Thanks for the scouting report Linda. I plan to drive through there next month and hope NFX spuds prior to my trip.
Maybe all this cold weather will increase the used of our good ole home grown natural gas. Since itās increased in price about $1.00 a thousand Iām looking forward to seeing a little increase on our checksā¦reckon?
A relativeās husband said he is working on a brand new āNOMADā rig that is drilling on a Continental well that is 11 miles south of Lindsay and 4 miles west. He didnāt know what section that is or the name of the well so didnāt find out much.
There is a rig still drilling just east of highway 76 about a mile on what I think is probably section 29 or 30 4n4w in Garvin Co. May be wrong on the description just a little. Itās been there for at least 3 or 4 weeks I believe.
My husband went down to the āMarkā well in 34 2n4w and they were moving several frac tanks in on the north side of the location. So guess they are getting ready for the on the ole boy! (I guess Mark is a manās name) lol Hope it produces like a SUPERMAN!
Many companies will buy smaller interests in the hopes of attaining a multi-section deal when it comes time to lease or they want to participate in the cost of a producing well. My advice is never sell mineral rights, they are always of value.
We are living in section 28 and that rig is about 2 sections east of us or maybe 3. I was thinking that would be about section 30 ???
OK thanks for clearing that up. I had forgotten which way that row of sections runs.
I hope everyone on this wonderful forum had a glorious Christmas and that you will all have a wonderful New Year! I do have a question. I received an offer from Citation to acquire my interest in Wild Horse Unit Tract 3, Section 11-1S-4W. I am curious about why they would be interested in purchasing my very small interest - does anyone have any ideas? Iām not selling, just curious whether they may be planning some activity there. As always, thanks to everyone for your help and information.
Lynden, itās about 2 miles east of our section 28. So would that be 26 or 30.
Prices of oil and natural gas both up again todayā¦yeaā¦let er rip tator chip!
Linda, sections 29 and 30 are to the west of hwy 76. The other left or right. I thought maybe it was more work on the Wentz trust well but after looking at the electronic well data it appears you may be seeing a Merit well that was spud on 12/10/2016 in section 26. It is a Springer well called NEPSU J-7A.
Yes Linda, that would be section 26 and it corresponds with your saying it had been drilling for 3 or 4 weeks because it was spud on the 10th I believe.
We have acreage with CR and NFX, so hope they are both successful in 2017.
Johnā¦Iāve heard both companies are planning a very active year. Iām with you on that wish.
Echo Energy is putting your lease of record without paying the lease bonus. It takes months of no return calls to finally get them to return your original lease and mineral lease. The last time I did business with them they were fair, but this time I spent two months on the phone with them when they would take my calls. My minerals are located in Stephens C. 3S-4W Sections 4 and 5. Just a bad experience. I will ALWAYS send signed lease with draft in the future.
To prevent this problem which has happened to many, never send a signed lease without a check in hand. If you live out of state, there are a couple of options. One, you can ask your bank or attorney to hold the signed lease until the bonus check arrives and is cashed with sufficient funds.(Yes, some of them have been known to bounce over the years). Another option that some use (if you do not have a bank or attorney willing to hold the lease) is to make a copy of the signed lease, using a back magic marker write DO NOT FILE in huge letters on each page of the lease and the Exhibit A and send a scanned copy of the DO NOT FILE lease copy to the leasing agent. You hold the signed lease until the check shows up and is cashed. Many landmen do not want to do the proper title work until after the lease is signed. This is because many of them are trying to flip the lease and use someone elseās money to pay you. Not all, just some. So keep that lease in your possession until the check shows up. Try to avoid drafts if you can since they can tie up your money for much longer than you want.
Mr. Gilbert, if your lease was recorded it doesnāt matter if they returned your original lease. You need a recorded release of your lease or your title is still clouded and it will likely prevent anyone from contacting you to lease. I hope you have the release if the lease were recorded.