In the last 2 days I received as many offers to buy our minerals in Blk 13 Sec 68.I think both (184K and 131K),we’re extremely low for 160 ac.Property is not in a super great area so being suspicious of nearly everything, I wonder if there might be a reason unknown to me someone would be interested in this acreage. Can’t wait till tomorrow to see what the mail person puts in my box.will keep you informed. Again , thnx to the forum Cj
1 Like
Charles I agree it’s not a super great area but there is the possibility there are at least 2 and maybe 4 possible productive zones in that area. If you have 100% of the minerals the offers are EXTREMELY LOW
1 Like
You are presumably in pay for the existing Primexx/Callon wells? Denton Unit 68-107E and W…
I don’t know what anyone thinks/knows is happening, but how much they think or know is directly related to how much they are offering you per NRA. This is just spitballing these numbers…but if somebody is offering you $10k PNRA for Southern Block 13 then clearly something is happening that is not obvious to the informed public. If they are offering you $1k PNRA then they are just throwing out lines for bites. If it’s around $4k-5k/NRA then they are speculating. In my opinion.
If you own 100% of 160 acres leased at 18-25% royalty, then offering you $184k means they don’t have to know anything. At all. Or at least don’t have to. Just fishing. Like Clint said, very low. IMO nobody is sending out sneaky super secret insider information offers in the mail. Much more likely to be fishing. If you know something to make this worth a lot more, you call people who own it.
This is on the SW edge of the established Wolfcamp production. But…Tall City is drilling South of there right now. The current wells are not great, but on average they make money. And there are wells right nearby that have made > 300kbo. People like Tall City without a zillion acreage options would probably want to drill wells around here. In general the trend is that going further south in Block 13 at these > $75 (and up) oil prices is viable. Like you say, not great. But viable, and it’s more apparent that’s it’s viable than before. So that means your stuff is worth a bit more than it was prior. Starts to get into the speculation bucket.
2 Likes
I was told by Rockman(Geologist, Mark Przywara) that more drilling(more interest) would be taking place in this area and to the South but here is a lack of pipelines to carry the oil and gas to market. I have minerals in Block 13/A-5675 and would welcome some new pipelines to the area.
1 Like
Yesterday, for the first time in five years, I received an offer to buy my land. From McGlynn in Las Vegas. Did McGlynn send you one? First, he offered $343/acre which seems to me is comical; but funniest of all, he sent it to the wrong person. He was offering on a parcel in Blk 5, 71 acres. I own in Blk 59, 560 acres. World’s apart. I looked up the tract he listed, and his offer was a third of appraisal value. Not too impressive.
Morning Mr Clint. Thanks for the reply . Your opinion means a lot to me and the forum. Yes,we own all the minerals and surface.I am hoping someday Companies will be exploring for nat gas given the price currently and the fact they are building new LNG plants and some are investing in ships to get the product to foreign markets. A little help from our "leaders"would be great but most people don’t expect anything for a couple more years. Thnx again and hope you are well. Cj
1 Like
Just to clarify. There are current horizontal producers in Sec 68 of Block 13. You have to own in one of these two wells, unless I’m off my rocker. Maybe you are talking about additional wells. But if you have 160 acres in either one of those wells you should already have made quite a bit of cash.
Maybe I’m just confused.
Yes Charles the natural gas market is looking very good…that’s why Jerry Jones invested 1.1 Billion Dollars in Comstock Resources…and doing quite well with his investment.
1 Like
Good evening NMoilboy . Thnx for your reply. I should have been a little clearer. We are getting royalty checks for the west well but not the east well.Don’t get me wrong,I am happy and fortunate for this!! The east well probably produces twice as much as the west, only a mile away. West well is selling 750 bbls+ - each month plus a little gas.Sure can’t complain. BTW, what part of the world do you live in? I’m at exit 5 on I 20. Cj
1 Like
David. As you, my offers were unsolicited as well as unexpected. I firmly believe no one could explain their motives better than NMoilboy has. I envy his,and others that,comment on the forum. Cj
1 Like
Mr. Liles, GIS cannot identify 13/A-5675. Is there another designation? Thanks
Oh this ought to be an interesting response!!
Good morning Linton …how U B this morning?
“BTW, what part of the world do you live in? I’m at exit 5 on I 20. Cj”
currently @ i35w exit 64-ish. homestead just off US285 in Artesia.
Since the only obvious place there is a 160 acre lease is in the NW/4 of Sec 68 it makes sense that you are in the Western well. Yep, it’s not as good as the Eastern one. On a long enough timeline basic math (rigs drilling vs places rig can drill) says you should get more wells. Might take 20 years though.
cheers.
Spent a few days off and on in Artesia in the old days. I lived in Kermit and worked for Transwestern PL.You didn’t have an interstate system then. I had a friend named Slim,for obvious reasons, who was the same age then as I am now and said he never bought green bananas. So , if the company drags their feet some one else will reap the bennies. On the bright side you are spot on. Thnx for the reply. Cj
Offer number 3 arrived yesterday,162k this time. NMoilboy was right,I think. Either they were fishing or passing time watching traffic move on 35 W and 35 E from the office window. Good morning guys and thnx to the forum those who respond to the novice questions.Cj N5LWV
Good morning boys and girls. Another fisherman has jumped in the boat. The fourth written offer is significant,465K. Hard to believe someone would pay that for 160 ac selling 750± barrels per month. Have received 2 phone messages with no dollar amount ventured.I have decided if it is worth that to someone else,think I will keep it. Thnx again to the forum and those that answer our questions. Cj. N5LWV
1 Like
This topic was automatically closed after 90 days. New replies are no longer allowed.