I have about 21 acres in section 69 block 13. Did a lease last April any info on that area would be great. Trying to decide if I should sell or stay with lease? Getting ALOT of offers. Thanks in advance Texans!
Sean -
Your interests are in Southern Reeves County, where the drilling has not yet been proven to be as successful as it is in Northern Reeves County.
There are a number of wells presently being drilled just to the northeast of your Section, however, that you will want to keep an eye on. Ask us again in another couple of months and we'll look them up for you again.
Many of the offers you are receiving may be from Speculators canvassing the entire area, asking you to commit to an offer that they will then try to sell ("Flip") for a profit before they have to pay you.
Everyone should be careful when considering offers of any kind. Even for small interests, it is always advisable to consult an Attorney when considering them.
Hope this helps -
Charles Emery Tooke III
Certified Professional Landman
Fort Worth, Texas
324-AREAMAP.pdf (66.8 KB) 325-AREADIPWELLS.pdf (46.3 KB)Thanks Charles! Just doing my homework to try and make an informed decision. Happy New Year!
For whatever it's worth, here goes. I've got some stuff in the active part and offers were going as high as $25,000 an acre , most around 18,000 to 20,000. One landman said you could figure the present value at $50,000 an acre. You know , these minerals outfits are in it to make a buck and I figured that the honest ones would offer you about 1/2 of what you would get if you kept it. My Dad told me to never sell my minerals and I have to agree with him.
John,
where is your active part? Even with the world not relying on fossil fuels as much and really pushing renewable energy? You think the demand will be there in 20-30 years still?
Sean,
We will still need fossil fuels as feedstock for the chemicals/plastics business. And without a quantum leap in battery technology, alternative energy won't replace fossils fuels very quickly. Unfortunately, it only takes a small shift in the supply/demand curves to move the price of oil substantially. So, in short, the need will be there, but the price might be low.