I have inherited a part of the mineral rights in the following
161.70 acres NE/4 of section 51 Block 1
313.68 acres of E/2 of section 51 Block 1
74 acres of SE/4 section 2 Block E I have an offer of 4k per acre for my 15.260556 NMA.
Does anyone know or can you tell me where to get more info on this, and find out if drilling has begun around there? Is 4K a reasonable offer or what would be a reasonable offer?
I just want to make sure that I make an informed decision.
You currently have permits across your property. Is it leased? Is that offer to buy?
It is currently leased and I have had over a dozen offers to buy. The latest offer for my share is $4000 per NMA.
I mean it’s a pretty good offer, but if the well comes in like the ones west of there, you’ll make twice that.
Is there a way to know if they are planning to drill or when?
Would I be wrong to counter the offer higher?
I just want to make sure I do not end up on the short end or at least get a good percentage of what I should.
Peregrine drills everything they permit. Ask for the world they can only tell you no.
Is there a way to find Peregrine’s drilling plans and find out when it is expected to drill?
Would you sell it for $4000 per NMA?
Isn’t the NE/4 of Sec 51 Blk 1 part of the E/2? Did you mean the NE/4 of a different Section?
Per the P-12 filed by Peregrine with its Drilling Permit (approved 3/7/2022) for the Chupp Unit Well B001H, the 313.68 acres in E/2 of Sec 51, Blk 1 is included in the 638.7 acres Chupp Unit.
If a very good Strawn well is drilled, your interest could be worth 3- 4 times the $4,000 offer you have received.
I wouldn’t sell.
You can call and ask, they probably won’t tell you anything. I wouldn’t sell.
In section 51 it is listed as E/2 of Section 51, Block 1, H.T.&B. RR. Co. Survey.
Is that included in that permit?
I am trying to learn about this and how to read the permit you linked to.
How much can a Strawn Well produce at full capacity?
I do understand that it can be as low as zero also.
Thank You, I think I will look into that.
You currently have a rig on the location to the south. They will most likely be drilling yours next.
I like that. How long does it take to drill and find out if they hit anything?
Then to get it to market?
It would behoove you to spend time on the TRRC site online. Where you can access a map. Hover over the map with the pointer and a box with well specifics will drop down from there I believe you can find the drilling permit.
I am your neighbor just to the north. My family owns the W half of section 57. We leased ours some time back and, like you, have had many offers. A permit was recently issued which runs a horizontal well down the length of our half section. We live in MO so don’t have any eyes on the ground. I am interested in what you are learning. Wishing you the best.
If a new well is flaring gas can it also be producing gas into the gas pipeline? If so would this be because of to much pressure or not enough capacity in the pipeline?
I’m pretty sure in this area, the infrastructure is not built out to put gas into the line just yet. A large gas company just bought an interstate pipeline in the area and will be facilitating the build out to new wells.
I am still trying to learn more. I have had offers over $6000 per NMA so far. Would love to be able to find the drilling status. If you know of anything please let me know. I you are interested I would be able to speak to you over the phone. I would love to learn as much as possible on this. Thanks
Peregrine has already drilled the Chupp well. They are drilling several wells in the same area. They will likely frac all of the wells at the same time in the near future. I assume they will all be on production within a few months.