Escopeta Oil & Gas Corporation has recorded 45 leases in Hale County, from the middle of 2012 and continuing to the present. A lot of this appears to be in the northeast part of Hale County.
I was wondering what the lease rates are going for in Hale county. I currently have an offer, but I don’t think it is market value.
None of the recorded leases ever mention the dollar amount of the lease, which is standard. Perhaps some of the members could chime one. In a post below, someone mentioned $150 per acre and 20% royalty. In neighboring Hockley County, you typically see royalty between 20% and 25%, and bonus between $300 and $450. With Hale County being on the northern outskirts of current intereest, they probably can get away with offering less.
I just recently learned that I inherited the gas and oil mineral rights to a section in Hale County and signed a ratification. However, I have a sister who refuses to be involved and sign hers. What effect, if any, does this present for the company’s ability to drill in the area?
Many times people who own mineral rights, but do not own the "executive lease rights", are asked to sign a ratification. In other words, some other mineral rights owner in the past has retained the executive rights, which allow him to negotiate the terms of all oil and gas leases. I don't know if that is your situation or not. If this is the case, I don't believe that would prevent the oil company from proceeding, since they would have a valid lease. However, your sister might not receive her share of any proceeds. The only way to know for sure is to ask an attorney regarding your specific situation.
They are producing the Phillips Well Northwest of Abernathy.
There is a Brand new Lufkin (huge) unit on it.
Has anyone seen leases in Hale county recently
I have been approached with $60 and 3/16 would any one like to say does that sound like local offers that you have seen
seems Abernathy is receiving more they are in a better position
Where is your land located?
east of Plainview
where east of plainview?
i can't help you if I don't know where your land is.
Just east of town south of Hwy 70
I have received same offer for land located east of Plainview.
East of Plainview could be all the way to paducah or further
Give me a legal description and maybe i can help you
I hate to be to specific let just say a stones throw from Plainview
Family has other interests else where they seem to be bringing more lease $ but they are in more active areas also
I was interested in leasing you at three times that price but I am not going to play games with you.
Flatlander what are your thoughts on the offer
I would be interested in knowing
my spot is a ways from any current production
Not the greatest offer, but hard to turn down due to the lack of activity anywhere in the area.
Similar to my thoughts would hate to miss out but haven't accepted it at this time waiting to feel it out right now
Laredo Petroleum has a new permit to drill in Hale County. The Heard 4 well is a vertical well 3.5 miles south of Happy Union - in section 4 block R. This well is about 16 miles due south of Plainview.