We have had several offers for leasing our mineral rights. offers from 500 to 2000 per acre.
Has anyone else been contacted around this area.
We leased our mineral rights in Pecos County earlier this year...offers ranged from 1200 to 6000 per acre. Highly recommend engaging a mineral rights lawyer to negotiate on your behalf.
Hello L. John .....
I am also a mineral owner in Pecos County. Mind if I ask the location of your recently leased minerals (Block, Section) in Pecos County ....... and what bonus per acre you were able to get ...... and who you leased to? Would appreciate any info you could provide. Thanks.
Block 48, Section 9 - offers came from Samson, Brigham, Crimson, McClure and several others. The bonus offered ranged from 1200 to 6000 per acre. Highly recommend engaging a mineral rights lawyer to negotiate on your behalf.
Jim, OBTX and Beacon E&P. I talked to a friend who has l leases in our area. He had friend of his, who works for a major oil co. Contact me. He told me to hold off until they got back to me. He said 5-7000 per acre. Lots of veribles to look at. Three yrs. only on lease. If you sign with option for additional yrs and price goes to 10,000 per acre, your Screwed. I can have them contact you also
I'll join this discussion since we have RI in Sec 81 Blk 'OW". Initial leasing in area. Bonus starting about 1,500. This is a start. I cant see too much HBP in surrounding area.
Hz is horizontal well
Wlfcmp is Wolfcamp formation (a rock unit / formation) - target interval for this horizontal well
Operator will drill straight hole to just above the Wolfcamp formation and then start curving wellbore until horizontal to drill 10,000' long lateral wellbore.
And then set casing and frac the well. About $6-$8 Million total depending on the area to do this
OBTX called again today. Trying to push but it won’t work. We just have to stand together
If we could get the surrounding lease owners on the same page we would have a lot more bargaining power.
Let me know if you would like to talk with Craig and get his input.
Jim M, no we have not leased and doubt if we do at this time. Bonus prices "appear" to be low but time will tell. Some companies may actually just drill their packages and wait for others to come in or have the joint venture guys go in separate directions. Then we have the ones that just want to drill and not completely "complete". What needs to be in gamble is for a completion of some decent wells. In the area of section 80 , 81,etc in Block "OW" leasing activity is varied. You see Jetstream, Whitehorse et al in the surrounding area but that does mean they will go outside their boundaries, just not for now. Two to three miles separation from active leasing can cause dilution of bonus monies for a time period. Our policy is see if more than one company comes along. Maybe the leasing agents will read this and move in.
We received offers for Section 86, Blk OW from Beacon E&P and Main Street Energy. Offers ranged from $ 500 to $ 1500/acre bonus and 15 -25% royalty. I am new to this and am also looking to determine what the current offers are as I see below that there have been some bonuses as high as $ 6000/acre.
Also, need guidance or the name of an Oil/Gas attorney regarding the following: After negotiation of a lease, the company cancelled the lease about 1 week after they received it. They are now refusing to pay the initial bonus even though the negotiated offer/proposal letter stated that the bonus would be issued after receipt of the executed lease. I see the process of negotiation and their acceptance of the revised terms and their revision of the Offer letter and Lease should be considered "consideration" and the bonus was an incentive to sign and return the lease, only. We fulfilled those terms, accepted the revised terms and returned the executed lease that has no mention of the initial bonus, only the possible 2nd bonus at the end of 3 yrs. Others who signed leases earlier did receive their bonuses but if the bonus check had not been issued at the time of the lease cancellation, they do not plan to issue it. I did receive confirmation from the landsman that the executed lease had been sent to the company that that the check would be issued within a few days. Instead, we got a cancellation and refusal to issue the bonus. Now, I know never to return the lease without receipt of the bonus but is there anything that can be done now, based on the above circumstances ? Any assistance would be appreciated.
There were to many red flags with that company . If I’m right, they had a dead line of Aug. 3rd by 4 pm. You as a mineral owner are the one holding the strings , not them. You need an oil and gas attorney to look at all letters and leases that you have from them. Send me friend request and I will give you somebody that might be able to help.
Hi. My wife was offered $1000/NMA in sections 87, 89 of block OW. Is this a reasonable bonus?low?high?strong textWe have no experience in Pecos County and would appreciate any advice. Thanks. strong text****strong text