Brian my settlement sheet says I was paid 2.45 mcf for gas
Are they paying you for products? If not, they are probably hiding the lease use gas and the expenses in the price. Do you have a gross production lease or is it a normal producers 88 lease?
2.457mcf gas. 33.225 plant products,94.002 oil
this was for nov. 2013 run
Brian I have not the slightest about the lease this lease was signed by my grandmother in 1957 Ollie Culwell is on part of NOCulwell which was a pooled unit held by production very limited Ollie no. 2 is a hor. in the strawn and the gas well on the no was in the Boonville. Ollie no 2 is not a pooled unit
If it is an old lease then it will not have good terms. What is probably happening to bring down the price is that they are showing gross volumes which would include lease use. Then they may be showing the price as the amount realized for the sale. So if they sold $1000 worth of gas, and the gross volumes are 425 MCF then it will show a $2.35 price. But if they reported the volumes after the lease use was taken out they would show $1000 at 275 MCF and the actual price paid would be $3.64.
I am interested in learning more about Targa operations off of Hwy 51 NE of Decatur. In particular their Longhorn facility.
Is there anyone out there that had dealings with conveyances that were signed before you received your mineral rights? I understand the royalty conveyance for one particular unit but when another is placed on the same area should that unit be included even though it wasn't even there at the time. The conveyance was signed in 1994 on for the J E Caldwell Gas Unit but in 2010 the J D Hooker A Gas Unit was formed and Devon Energy is continuing to pay the royalties of the new wells to the conveyed people. Does this sound right?
It depends on the wording of the conveyance. If it specifies the producing property or by name, then you would have claim. If it just specifies ownership in a section mineral or royalty out of luck. That is with minimal information. Try and upload the document and you will get an exact answer.
is there any activity going on in the northern part of wise county? I have some interest in the northwest region of wise, right on the boarder of montague.
i just revieved an lease offer from a company called Tomohawk land Resources in Ft. Worth Texas i have 195 mineral rights acres in J.M. wade survey,can someone help me or give me advise about it,it seems like a 500 dollar bonus per acre 1/8 royalty to good to be true?
1/8th royalty is not good, whatever you do, don't accept a 1/8th lease. 1/4 leases are the standard for just about everything in Texas. The $500 an acre bonus sounds reasonable for the area with a 1/4 lease but I definitely wouldn't take anything less. EnerVest has drilled about a dozen wells in the immediate vicinity, I suspect you'll get more offers with better terms, especially with that much acreage. You are in a very powerful position with that much acreage but remember, the goal is to get a well(s) drilled. If you need money in a bad way, you might think about selling a few acres of the minerals to tide you over until you can negotiate better terms. You should be able to get $2k an acre in a sale.
actually there are 3 options,the other option is 1/5 @ 350 bonus per acre,and 3/16th @400 per acre,the last offer i signed 5 years ago has expired ,and i got screwed on that deal badly
I have some minerals in the surveys just to the North of you in the JM Frans and S Bostick. A 5 year lease at those terms is not great, but keep in mind, this is a depressed area and has been for awhile and that's what they'll bring up. Everything in a lease is negotiable, everything! There is more to look out for than just the bonus and the royalty. With the size of your acreage, I would definitely spend a few hundred dollars having an attorney review the lease. We use an amazing Oil & Gas attorney in Ft. Worth and I bet you'd spend less than $500.
i just sent u a friend request,can u let me have thier contact info? im just a mechanic and dont know sqat about this type stuff :)
The following is a sponsored (paid) promotional notice:
If you own minerals in Texas or New Mexico, consider attending the NARO – Texas convention in San Antonio July 18-20, 2018. They have a great agenda, good speakers, and the cost is reasonable. This year also includes a special session for New Mexico mineral owners. The current agenda draft is attached, and a link to their signup and information page is http://www.naro-us.org/event-2824234
Attachment: 2018-04-30%20-%20NARO-TX%20Convention%20Agenda%20%28Hyatt%29%20invite.pdf