Anything new going on in Borden with the Higginbotham area?
The one well is producing great. The reserves in the area are proven. Until prices improve not much more will happen. Maybe our descendants will make some money out of it.
Well that is good to know. We are all hoping for rising prices in our lifetime however. :) Do you know if they have proven reserves in other areas of that ranch yet for future drilling?
Tall Cities is offering us $375 an acre and 20% for a 3 year extension on our Borden/Howard County lease. We have one good producing well Higgenbotham II and would surely have had more if the prices had held. My question is now that the area is "proven" is this a decent offer? It would be as impossible as herding cats to get all, or a majority of the current lease holders to go the same way. My guess is most will jump on this like a duck on a junebug. Any opinions from those that own proven reserves out there?
Tall City has done a 3D seismic on their area that they have leased in Borden County, If they are willing to release they must believe that they have a area that has prospects and just waiting for prices to come up. When the price was at $60 they started to drill a well on the Borden County/Howard County line on 7-31-2015.We were told that they would probably drill the Susie B 4-5 1H and the Pruitt 24-13 1H in our area sometime this fall. You could counter the offer and ask for 1/4 royalty when would benefit you in the future.
Dan did you make a counter offer to Tall City and when is your lease up? If they will not come up in price at least try and get a 1/4 royalty which I know plenty of their leases in Borden County have. Let us know what happens, there are a number of people on the forum that has leases with Tall City coming up for renewal in the next 9 months or so?
A Chinese Company, Yantai Xinchao Company and 7 shareholders has been approved to buy the oil leases held by Tall City. Exploration and Plymouth Petroleum in Borden and Howard Counties for $1.3 billon. You can read the article about this sale in the Oil and gas Journal.
I am forwarding this not from Angela at TC that I received this morning. I don't think she would mind:
We will be operating the properties for a few months, and the company that will take over is Surge Operating. They are staffed with many local folks, very qualified. It is very exciting because they will be drilling at a faster rate than we did! Everything is continuing ahead as planned. Thanks for your note! All the best,
Angela
Mr. Pruitt.. what issues of the O&G Journal? They're stacked up ready to read...haven't looked at them in a couple months.
Jack I believe it was issued on 10-26. You can Google the name of the Chinese Company and it shows the articles. Dan is right it is Chinese money backing a American Company. Thank you Dan for the information, I talked with Laura this morning and had a similar email from Angela. Maybe when the price of Oil comes up we will get some more horizontal wells drilled in the area.
Mr. Pruitt: Thanks. Will search for it. I think a Chinese company has a share of some of our leases in Howard County... somehow through assignment if i recall. thanks again
HAPPY THANKSGIVING!!!
I know every thing is slow right now, but has anyone been leased or offered a lease lately and what amount of bonus was offered?
We were able to get $400 per acre & 20% in October-- for 3 years more with no option years. Our leases were expiring in Jan 2016. There was only three in my family and one or two others that got this. Most of my family group had leases expiring in Mar 2016. The last I heard from any of them is that they have not yet received an offer. Frankly I will be surprised if there are any more offers in the works. Among the other problems this Iran thing has the markets headed to the bottom. I live near the Eagle Shale in South Texas and ghost towns are springing up down there. We live in the only oil producing country in the world that has a government that hates the industry and does all it can to work at cross purposes with it.
Dan they have contacted us and in the process of releasing at the same offer that you received. Our group leases are up also in January 2016 and the rest of the leases in our area are up in March 2016. What name did they use on the lease as leasor? Tall City is doing the leg work for the new buyers. After spending the type of money for these leases I expect they do not want to lose them and at the moment it is not feasible to drill these horizontal wells with $29 oil. Yes because of this Iran deal the stock market has lost over 10% and it is hurting peoples retirement accounts and all the loss of jobs in the Oil industry.
Good afternoon,
My family and I have about 240 acres in DAWSON county we are looking to lease, it is in block 35 section 2 T4N, we are NOT interested in selling this land, we just want to lease the mineral rights. if anyone is interested please contact me on here or send me a e-mail at [email protected] Thank you.
Good Afternoon
We have 160 Acres in DAWSON County Tx for lease not sale it is all of the N/W 4 of section 28 Block 35 T5N, we own 100% of the minerals and all the depth there are 4 of us. if anyone is interested please contact me @ [email protected] or on here. Thank you
Mr. Rogers; Need to place you leasing add in the market place according to the policies of this forum.
Look's like things are looking up for southern Borden County. Surge Energy has applied for 11 horizontal permits in 2017 so far and completed several wells in the Wolfcamp shale. They have also applied for a permit for the Sprayberry next to a completed well in the Wolfcamp. If these test wells prove out like all of their drilling in Howard County should be very promising in 2018.
Anyone getting any good production from the new horizontal wells being drilled in Boren County? Activity seems to be picking up.