Has anyone heard anything about the Heard well off of FM 400 in Happy Union, rig has been on location for awhile now.
It appears that Laredo Petroleum has a huge discovery with their Heard well.
I have seen the recent activity at well site, but what leads you to believe that this is a huge discovery? Kepping tight lipped on this one, my understanding is that royalty owners don’t have a clue about well.
If it is in the Palo Duro Basin it is a huge discovery.
Count the tanks on the location.
You do not need tanks unless you are producing something.
We leased some acres in Sec. 19, Block R (About 1.5 to 2 miles SW of Happy Union) Think the "discovery" would extend to that area?
I have no idea if it is a one well zone or many wells in the area.,
All i know is you don' set three 500 bbl tanks unless you have a killer well.
806-388-5861
I have a mineral interest in Sec. 23 Bk R and Sec 28 Bk R. If you have any information about leasing on these sections could you forward me the names and any addresses. It would be much appreciated.
Does anyone have an update on activity in Hale County, Section 37, especially Block R?
PetroTerre has just put up for sale some of their leasehold interests (at auction to the highest bidder); these particular interests are very near the Heard well.
Is this good news or bad. Have heard rumors that the well is good producer.
The map below shows some of the Hale County leasing in the immediate area of the Heard well:
I have some property about 3.5 mile NW of the Heard 4. I received an offer a couple of weeks ago. I am not excited about the terms, 1/6th and 5 years with a 5 year extension option......not a big bonus either. I would like to lease but this offer seems sort of one sided to me. Any input would be appreciated.
Rod:
I have to agree that this is not a good offer. Either they don't have much confidence in the lease, or they are trying to lowball while they still can. I'm guessing your bonus might be $50 or $100 per acre. Anyway, if there is really a good discovery in the area, they will return to you with better offers; you will kick yourself for accepting an offer like that. On the down side, if there is no discovery, what you might lose is the bonus money. If that's not enough to make a difference to you, I personally would not commit at this stage of the game.
Another approach would be to counter with 3/16 and a 3-year lease and see what they say, but there's probably no way they're going to give a decent bonus right now.
It might be useful to watch the auction of the PetroTerre property on June 25th (energynet.com). That might give us some indication of whether it is worth anything or not.
Thanks JW! The lease money is not a big deal.......I can't find out much about the company that made the offer and I am suspicious that it may be a speculator who deals in leases and is not a company that is actually exploring for oil and gas in the Palo Duro Basin.....I had basically made up my mind to wait but always looking for more information.....
According to the RRC website Heard 4 was submitted for completion on July 14 and shows as a shut-in producer. Is it safe to assume that is for further exploration in that field?
Looks like the Heard 4 well is a dry hole. The tank battery is gone and a plugging unit is on location.
Sorry
$50.00 an acre bonus for Goat Pasture is a decent bonus JW
Can anyone tell me about the rig I saw about 5 miles East of Hale Center? Not sure if it is a new well, rework, oil, gas or what.
I did not have the time to get up close to get well number or name or company info.
I'm thinking it is around 1914 and CR V
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