Welcome all. Let me start with the offers I have received in Culberson county.
Our first offer, which we uneducatedly accepted, was back in late 2010. It was $250/acre, 3/16 royalty, 3year +2year option. This was for our interests in section 42 block 45 of Culberson county. Honestly at the time we were unaware we had land here. But upon further investigation found we did.
We have five sections primarily in Culberson county with one section partly in Reeves county.
Then another landman sent us an offer for sections 43 and 44 of block 45 offering $400/acre, 3/16, 3+2. We turned him down and had not hear from him again. I think Wm. Scott Ramsey was his name.
Our most recent offer was for our interests in sections 43,44,46 in block 45 and section 4 of block 53. This offer was $800/acre, 1/5, 3+2. Since we have received this offer I was introduced to this website and needless to say we have declined this initial offer from them.
I hope to hear from more folks who have land in Culberson county so we can all make more informed decisions.
What is the current rates / best offers in the Culberson County. Also what are the pros and cons to put the Land / Mineral Rights in a Trust or hold in own name.
What is the current rates / best offers in the Culberson County. Also what are the pros and cons to put the Land / Mineral Rights in a Trust or hold in own name.
It was Data Land Consulting,LLC out of Amarillo, TX . They were representing Conoco Phillips. FIrst i had BTA Oil and Gas making an offer and they were too low then Scott Ramsey quoted us $ 500 @ acre plus 1/5 ,3/2 yr. lease. Conoco called .... first offer was $700 @ acre 1/4 , 3/2 yr lease ... finalized at the agreement above.
Conoco has not drilled and they have told me they will extend the lease for 2 yrs. Pertohawk new name BPH BIlliton has leased in our area and drilled N of us. Believe nat gas pipeline capacity is stifling some of the drilling. Know majors have seismic surveyed in my area. I will let you know if things change. If you have any other questions feel free to contact me.
We own the N/2 of Section 20, Blk. 60 and have been approached by a land man representing Cimarex for $500 per ac. 1/4 interest. Seems low. Any thoughts would be greatly appreciated. Also own N/2 of Section 34, Blk. 61 but haven't had any inquiries.
I recently inherited 10+ acres in Culberson County. AB 2293 Blk 59 NE/4SE/4SW/4, Sec 46 TWP 1 T&P RY. Not a clue what all that means. It has 1/2 mineral rights. I've been offered $450 per acre, plus 1/2. Being from out of state, it's all new to me. First thing I'd like to find out is exactly where this property is located within Culberson County. Does anyone have a link that shows parcel locations? Our offer is from Cimarex. First lease he sent had "errors" so that if I had signed, I would have gotten $10. Total.
do not lease for less than $8000 an acre and a 1/4 royalty. If you are unleased at this point then you can name your price!
pamela isabell said:
I recently inherited 10+ acres in Culberson County. AB 2293 Blk 59 NE/4SE/4SW/4, Sec 46 TWP 1 T&P RY. Not a clue what all that means. It has 1/2 mineral rights. I've been offered $450 per acre, plus 1/2. Being from out of state, it's all new to me. First thing I'd like to find out is exactly where this property is located within Culberson County. Does anyone have a link that shows parcel locations? Our offer is from Cimarex. First lease he sent had "errors" so that if I had signed, I would have gotten $10. Total.
Does anyone know what is happening in Culberson County, who's drilling? My final offer with Cimarex was substantially higher than their original offer. It pays to negotiate.
Does anyone know what is happening in Culberson County, who's drilling? My final offer with Cimarex was substantially higher than their original offer. It pays to negotiate.
Politely asked,where did you come up with the figure $8000/AC and 1/4 royalty?
Isn't $350/AC and 3/16 royalty pretty standard?
I own almost 22 AC in Culberson County Section 46 and received approx. 2 years ago $350/AC and 3/16 royalty.Did they( Shaw Interests ) lowball me?
Mark Brown said:
do not lease for less than $8000 an acre and a 1/4 royalty. If you are unleased at this point then you can name your price!
pamela isabell said:
I recently inherited 10+ acres in Culberson County. AB 2293 Blk 59 NE/4SE/4SW/4, Sec 46 TWP 1 T&P RY. Not a clue what all that means. It has 1/2 mineral rights. I've been offered $450 per acre, plus 1/2. Being from out of state, it's all new to me. First thing I'd like to find out is exactly where this property is located within Culberson County. Does anyone have a link that shows parcel locations? Our offer is from Cimarex. First lease he sent had "errors" so that if I had signed, I would have gotten $10. Total.
They have been paying over $5000 and a 1/4 royalty a few miles east into Ward. I know they have paid over $4000 an acre in Culberson. When they paid 350 and 3/16 they were the only ones leasing. Not so anymore. ConocoPhillips, Concho, Limestone Energy and the Bellomy Group have filed lots of leases recently. If you are unleased at this point then you are one of the last and can make the terms. These wells cost 8-9 million and they are drilling 4-8 wells a section. The lease bonus is small compared to development cost. also if you go to their website they LOVE this area. Their landmen are nice to deal with but do not offer the best terms.
I have to agree with Mr. Brown on this one. I have been offered comparable prices within the same area of interest. I was offered $7,500/acre and 1/4 royalty in North Culbertson. I inherited my interest from my father and have held on to them very close with no intent to sell. I am not one the has been interested in leasing my minerals, however; at prices such as these, my interest peeking.
Best of luck!
Steven Harrison said:
Dear Mr. Brown,
Politely asked,where did you come up with the figure $8000/AC and 1/4 royalty?
Isn't $350/AC and 3/16 royalty pretty standard?
I own almost 22 AC in Culberson County Section 46 and received approx. 2 years ago $350/AC and 3/16 royalty.Did they( Shaw Interests ) lowball me?
Mark Brown said:
do not lease for less than $8000 an acre and a 1/4 royalty. If you are unleased at this point then you can name your price!
pamela isabell said:
I recently inherited 10+ acres in Culberson County. AB 2293 Blk 59 NE/4SE/4SW/4, Sec 46 TWP 1 T&P RY. Not a clue what all that means. It has 1/2 mineral rights. I've been offered $450 per acre, plus 1/2. Being from out of state, it's all new to me. First thing I'd like to find out is exactly where this property is located within Culberson County. Does anyone have a link that shows parcel locations? Our offer is from Cimarex. First lease he sent had "errors" so that if I had signed, I would have gotten $10. Total.
Is there any link to a map of where the sections are located? I've tried some of the links but they result in a "blank page" with no data. I've tried numerous times to find out where the property I inherited is, but no luck. Also, they have sent me a "Memorandum of Agreement for Surface Use Agreement." What is this?
I am looking to purchase a piece of Land in Pecos County Texas located at 491 10 H&GN SEC 45. and had a couple of questions and would really appreciate any opinions or suggestions.
Is this located in an area of potential interest for Oil Exploration?
How can I ensure with certainty that all Oil and Mineral Rights are being transferred?
If the Deed has a statement like "Excepting certain subsurface mineral rights of record, but without rights to surface entry." would that pose a problem when leasing the land? The Seller claims that Oil and Mineral Rights are included and states as such in the Real Property Transfer Declaration.