Trammell Tract: Sec 2 M E Trammell Survey, Upton Co, contains 1,386.6. acres.
I own 1/2 of 1/16 mineral interest (or 41.206 acres). Pembrook Units #78 and79. Leased to Pioneer. Recent “unsolicited, come in the mail” offers have jumped way up to the $200,000 range. I assume based on future prospects fo horizontal drilling.
Because I am 73 I am considering selling. (1) who are the “real” buyers? (2) who is a landman, attorney or agent in the Midland area knowledgable in these matters? (3). Is there any drilling activity in my area?
Thanks for you help. Bill
I suggest you contact Lee Caple (lee@caplertoyalty.com). He will provide with assistence and advice, especially if you are considering selling your royalty rights.
I have offers of almost $300,000 for our rights also. Lee did some research re activity in Upton County, Pembrook Unit. He said Pioneer has permits now for drilling in that area.
Rex Ling (rexling5@yahoo.com
I am also leased with Pioneer, although a different survey in Midland County, and have also been surprised at the latest offers. I too wonder what’s up?
There's some horizontal permits in that area, but I doubt sincerely Pioneer is going to drill them anytime soon. They're really sticking to drilling their obligation wells to hold their leases, and the Pembrook Unit will be 100% held for eternity. So there's no rush. I was working for them until January when they slashed their rig count to the bare minimum and laid off all their contract landmen. The offer you received sounds about right to me, I make offers right in that range. Would you mind telling me the company that is offering to buy your minerals?
Jordan: inspire AOG (Anthem), PalmeresEnergy, and Pleasent Grove Holdings
Anthem and Pleasant Grove Holdings.
Here are the advices I received:
"I can assure you they are worth considerable more than you are being offered."
"I would highly recommend that you DON"T take an unsolicited offer made through the mail.
There are many factors that go into the value of minerals."
"Pioneer will start drilling three wells on 480 acres crossing Section 20 (Upton County) by
November, 2015. Division Order and payment expected in 2nd quarter, 2016."
Rex
Wonder if someone can tell me this.
If a company is planning a new horizontal drill in Upton County, what is the minimum yield
(barrels of oil per day) does it expect?
I do not believe anyone will start a new drill for, say, 10 or 30 barrels per day. Not worth the
effort. So, what is the minimum yield that will make it worthwhile.
Does anyone have any ideas?