Victoria County, TX oil & gas discussion group. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
I have received an offer to sell my rights in an oil well in Victoria County, but I have no idea how to value the rights. Can anyone offer any suggestions?
Depends on many factors, the biggest being whether your lease holds other depths, where they can drill into other formations.
I have been contacted by RD Partners of The Woodlands about a lease in Victoria County. Was wondering if anyone else has been contacted and what their offer was. I received $100/acre and 1/6 production offer this week.
Group, I need a little help. I see where my great grandfather owned a 1/24th royalty on 266.5 acres out of the W. J. Eaton Survey, Abstract 164 AND a 1/48th royalty on 420.5 acres out of the same. As such, the total land in which he has a royalty is 687 acres.
Looking at the RRC Map, it appears that there has been and continue to be activity/production for which we were not approached and did not sign a lease.
Just a quick review shows:
A) ABACO Operating LLC on Lease named Chaloupka, Lease Number 267874 having produced 247,000 MCF of gas and 3,994 bbls of liquids,
B) Pitchfork Oil and Gas thru 2006, Lakehill Production (2008), Trius Operating (6/08) and United Operating LLC on Lease named Carmen, Lease Number 221613.
Then there are a number of other wells.
What should my next steps be?
Is anyone aware of an operator called Costilla Energy?
I have reason to believe that they are holding funds and have been for quite some time and I found an address off the internet as 400 W Illinois in Midland but the letter was returned as "unable to forward."
As of June 15, 2000, Costilla Energy, Inc. was acquired by Louis Dreyfus Natural Gas Corp. Costilla Energy, Inc. was engaged in the exploration, exploitation, development, and acquisition of oil and gas properties, as of March 31, 2000. The company's primary operations were in the south/east Texas region, the Rocky Mountains, and the Permian Basin regions of the United States.
400 West Illinois
Midland, TX 79701
Thank you "Mineral County"
Looking at a deed and trying to specifically identify this 215 acres on the RRC map:
Two Hundred and Fifteen (215) acres...in the R. Manchola Survey, and being same Two Hundred and Fifteen (215 Acres described as Tract Three (3) in lease from Etta Terrell, a widow, to J. Nye Ryman dated 29th day of August, 1928, recorded in Vol. 124, Page 105 of the Deed Records of Victoria County, Texas.
Said Third Tract described; BEGINNING at a post for a corner on the E. bank of Colleto Creek, the same being the upper corner of Lot 26; THENCE N. 45 E. 2460 vrs. to corner of line of public road, THENCE S. 45 E. with line of public road, 507 vrs. to post for corner; THENCE S 45 W. 2208 vrs. to post for corner on the bank of Colleto Creek; THENCE up said creek with its meanders to the place of beginning, containing 215 acres of land.
I think it is as marked on the attached pdf because I can add the acreage for the 3 wells and get to 215 acres. Is this correct?
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