I own a very small nonparticipating royalty interest in Coterra’s Watts 1H-0135X well in Section 1, Township 15 North, Range 13 West, which extends north into Section 36, Township 16 North, Range 13 West, a greatly diminishing gross royalty provider (Woodford I believe). An offer to buy arrived last fall from Buffalo Bayou Resources. Are they a respected group? There are several new wells in adjacent sections to the North, West, and South. And a Mississippian well in Section 25, Township 15 North, Range 13 West. Does this indicate additional drilling within my Section 1, Township 15 North, Range 13 West is likely or feasible? Thanks for your input!
Offers to buy frequently come when buyers think the know about pending activity. Your section has one well and room for several more. A rig is currently onsite in sections 29/32. Infill wells are about three to four per section so far in the area. Wells naturally decline over time. Watts 1H-0136X is listed as a Mississippian well.
This topic was automatically closed after 90 days. New replies are no longer allowed.