Inherited this tract of 40 acres. Quarter: SE S: 15 T:198 R: 26E NWSE MAP#143-15.3
My grandfather consistently turned down any/all leases throughout the years. We, as a family, are asking to see if there is any value in this acreage?
Please and Thank You,
Scott
Do you mean Section 15 of Township 19S, Range 26E? If so the answer is yes. Spur Energy is drinng and producing in the sections north and west of there.
Like Oliver, I’m assuming you meant Section 15 (SE) of T19S R26E. You are on the Southern border of the Yeso trend of production. See map below. Shallower wells. Not as good as the BoneSpring/Wolfcamp play, but cheap and good economics in places. There are Spur wells (old Concho wells) just to the North and West of you. Spur is drilling about 5 miles or so to your West currently, which is where their best acreage appears to be. Spur has a LOT of acreage to drill in this play, and is currently running one rig. And you are on the edge of the play. So I doubt much of anything is happening for you in the near term.
That all said, is there ANY value here? Yes, I would think so. You should have oil in the Yeso under your land. Hence people offering to lease your grandfather in the past. Would anybody lease you today? I’m not sure. Maybe. It’s hard to imagine this getting drilled in 3-5 years, but forever is a long time. You could call Spur Energy and speak to the land department and ask them if they’d like to lease you. Do I think somebody will want to lease you eventually? Yes. If you have 40 acres its probably worth at least $40k all-in for the mineral rights just on the the off chance it gets leased/drilled. It may be tough to monetize it currently but I wouldn’t give it away or anything.
At the worst, you have beautiful views of Lake Brantley from there (kidding). Hope that helps.
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