Hello, I have NRA 13.7710 in H&GN Sect 11, Blk 3, A-51, Reeves. Four Two Georges (Bone Spring) long lateral wells are recently approved/permitted API 389-41964, 389-42061, 389-42062 and 389-42063; the kind coming off one drill pad, and they are all filed, survey platted, etc. They track the four Phantom (Wolfcamp) wells already there but a higher benchmark - these four have been making me a check now for eight years; as an aside I have been surprised by now they would have been reworked but nothing has been done with them. I figured the way these ‘same drill pad’ projects are done, it would be next year at earliest to see them go onstream if things start tomorrow so that would put them at maybe $70/bbl (as how the way things seem to be projected to go by those smarter than myself) and making it this time next year to see a check all things considered including the way these operators hold back payment. I’ve received several offers, in the mail and on the phone (like how do they find my phone number), at $285k for my minerals. If I sell I pay taxes or look for a 1031 - which I would want to give me some income as I like the little check I get now - or if i don’t sell I pay taxes (my personal opinion the biggest robber baron of all is Reeves County) assuming the wells make, so what with federal taxes I lose a lot that way (per my back of envelope calculations) by not selling. I figure there must be good odds of them making good ‘cause the operator, TRP, is digging 12 wells total off two pads all having been approved/permitted at the same time here most recently, and all for the same Two Georges (Bone Spring) strata and they wouldn’t make all those arrangements with failure in mind is how I think about it. Setting aside the truth I probably need a good accountant, bird in the hand vs. two in the bush . . . any thoughts anyone? Thx and regards.
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