Our current lease is with Anadarko. I am dealing with Shea Mead? Our property is Section 32 Block 1
The girl that called me is with Sullivan Resources, I believe out of Oklahoma City.
Randy and Larry, we renewed our mineral lease with Anadarko in Section 171, Block 34, H & TC RR Co. Survey, Ward County.
I have been contacted about releasing our mineral interests in Ward County. Does anyone have information as to the going rate for leases of 80 acres in Ward County. I have seen some of the figures in Reeves county of up to $2,500.00 per acre. Is that happening in Ward County. They started by offering $500.00 but I think that may be quite low. Any response would be greatly appreciated.
Mike,
Would you share who you are dealing with? Our family is in negotiations as well in Ward County. What area are you in? We are in Section 7.
Hope it helps! Thatās what this Forum is all about. Thanks!
Thanks Mikeā¦I see you are North of highway 20 ā¦we are just above the Pecos Riverā¦Block 33
Mike,
Thanks for your comments. This has been very useful
Roy,
Leases are recorded in Ward County at the county seat in Monahans, TX. See the county recorder for information and the recording books which you can view.
If there a lease with a oil or gas company and it is recorded the landman of the second company should have discovered this in his research. You can not enter into a new lease if there is a current lease with an oil and gas company on your 20 acres, unless it has expired. You need to review your current lease for details. It may have expired.
Mike
Are all completed leases recorded in Ward County? What do you do when you are offered a lease on 20 acres which has already been leased, donāt the lessees know this information already?
They should know, unless they are offering a top lease, which means they will lease if your existing lease expires. If your existing lease is held by production, you should check to see if maybe the deep rights have been freed up and can be leased.
do top leases look and read the same as original leases, and what does it mean to be held in production
Held by production means there is a producing well that is holding the lease for the lessee.
I have been told by KEW that their offer of $900/nma primary term, 22.5% royalty interest, 3 year lease, two year extension@$1,000, is reasonable for Blk.34, Sec.74, and that no one is getting $2,200 in that area. I have had people on this forum tell me otherwise but not mention any company names. Does anyone have anything to add to this? Am I wrong? Any info is greatly appreciated.
RoW update for Ward County.
In late December of 2012 we entered into an ROW agreement with Enterprice Crude Pipeline LLC. for the Trinity Phase 2, Talladega to Mivida gathering line. The intial offer was $50.00 per rod
with a final offer of $150.00 per rod, plus we asked for attorneys fees which kicked it to $250.00 per rod. The easement had to run in/with a current easement on the property for a one 16 inche pipeline.
I outline this ROW in the ROW Group for the MRF so find the group and you will see more detail. We used an attorney and the agreement took
6 months to complete.
cimarex energy is leasing and drilling on my mineral lease in H @Tc ry survey
To all mineral rights owners in Ward County. Our family came into ownership of a small portion of MR. We were not sure how to proceed when approached by a landman. We engaged the services of Wade Caldwell who is an attorney and posts here from time to time. Our family was very happy with his representation and we secured a lease we are pleased withā¦FYI.
Hello! I just joined this forumā¦ And Iām glad it exists, thank you to everyone for your helpful information. I have an offer by Anadarko to extend a lease in Ward county for 3 years, 1/4 royalty, 500/nma. I had heard on this forum and elsewhere that ward co was getting lease bonuses of up to 2000/nma, so this offer seemed low at first. 500/nma was the term of the original lease 3 years ago, of which this offer is an extension. Or so the landman from Sullivan says, at this point Iām not sure what the difference is between an extension and negotiating a new lease. I followed the advice of Wade Caldwell and used the tutorial on the home page to learn how to search the RR comission website. I discovered that this area (Section 25, Scrap File 7455, Ward Co) is in southern Wade county, bordering Pecos County, and doesnāt look to be the most active area. However: in January of 2011 I signed a lease with another company in Section 213, which directly borders Sec 25, for 1350/nma. My questions: Is it then reasonable for me to counter-offer 1350/nma, and of course 3 yrs, no extensions, 1/4 royalty. What is the difference between an extension and a new lease? Do extensions commonly offer smaller lease bonuses? Do I have anything to lose by submitting a counter offer so much higher than the original offer? Thanks very much!
Dorothy,
We had a company make us an offer to extend our lease that runs out in April for the $500.00 per acre and 25%, I think they were trying to get ahead of the current leasee at a cheap rate. From this forum I found out the area may draw anywhere from the $500.00 to $2,500.00 per acre lease with 25% royalties. I definitely would counter offer otherwise I feel you are leaving money on the table. I may find out differently in April when ours will renew. Last time it renewed I signed the lease and then a couple of weeks later I got a higher offer. I hope this will help you.
Larry
Dorothy,
$500 seems low, and you should also consider whther there is anything in your lease you want to get changed as part of the extension.