I am trying to find out information on this area for my in-law. She has been aproached to sell but is not in any hurry, just wanting to learn more about it since she is getting phone calls now. She has 1%ORRI and gets monthly checks (if that helps). Seems like a decent amount but I guess anything is a decent amount when you don’t know what your don’t know. TIA
Need to know location (Section, Township, Range) in order to have some idea what value exists & offers being made. Just be aware that most initial buy offers are lowball.
Hey Derrick, did you have a specific question/information you were looking for?
For 22S 32E, there has not been a ton of horizontal drilling there. Mostly old Delaware vertical wells. I would guess potential for horizontal drilling is good in the future.
Sort - you have already supplied that info. If selling is your objective, try to get multiple offers first.
You say you are not in any hurry. GREAT. Hold on for a year, perhaps a little more. A pipeline is being built from Midland/Odessa. It will be completed sometime summer of 2020. The big boys are basically waiting for this to be completed because it will lower transportation cost to the refinery.
Consider watching The NEXT Shale Revolution - 45 minutes - worth every second of your time.
My family has acres in the Permian. We leased some in 2017. That lease is up in 2020. THEN we lease it again to an actual driller.
I would NOT SELL. I would hold on as things go crazy in 2020. Then LEASE the minerals out. YOUR ROYALTY BONUS for signing a new lease will probably be more that most offers you will get for the next year or so.
I wish you the best. I would also consider a good OG attorney for legal O&G advice. It will save you big $$$ in the long run.
jimw san angelo, tx
Thanks for the reply. I’m just trying to learn more and more about all of this so I really didn’t have specific questions. Just trying to learn about the wells and NMA and how the future looks etc… I saw a link on here where you could see your areas on a map but I can’t seem to locate it now.
JRW- Thanks for the info. Ill def check out the video and have my in-law watch it too.
For a public map, google NMOCD GIS Map. EMNRD - OCD GIS
Click on map. Zoom in between Hobbs and Carlsbad to locate your area. Zoom in further to see what wells there are. The wells it shows will be anything that was assigned an API number (e.g. 3002535000). They may be vertical wells, they may be horizontal wells, they may be active or inactive, they may be permits that were never drilled. You can teach yourself to fish there, it will just take some patience.
If you would rather just be handed a fish, here is a map of that area showing vertical producers (blue), horizontal wells drilled the last 4 years (green), and horizontal wells permitted in the last year (yellow diamonds).
She said her interest was an overriding royalty interest so she cannot lease it.