section 4 township 23 S R28E… what’s going on here? Worth 8k per acre? Tell me what you think. Thank you!
Here’s a map of the legal description you provided. There’s heavy activity to the south of you. However, around where your legal description is, there’s a drop off in activity. There are wells in the area, but they don’t perform as well as the wells to the south. Not too sure about the worth since it looks riskier. Happy to provide more information.
What’s your lease royalty? Are you included in the newly permitted wells?
Where do you see newly permitted wells? I have 3/16th royalty grandfathered.
April 2018 in the S/2.
Did you get a better sense of value?
There should be more activity there in the future.
There were some permitted wells in section 4 T23s R28. They are with Marathon. APOLLO FEE 23 28 4 WD No. 002H APOLLO FEE 23 28 4 WA #005H These are east-west 1 mile Hz in the South half and are 320 acre pooling.
Also, there is a Pooling Order by the OCD for Novo Oil and Gas in the E/2 of section 4 and E/2 of section 9 on a north/south 2 mile HZ. In the Wolfcamp.
There may be a conflict there between the two companies but they are obviously interested in the area.
Chevron has drilling permits and pooling orders on some 2 mile HZ wells that are South to North in the East Half Sections 10 and 3 in T 23S R 28E.
All I can say is that the area north of State Road 31 between Carter Road and Donaldson will be heating up this year into next year.
I got an offer from Novo to sell 25k for roughly 1.6 acres. The price keeps going up and up. Something big must be coming?