they have been drilling on proctor well since theabout the 4 of july It takes 21 days or to just drill the horizonal leg and how many hoz are the y going to drill I heard that the red headed satranger had four nand the empresa well in lubbock county had five and the time sprnt drilling was about the right number of days with down hole problems and changing bits cemrting casin they come in and out of hole many times when the rig comes down and it is gone I think they will be there another two or three weeks.
The Proctor94 well was drilling last week. It could be near finished. Drove by last week and the rig had its drill pipe pull up into the stands.
is there any update on production rates for the Red Headed Stranger well in Terry County ? Anyone heard anything from the field directly or indirectly on this well ? Concho has been guarded in its remarks and there is no record yet at the Texas RRC. Thank you for your help.
red head filed up date on permit on 17 sept
Thanks for the heads up.
Hi dubose. Is the information update on the permit on the Texas RRC website yet? Thanks.
Hi everyone. I just checked on the Texas RRC site for info on the Red Headed Stranger. They have no posted any completion data, nor have they posted any production as of yet. Maybe soon though. But so far, nothing officially posted.
Three years ago I contracted for $70 an acre, what is the fair price today?
It was three years ago when the contract was signed with a two year option to extend it with the 30 day notice. Well, the 30 days went by then just now a week before contract expiration we receive a check and notice of extension. Was wondering since they did not give notice 30 days prior could it be renegotiated at today’s price?
And and all suggestions welcomed, thanks guy’s.
sorry about that, it is located Section 51 Terry County which is about 14 miles West of Brownfield off hwy 380.
I don’t know about today’s contracts, matter of fact I’m asking around for current leasing info on $per acre.
But 3 years ago we signed for a 3 year, $70 per acre, 17% royalty.
2yr pick-up option within 30 days of expiration. But that was 3 years ago.
meant to type (attorney), sorry
Sounds like the lessee got sloppy. Depending on your mineral interest location, you probably are looking at significant difference in your existing lease rate and the current rate(s), enough, in my opinion, to get an experienced attorney involved to assist you.
looking for some leasing info to help my wife family on property they have mineral rights on in Terry County. the lease is for 5 years and a 2 year extension
Thomas, Depends on what the lease says. Do not cash the check and keep the envelope it came in, until you have an opportunity to talk to an attorney.
Thanks Wade, I appreciate that. We hadn’t had an attroney before, but certainly will consider it.
ok, thanks Robert. Good information to know, appreciate it.
Glenn: we (family) have several leases that we have entered into over the past 12-14 months, all in Terry Co. Maximum term of primary lease has been 3 years with lessee having option to renew for 2 years. A couple companies asked for 5 year initial lease period but we held fast to our 3 year requirement. Does your wife’s family own the surface estate also? If they do, there are additional important considerations in my opinion.
We have had a lawyer look at each lease agreement. Feel free to contant me at finley.gene@gmail.com.
Thomas, you better move quickly on that lease if you want to really lease the land. I think there are going to be some announcements about disappointing results in the past three months in northeastern and midcenter Terry County. Disappointing results as in DRY HOLES on two new wells that were drilled, one of which was a horizontal well. OUCH>>>>So before the leasing interest dries up quick,you best try to get something for nothing, because if you are anywhere but far west Terry county the border there with Hockley, odds are you got nothin underneath that surface except some soil and water.
Glenn…Seems like that is super low, but again, if they think they aren’t locating a jack pot, they don’t want to pay out alot. That is my guess. We got paid, $500.00 an acre, almost 1 1/2 yrs ago, I believe it was a 3 yrs lease, 25 % royalty, option to release at same rate only. Good Luck!
glen that cheep but only you can make the call I grew up a couple miles from there I am curious to the land man and leasing co and who they are tied to and to other there I have been in terry lynn and new mexico this past week and have not really had any bad info there is a little slow down but it is just today 4 quarter and election time jeters I will try next week to post al report when I get home.