Just joined this forum. Have a lease request in front of me for W/2 of Section 10, Blk. A-26, PSL Sy. from Evergreen Natural Resources, LLC. Anybody have any experience with these folks? Lease terms offered are $300/ac bonus, 1/5 royalty, 3 year term. Doesn't sound like very good terms to me. Anybody know who the Operator might be?
Danny, That is about the going rate. You might get as much a 500. Main thing to work for is 1/4 Royalty, calculated at the wellhead, with NO post production costs. also be careful about Continuing Operations paragraph.
Jack Tyler
Danny,
I see where 2 wells have been drill this year to the south of you in Andrews County///1 vertical and 1 horizontal well. No completion reports available on either of those 2 wells. Targeting the San Andres Formation. Several older vertical oil wells in the surrounding area that were drilled back in the 1980's and 1990's(some producing and some plugged. Well # 35292 drilled in 1980 and recompleted by XTO in 2012.
GIS Map of Gaines County Block A26/Section 10 and surrounding area:
Clint Liles