Another fella Dale used to work at Pegasus called today wanting to purchase (can’t remember last name supposed to email next week) so nothing still not happening in Lea County. 19 Township Range 32 Section 22 23 26 27 just throwing this out since I saw your post!
We are thinking of participating in the venture I posted above with SPUR. The initial cost for our interest is a bit over 30K. We are thinking seriously about becoming WI owners. We know there will be additional expenses and liability risks so we are also setting up an LLC for this venture along with another small WI we have inherited with Fasken Oil and Ranch out of Midland.
The old joke is “I would rather have a DWI than a WI” but participating is the way to get the most cash back in a successful drilling case. It just takes $ upfront and exposure and is more complicated.
If your share is only $30k it’s hard to go too wrong.
NMOilboy, You sent a reply about your map source but for some reason it came to us as an email. There did not appear to be a link that said “view post” so when I tried to respond it was rejected. This has happened a couple of times and I don’t know how to correct it but it’s not really a big deal. Just wanted to thank you for providing the maps to explain the location of those wells in Eddy County. It helps a lot.
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