Does anyone have any info on potential future activity associated with the Werner Spradley Unit? More particularly abstract 229 (EW GIBBS). I own an interest within that abstract and have had countless offers for it which has me wondering what they know that I don’t. As of this point, Chevron is operating a couple of wells in that abstract which are producing. I get a small royalty every month from those producing wells. When I compare recent production (past year) with the offer amounts I am seeing things just don’t seem to line up. I was curious if anyone else had any info on potential developments occurring within this area.
Countless offers usually means that “someone knows something”. Most buying in Texas is ahead of the drill bit. Someone local may be able to lend some insight.
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Do you think contacting a local landman would be beneficial? I don’t have a contact within that county so I would have to track one down. I haven’t really had an interest in selling my holding here however the offer amounts are starting to make me reconsider.
In my experience, the offers to buy are most always lower than the actual value of the acreage if one is willing to wait it out for the drilling. The more offers I receive, the more chance that someone has an idea when that drilling will commence. Have you checked the RRC for new permits nearby or on your acreage?
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I checked the RRC and haven’t been able to find any information on new permits in the area. I may have to just wait and see what happens.
Some companies do not pay any attention to the State Rules about filing deadlines! EOG for instance in Texas. The “deep state” does not enforce the rules and regulations in some cases. People making the offers should give you something in writing if they are serious. Most can’t come through with the money.
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