwell and other land owners in our area.
I will check my chart and respond tomorrow.
iāve been reading back a ways and see where everyone is getting these letters from AOG and PBF and XYZ to buy their minerals. I have to say that if you sell your minerals at this stage of the game, you are going to be kicking yourself in the backside really hard.
there are several formations that operators are going to be completing in. we have one section of land that the operator has completed a well on the west half in the lower wolfcamp and is producing very well. they just spudded another well in the east half and will be completing in the upper wolfcamp. they believe this well will produce 4 times as much as the lower wolfcamp. they then informed me that they will drill 10 additional wells on this acreage and be stacking the laterals.
this is why all these mineral buyers are coming out in droves. they know itās going to be a huge deal. hold out as long as you can and lease to some good operators.
Wade is section 17 block c-1 PSL in or close to these area your talking about. Thanks
I have been involved in 15+ leases in Reeves since March 2011 and am currently working on 7 leases in Reeves. Bonus rates have varied from $1000/acre to $3000/acre. 25% royalty on almost every lease. Some up to $3500/acre across the river in Ward County. The trend has definitely been toward higher bonuses.
Block 13 is a huge block, and there is a lot of variety in the level of activity. As a general rule, the higher end of this range should be achievable in the northern part of the block, and falling off toward the south. However, it can vary and you need to do your research. I have not researched the Section 219 area. For example, a single good well can suddenly make the surrounding sections very desirable.
As a general rule, I would suggest starting at $3500/acre anywhere in Reeves, higher in selected areas. How stingy you are on your moves depends on factors too many and too complex to address in a blog posting.
I hope this answers your questions, keeping in mind I cannot be too specific for obvious reasons.
Iām involved in several areas of the county and have varied interests in 8 wells so far. I like this forum because of the questions and some of the expert/professional advise. I know there are several companies trying to buy mineral rights in Reeves County, I get the calls and letters also, but when it comes to selling your mineral interests Iāll quote what a wise man told me many years agoā¦I donāt sell mineral rights, I buyāem !!! This area is a stacked play, unlike many other hot areas, and given a positive economic outlook this area could produce for a very long time. Iāve watched several boom-to-bust plays in the past, but this one is a different animal with multiple formations and much improving technologies. This āboomā is really just getting started in Reeves County, now that we are getting the proper infrastructure in place. I talked with a local in Pecos back before Christmas and was asking about the effect the āboomā has had and she commented that the boom hadnāt hit yet and that Pecos isnāt going to know what hit them in the next 2-3 years !!
Mike
Mr. Caldwell - Thank you for responding. Watching this forum over the last few years has helped me tremendously. I will take your advice to heart next year if our lease expires without activity. Iām actually hoping it will expire so we can secure a better lease. I truly appreciate your help Sir.
Really appreciate the recent input regarding selling or not. Just wish that I was working with a different company other that BHP. Itās hard to tell what they are up too??? Itās a wait a see game now to see if they renew our lease as well as the permit as both will expire in June.
Hello, Iām looking for someone who can do a little research in Reeves county. My great grandfather left to my grandmother an interest in 16 acres in Reeves county. We canāt find where it was sold and wonder if they retained the mineral rights if it was sold. Apparently there was some production as it mentions royalties in the will for this property. More than likely it was sold, but weād like to know for certain. Please friend me if you have recommendations and want to keep them private. Iām active in the Oklahoma forums. This has been bugging me about the Reeves county MR for many months now.
Jennifer - Send me a friend request and I can tell you the name of landman I have used to do some research in Reeves County.
Ralph H,
we leased our c-1 sec 15 to Patriot Resources earlier this year for 1500/acre, 1/4 royalty, 3 years.
Carl- as a newbie myself, my advice is do all the due diligence you can but do not sell. Repaeat, do not sell. My family has had land in west Texas for a hundred years and nothing happened until a few years ago. My dad signed a lease then signed another one back in 2011. Now we have a producing well. These letters you are getting about selling your mineral rights are coming from flippers. They buy up mineral interests then sell them for a profit. We have gotten dozens over the last year. West Texas is one of the hottest areas in the country right now. Hold on to what you have and wait.
Carl
Locate your property on the new GIS map of the Texas GLO General Land Office. Then go over to the Texas RRC RailRoad Commission (the Texas agency which regulates the petroleum and mineral extractions) site and locate any wells near your property.
List out the current Oil companies with wells and start doing research on the internet looking for the quarterly and year reports and investor presentation of those companies.
The Reeves County portion of the Delaware Basin has been found to have layers, horizons, of petroleum deposits generally classified as tight shale.
The Exploration and Production oil companies of the petroleum industry have finally realized just a few years ago that they were not drilling deep enough to use newly developed improvements on fracking technology in the Delaware Basin.
Once they did so, and once they started to comprehend what they had encountered, their in house geologists literally falling off their work stools when estimating the oil in place, the rush started.
Start with Eagle Oil and Gas reports on the economics of the Delaware Basin, other reports on Delaware Basin/ Permian becoming a major world class oil field.
Do not sell your property. Get the well logs on the RRC site from wells drilled in the vicinity of yours. You will be stunned.
Donāt forget to thank your ancestors.
Good Luck
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