Can anyone provide me with the going the Lease Bonus rate in Midland County?
Depends on the exact legal description. Give us section block abstract etc. and we can help.
Thank you for your response. The legal description is:
BABB “30”, XTO ENERGY, T4S BLK 38 SEC 30, RRC-08-32407
I do appreciate your help with this.
It is an extension to a lease that is about to pugh out.
How many NMA do you control?
I just spoke with NARO yesterday. I am further north than you in Block 38 T3S. We are pretty much on deepest depth on the centerline but don’t know how it is X many mile south of me. Wide Range $80/acre to $10250/acre Royalties, 20% to 25% Term is 1 to 3 years.
You are Tier 1 Rock. Settle for nothing less than top pay and top terms. I just checked DrillingInfo.com for your location and cross referenced to a 2016 Pioneer presentation graphic of depth of play and you are close to an example well illustrating your proximity (3 to 5 miles east of you) to the deepest well illustrated on that cross section.
Just in case an image can post. This illustrates closely your proximity in the basin. I circled your section 30 in red and placed a red centerline through the relevant body of the basin and marked the relevent well, Bowles 30, closest to your section.
which is from slide 40 of the Pioneer September 2016 investor presentation, a commonly used slide of that era:
CHEERS!
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