Is anyone familiar with what the current activity is like in the vicinity of Section 78, Block O.W. in Pecos County? Has anyone leased minerals in that area recently? I'm curious as to what lease terms are being offered (bonus, royalty, lease term, etc.) Or maybe I should say, what should a mineral owner be asking for with regard to a lease ? And who is leasing in that area ...... and what is their reputation? Any information or advice would be appreciated. Thanks!
Over past couple of years, no new permits in the southern part of OW but Brigham has been drilling hz wells to the North and NW with some good results.
No idea on leasing terms in this area.
You can go to Tx RRC site see permit and completion activity in this area
Parsley Energy LP out of Austin, TX is leasing in Section 65 and Fortuna Development LLC out of Houston, TX in Section 63. No one has been leasing in Sections 70 on up. Those two are the only two companies leasing in your area. Parsley has been assigning some of their leases to Vanguard Operating LLC out of Houston.
However Brigham Resources Operating LLC is leasing in Block OW but not near your section.
Almost all leases in Block OW show to be at a quarter royalty but I can't tell what their bonus is. I know that I've leased up in the smaller sections from $750/ac to $1500/ac back a year ago. Most common for Pecos right now is $1500/ac based on reports.
Thanks for your reply, Cindy. Just curious ...... do you know what sections Brigham is leasing in Block OW?
Do you know what might be happening in other blocks in Pecos County that border Block OW, such as Block 48 (to the west), Block 3 (to the south), and Blocks 106, 114, 115, 142, 143 (to the east, which has a lot of small blocks)? Who might be leasing in those blocks and what bonuses and royalties might be in those neighboring areas?
Thanks again for taking the time to reply.
Brigham has been leasing further north at the top of Block OW. Parsley and Fortuna are the only ones currently near you leasing from what I can tell. As to the other sides of OW I don't have a map to look at to see the Ranges in the blocks you specified; however, I was able to look at a report for current leasing in Pecos and almost all leases noted were at 1/5th to 1/4th royalty.
Hi, saw your old post . Just wondering if you are leased or have you had offers. We have 79 of ow