Hello all, This forum is great for keeping up with the latest news out that way. Does any one know if Encana sold their lease holdings to Sabalo like Finley did? We have property in T2 - BLK 32 - Sec. 3 . On County Rd 29 . Soon as their sale was finalized they permitted a well across from us. Any news? Thanks.
Jon,
Encana has not sold their leases to Sabalo to my knowledge. They are a much larger company than either Finley or Sabalo. Sabalo has permitted wells on either side of you that will hopefully be good. These are on the edge of the play and if they come on well I expect Encana will follow with a well of their own.
Jon,
you are finding out a landman will always tell you that drilling is eminent when leasing. this is not the case and just part of the pitch to get you to sign.
3 bench wolfcamp is what everyone is after out here. There have been some good wells come online just to the West of you but where you are specifically is considered prospective for the wolfcamp but very much unproved.
you should receive one about 3 months after the well is completed. However, this varies wildly by operator, some are very slow and take more like 6-9 to months.
Thanks for the info. ,Prospector . Well u know the story , it went from Chesapeake to Athlon then Encana. We extended the lease with these guys , so far not that impressed. They have not come that far north of I 20 like We were told they were going to do . Can I ask one more question , which play are u referring to ? Thanks , again …
Robert, You are in a good spot but it is unproven. There are maps that are very fluid but you won’t know until they drill!
Prospector, how do I know if my property is in a 3 bench wolfcamp area? It’s section 25, block 32 T2N. Is there a map that shows this?
Thanks, Prospector. We’re getting a lot of interest all the sudden. Pretty exciting!
Good Morning, we have 240 acres for lease not sale in DAWSON county please email me for more info if interested. [email protected]
clean title no issues 4 owners
We’re trying to negotiate a lease and they’re offering to up the net mineral acreage the offer is for as oppose to upping the amount. Is it better to increase your bonus by increasing your net mineral acres, or to increase the amount you’re getting paid per mineral acre?
Robert,
That makes no sense, you have X number of acres and as long as they are contiguous you should get the same price per net mineral acre. Unless there is something unusual about the circumstances, like part of the acreage being unitized in an old well, or a toplease then the number of acres is not something that should change
That is possible but I think it is unlikely if they are contiguous. Ask why they were excluded to begin with.
Mr. Guin makes sense to me. Possibly they need only part of his acres but are offering to include all of his acres. As far as I know, Texas doesn’t require that a drilling unit be any particular shape. I would certainly get the help of a savvy professional to make sure that my acres could not be excluded later. Just because they were added to the lease contract doesn’t mean you will necessarily be paid royalty for all of them.
Thank you for the input. I’ll ask some more questions.
Perry: I talked to a gentleman last week… regarding the assignment of some minerals we have. He was very professional… and helpful… and answered all of my questions… and mailed all the necessary paperwork. Our family has minerals in sections 5 and 45. Wagner sold our minerals to an “in-house” division and then assigned the minerals to Grenadier. It was an old lease that produced “enough” for Wagner to keep the lease and then do what it wanted. So far all is good. We just want someone to drill or produce the property.
Dave: I know… you are right. We have minerals in both 5 and 45 in Howard County. We’ve leased it three times and no one has drilled. Since our lease with Wagner was older… we did not have the right to deny the assignment. Our new leases allow us to withhold an assignment with “justifiable reasons”.
I found out that the other acreage comes from a relative that died without children and so his shares will pass to the rest of us. Thank you for your comments. We are still getting new interest. I’m just wondering how long to hold out.
Has anyone ever heard of or had dealings with Grenadier Energy Partners?
Grenadier Energy Partners…
http://www.waytogoto.com/wiki/index.php/Grenadier_Energy_Partners%2…
Clint Liles
Jack, Unless you have a definitive and objective reason for withholding consent, the company will fight you on any withholding, saying you are being unreasonable and have no justified reasoning. They have the funds to tie you up in court. I am speaking from experience. I recently tried to withhold consent because the company repeatedly breached the terms of the lease. Their response was the new company would be better and they were going to sue me for 5 million dollars if I did not give consent. I learned my lesson and now the consent language I use does not have to be based on reasonableness.