my Ward county gas back charges including severance has escalated to about 40% of total production. I realize that as production begins to decline it may be more costly for gathering etc. but this seems very high and unreasonable. I’m curious as to whether others have the same issues. I also have heard that there have been lawsuits over excessive charges. The company is Anadarko. What’s your experience?
Does anyone knows if there is any oil/gas activities going on in Ward County.
I owned 5.480 acres in Ward County in Section 11, Lot 12 and Block 33 Tract 1 H&TC
I heard a lot of activities going in the area, yet, no one contacted me regarding surface lease or anything of such. I am not sure whether I own mineral rights or not.
Can any one tell me how to find out whether I own mineral rights or not?
Louis Senatus
Louis,
Contact the Ward County Clerks office to see if you own minerals in the County.
http://www.co.ward.tx.us/default.aspx?Ward_County/County.Clerk
Clint Liles
Louis,
On this GIS map you will see the # 11162. That is a plugged gas well that was drilled in 1997 to 20, 328’. The green dots on the upper right side of the map are oil wells. If you have minerals in Section 11/Block 33 just be patient. The oil companies will find you.
Your section 11 is also Abstract # 150(A-150)
Clint Liles
Hello…I am looking to lease and/or buy 5-10 acres of land, preferably off a major highway or county road for the purpose of possibly obtaining a permit for a saltwater disposal well. Three (3) phase nearby would be a huge plus. Please text/call Tim Terry at 512-791-2499
Regarding 475-36736, I only know general info. My cousin owns that section, I own the adjacent sec 73. Contact cb@crossv.com
I received a letter that Jagged Peak bought out our Whiting leases. I have tried to call their phone number listed on the letter we received and get no answer or reply.
Does anyone know of a email address to be used?
Thx.
Does anyone know what the going rate for lease bonus is at present?
Evelyn- Very dependent on location and circumstances, but still seeing bonus rates around $3500/acre in good areas.
My lease is in Block 33 Sec 5 & 6 of the H&TC Rwy Survey and didn’t get near the $3500/acre. So I guess it is, as they would say in real estate, dependent on location, location, location.
And given the current world oil situation, I would think oil companies would be hard pressed and be not willing to pay that much now. Or am I wrong to assume this?
Thank you Wade. Location is Section 72 - does that help or do you need a better description.
Mrs. P. A. Black Survey, Block 1
Evelyn- Block and survey? John- Agree the price slide may see some softening, but I think most companies take the longer view, and mineral owners should too. Ward is rapidly changing from more speculative to proven. Oil prices are unlikely to average $55/barrel during the 20 year life of a well. Bonus consideration is only a small part of the cost of developing and drilling a well. Mineral owners are sitting on an asset that is fixed, i.e. they are not making anymore land, but they are sucking oil and gas out of the ground at a good clip. So it looks like a good long term situation for mineral owners. The main affect, in my view, is that operators don’t want to bring wells online during a low point in prices because production is so large during the first year for shale wells. So drilling and completions will be slowed to try to bring wells online after the market picks back up. This could have some short term affect on bonuses, for people who want or need to lease now, because there are fewer companies wanting to lease and drill quickly. In short, stick to your guns. Operators will use the price slide to pick off panicky lessors and get good deals. But if one looks at the long term, the economics of leasing have not changed so drastically as to justify a major decline in bonus prices.
Thanks for your input. I should have waited - didn’t get quite that much, but I’m satisfied.
Have heard that Shell is drilling a well on Section 72 and that my acres have been pooled. Anyone have any information or input on that?
Evelyn, is that in Block 34, H&TC RR Co survey?
Given the price of oil and gas nowadays, has anyone noticed a big slow down in oil company activities (seismic, drilling, leasing) in Ward County? I wonder what is the price of crude is where oil companies stop drilling. I’m just curious about the situation. I’ve heard $35/barrel. Any validity to that number?
Companies are already gearing down at the $50-$60 per BO pricing. Linn Energy just announced a 50% cut in 2015 drilling budget from $1.5 Billion to $700 Million range. Rig count is down in all US areas. Other operators also cutting drilling budgets for 2015.
Actual realized $/BO numbers that will cause operators to slow down depends on the operator, their source of capital and the quality of the play they are chasing.
The $35 number is basement price IMO. If it gets there, US operators in huge trouble.
The Block 34 well is section 228. I have found three Shell wells in Section 72 near the county line - all drilled from same pad and completed so far.
Evelyn - do you have more details than just section number for your lease location?
Thanks