Our lease is expiring in March 2019. Last March CDEV Centennial sold what appears to be, on their presentation map, half of section 82 block 4. We are in that half and have not been able to figure out who purchased the lease from Centennial. We are also wondering what leases are now going for in our area. BTW our abstract # is ab-5662. Would appreciate any thoughts you might have. K
The free search at wwwtexasfile.com reveals:
[Grantor] CENTENNIAL RESOURCE PRODUCTION LLC [Grantee] MDC REEVES ENERGY
- Survey name: H & GN RR CO
- Section: 82
- Block: 4
- Acreage: 186.67|
PARTIAL ASSIGNMENT AND BILL OF SALE
Thanks for the info AJ any idea about leases in that area? Kerry
You are welcome, KerryD. Unfortunately, I do not know much about Reeves.
Hey Kerry,
I’ve purchased leases near that area of Block 4 in Reeves from $2500-5000/acre. Keep in mind that a lot can happen between now and March, and it’s likely that MDC will begin operations before the end of the term of the lease.
If you’d like more help with this, please feel free to contact me.
-Trey
Trey I really appreciate your taking the time to respond to my question. KD
Kerry, Start at $18,000 per acre and look hard at anything over $12,000. $5000 is way low unless you have unusual circumstances.
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Wow! I didn’t know price had jumped that high for bonuses in this area. We paid far less for acreage slightly offset (eastern boundary of adjacent block) to this Section earlier this year.
Kerry, I would trust Wade here and shoot for north of $15k.
Wade thank you for taking the time to respond. Kerry
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