Where in Gaines County is it?
To Randy Bentley and all others: I too have received offers to buy 7 acres of non producing mineral property at $200 per acre. There has been no production on this property for the past 50 years. Why is it considered to be valuable at this time. Is there gold dust mixed in with the sand?
Not sure how much recent success, but there has been a fair amount of activity as Clint mentions. Enough so, that I’m getting unsolicited offers for sale of our mineral rights… yes, SM is the former St. Marys.
Awesome Clint- thank you. Is it possible to see where they are in relation to our lease…Is there a way to map these?
For instance in Gaines County/Abstract 123:
http://webapps2.rrc.state.tx.us/EWA/drillingPermitDetailAction.do?m…
Look for the well 38017 in the following GIS Map. This is the last approved permitted well on the list of 12.
Clint Liles
Thanks again…I will start playing around with the viewer…can you tell me what the color code means…green, clear, etc…
Clint: Where are leasing prices in Gaines?
Harold,
Am posting a link to approved permits for Gaines County from April 01, 2014 thru April 08, 2014/12 approved permits /2 pages…lots of activity in Gaines County in the past week…
http://webapps2.rrc.state.tx.us/EWA/drillingPermitsQueryAction.do?p…
Clint Liles
Completion Report/Gaines County Texas/Vertical well…Very good for a vertical well.
http://webapps.rrc.state.tx.us/CMPL/viewPdfReportFormAction.do?meth…
Clint Liles
Harold and Steve,
RRC PUBLIC GIS MAP VIEWER LINK:
http://gis2.rrc.state.tx.us/public/startit.htm
Clint Liles
Harold,
Gaines County is very active at this time. Several of the formations that are being targeted for production by the operators are Canyon, Seminole, Clearfork, San Andres, Wichita Albany, Sprayberry, Strawn, Atoka and several others. Now would not be the time to even think about selling your minerals unless you are in a desperate need for money. And then you could possibly sell a small percentage of your minerals.
Clint Liles
Steve,
I cant answer your question. Possibly one of the Gaines County members that have minerals there can help you with that question.
Clint Liles
Thanks Clint- I am trying to get a bead on the permitting and drilling activity this week as this offer came across last week…I don’t have access to alot of the databases that others have though. I would be interested to know what those selling minerals in the area are getting for their acreage…I might be interested in parting with some of my holdings…
As for lease prices, Steve, I signed a 3 year (2yr option) on our unit with SM last fall for $500 an acre and 25% royalty. I believe this is on par with most others in the area…
I just got a renewal for the lease for my 280 acres. The first lease period was for 3 years and got $400. an acre with 25% royalty with the option to extend the lease for 2 more years at the same price. The renewal was for the next two years as the first three years are just now up. I hope they drill and HIT oil BIG!!
Mike,
That # will be on your deed to the property and also on the property tax receipt that you would get each year from the Gaines County Tax office.
It will be like A-215 or Abstract # 2153 or similar
Clint Liles
I think I have the Info now. It is Abstract A-746 Survey WT RR CO Block G Sec 168
Thanks
Not sure how active this group is, but I’ve just joined to see if anyone has been getting offers in SE Gaines County for their mineral rights and if so what they were offerred. I have an offer for $1800 per acre but am wondering if that is low…I’m probably not going to sell, at least not all, but if there is someone out there offering over 2k I might be inclined to sell some of my interest… anyway, look forward to having a few discussions and sharing some knowledge…
Thanks Harold. I just received offer for $400 and 22.5%, 3+2.
Has there been any drilling success down there?
SM stands for St. Marys?
Yes — thanks Clint.
I received an offer for 725 an acre, plus a “hedge” whatever that is. Why all the offers lately?