Hello Kelly, after checking the area I find numerous producing vertical oil wells and oil/gas wells, numerous plugged wells, numerous older permitted locations that were never drilled but no new activity. I also find in the area of Section 24 where Linn Operating and B C Operating drilled some very decent wells into the clearfork formation in 2012, 13, 14.
This link is to Production Data on one of the wells drilled into the clearfork formation and it is still doing very well:
http://webapps2.rrc.texas.gov/EWA/specificLeaseQueryAction.do?tab=init&viewType=prodAndTotalDisp&methodToCall=fromGisViewer&pdqSearchArgs.paramValue=|2=12|3=2016|4=11|5=2017|103=43391|6=O|102=08|8=specificlease|204=district|9=dispdetails|10=0
You could try for $1,000 per acre and negotiate....and ask for $25% royalty....NEGOTIATE.....INVESTING IN AN OIL /GAS ATTORNEY WOULD BE A WISE THING IF YOU CAN AFFORD IT...A bad lease is terrible and it is forever and ever
GIS map of Ector County Section 3, 5, 17/Block A:
CLICK ON MAP TO ENLARGE
Clint Liles
Hi Clint,
Thank you so much for the information I certainly didn't want you to do all that work but it is appreciated. I too think $500 is a tad low so we will see what happens when I get back to them. They are very interested and I have contacted our attorney how will help us with the lease once we get it in writing.
I need to brush up on my information sites and how to use them again. I see that crude oil is up in the $66 range and hopefully it will trickle down to our pocket books soon!
Thanks again for your opinion and help,
Kelly
Hi Chris and Clint,
Here is another question for your more experienced opinion.
I received a letter from and oil company saying, “an application with the RRC to amend previously approved permit… commingled Cowden, No. Cowden Deep into No. Cowden Deep Central Tank Battery in Ector Co.”. So I thought I might get your take before I pick up the phone and chat with the representative. Is this common and pretty much not a lot you can do since we have a long standing lease with them? Any particular questions that I might need answers to? Thanks guys!
Kelly
From what you have stated here, production from more than one well/several wells will be going into the same tank battery. As long as you are still getting paid for your share of the oil flowing into the tank battery. Sometime when you start messing with things, changing this and that things get screwed up. Whatever they want to change you can bet it is to their advantage financially.
My 2 cents worth..............
Clint Liles
Well isn’t that the way it always is. It appears that there really isn’t much I could do about it unless in mass WE ALL protest… Thanks your 2 cents is appreciated.
Good Afternoon,
My family and I have 2 areas of land to LEASE not sale in DAWSON county there are 4 of us, we have 240 acres in section 2 block 35 T4N, we have had wells on this land before, just not drilled but about 5000 ft so I know there is oil there, plus we have 160 acres for lease it is located at section 28 block 35 T5N, we are open to lease all together or by themselves.
please contact me on here or at [email protected]
Dear Willard,
Be careful when leasing the minerals. The Big Print Giveth and the Small Price takes it back. Be sure to have a Oil and Gas Attorney look it over.
If you don't have a lot of money. I suggest what I did, I joined Prepaid Legal, and for $25 a month, you can have Oil and Gas Attorney Bill help you like he helped me, mades some good suggestions, one suggestion he made, Chesapeake gave told our family we own land, I couldn't find it in any inventory and the Gas company is always right, Right. Well they paid her $5000 an acre twice, whole lot of money, then came back and said we had them over barrel because of Total Buy in. But he didn't want to pay us $5000 an acre on the third trip, just $4750 instead of the $17,500 he had given me twice already for 3 year lease, no option. Came to find out, it was not our land, but because of clause Bill has us insert in the contract. We do not have to pay a dime back.
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