My brother and I own 14000 acres in western terrell county. The wolfcamp play is just now catching hold and we have been entertaining the idea of leasing. I wonder how much a good lease in this play is going for? At this point it would be a wildcat if they drilled but we lie directly in the fault zone that heads south from midland odessa area. Any advice would be appreciated. Thanks
Dear Jack,
With that much acreage in that general area, I strongly suggest that you contact Harold Hensley with the Hinkle, Hensley law firm in Midland. Harold knows the oil business inside and out and has contact with the headquarters or most of the major and medium players in West Texas. Hinkle also has an office in Roswell, NM with experienced oil and gas attorneys. An hour of his time will be invaluable in putting together an initial plan for your minerals and help guide you in making fair deals.
If you wait until someone offers a lease, he may not be able to help you due to potential conflict problems.
Gary L. Hutchinson
Minerals Managemt
That idea helps a lot! Thanks kindly!