i have an offer to sell minerals in sec 35 blk 38 and was wondering if there is any current information concerning new drilling in or below the sprayberry trend
This is presumably Blk 38 T1N?
If so, there is nothing happening there currently. If rigs keep running in the Midland Basin you will IMO get 20-ish horizontal Pioneer wells drilled there sometime between now and 2033 or so.
1 Like
thank you for responding, the property is Blk 38 T1S not N. Im just learning the RRC site and bureaucrats make everything convoluted hence difficult to navigate.
my mistake it is T1N sec35
Yep, John, the RRC is no bueno.
Right, wrong, or somewhere in between I think people have convinced themselves that all of Martin Cty is going to get drilled up and thus I’d suspect that someone would be willing to pay you a decent price for your acreage despite the lack of apparent near term activity. The person/group that offered you may or may not be that someone.
This is a link which will open the RRC GIS Map Viewer on an oil well in your section: http://gis.rrc.texas.gov/GISViewer/index.html?api=31733463
To your southwest, there is a permitted hz well within 500’ of your section.
Maybe NMoilboy will expand on what ten or twenty hz wells in your section could be worth vs the amount your have been offered.
Perhaps de-risk by selling a fraction of your interest?
This topic was automatically closed after 90 days. New replies are no longer allowed.