WildHorse did call me back. They bought up all of PetroMax in that area. The lady was very nice and said she would have a landman call me to give me further info on my particular area. Said it does not look like there is activity on my acreage at this time, but I should discuss it with the landman for better info. My original lease was $1250 an acre and 22% with PetroMax. She said Wild Horse purchased it in December from PetroMax. I'll post what happens when the landman calls.
I had a lease with Halcon that they extended back in Jan to the tune of about $30K all acres involved but WH now has that lease. It will expire in 18 months. In an effort to know if they intend to drill I reached out to WH. Got a woman's name off this thread a while back. I was told to talk to Hershal Walker in the Houston office. I called and have got nothing but phone tag so far Mr Walker's number is 713 277 9317. If anyone else speaks to him please let me know.
I also was given the name Hershal, but no number. I'll try to call next week and see what happens. My original lease ends in October- Thanks for the number.
Recent comments have stated that Wildhorse Resources has acquired some of Halcon's Burleson county leases. My understanding from Halcon's January 2017 news release that all of their East Texas leases were sold to Hawkwood Energy. Can anyone verify that WH has acquired some Hawkwood's leases? I noticed that Hawkwood recently filed for drilling permits.
Looks like I may have miss spoke about Halcon being acquired by Wildhorse. I apologize for that error.
Rock Man, thanks for the follow up.
Has anyone interacted with Hawkwood? If so, is there contact info available?
Has anyone worked with or heard from Dorado Petroleum?
Actually I misspoke. WH is the operating Co. for Hawkwood on my lease ...sorry. I spoke to some at Hawkwood. Hawkwood referred me to WH when I wanted to know about potential drilling.
Dorado is a land and leasing company - not an operator. They have probably been contracted to handle the leasing for an operating company (like Wild Horse)
So is there a number and name for an individual at hawkwood to discuss exiating leasea? I will direct calls for drilling potential to WH. Thanks for the help everybody!
I spoke with Hershal at 713-568-4910. He called me and that was the calling number that showed up on my phone. WH has not contacted many of those whose leases were bought up. I got a letter because I made an inquiry about my lease. WH has several options 1. say nothing--mail a check if they have a well on your lease. 2 If your lease is ending and they want an extension, mail you an offer 30 days before lease expires. 3 Simply let the lease expire. Because my lease expires in October, he looked it up. He is not sure exactly what will be done in my area, but did say they might make an extended offer at a lower price due to oil prices at this time. Said oil prices were around $150 a barrel when lease was signed and are now about $50 a barrel. He was very nice on the call. I had the feeling they MAY make an offer to
extend my lease at lower rate. Since the lease expires Oct 16th, I expect to get a letter in the next month. He also said that PetroMax and WildHorse has some what merged--rather than a sell-out--whatever that meant. I did leave a message for him and he did reply within a couple of days. So I should know in the next month or so what their position is.
Note on Wildhorse - last week I met with reps from Petromax and got a semi update on their situation with Wildhorse.
Wildhorse principals originally were at Petromax and have broken off to form WH. However, Petromax is still supposedly involved in some of the WH assets but is also moving ahead on their own as a separate entity. This is all being worked out right now between the two companies as they try to move ahead so some confusion and chaos as to especially WH plans is to be expected.
Side note on soon to be expiring leases...........
Expect to be contacted by brokers from other companies about "top leasing" your acreage. This process basically lets you make a deal to lease your acreage with a new company in case WH does not re-new or you don't want to re-new with them. New company puts up part of the bonus when you sign and then the rest if WH does not renew and you go with the new company. Obviously a lot of intricacies and issues tied to this sort of deal.
Brokers watch this and similar sites to find leads and opportunities
If the lease was taken over by Wildhorse do we even negotiate? Our lease was originally a vertical well/Apache ran it. Anadarko bought them out in 2014 and drilled horizontally and we started receiving royalty checks from them, but did not sign anything on the lease, because it was not a renewal (so I think). Question-- does Wildhorse have to renegotiate or do they just take over where Anadarko left off? Anadarko had overpaid us (so they say) and stopped paying royalties about 18 months ago.
I should have mentioned that all our wells were sealed off, all equipment removed from our land and they dug wells on our neighbor's property (horizontal) that go under our land.
Sounds like our minerals are tied up as HBP (held be production) by the wells that run under your land. WH just takes over this operation and continues to handle accounting and production ops issues - no need to renegotiate anything as I see it
Thank you. I agree. Since Wildhorse did not overpay it will be interesting if they start up royalty payments. I can see the wells are active.
WH will assume the over payment issue - if they "over look" it and start paying again, they will eventually catch it and stop payments until things are properly balanced
We stopped getting any statements once they said they overpaid and following it is hard.