Mine was for Harness also. I did not ask for a higher price. From my oil industry friends, that is the fair and usual price. I did not add anything for damages besides the one in the offer. Crop damage seems unlikely since they are trying to get this together to do it just as soon as the farmers that plant and harvest wheat are done and before cotton. This round is 165 square miles in Dawson, Lynn and Terry Counties.
I took mine to James Craig in Tahoka last year . I have wells, pipe lines an drip. I wanted to be sure.
I talked to a guy thats in oil and gas out of Houston and he said $50/acre is the middle, $75 is high. He spoke highly of Dawson, said they are the best, that they use them for their deals, so thats good. don't want some yahoo drinking beer, smoking cigarettes, and blowing s&## up.
Does anybody know of any leasing activity around Mound Lake (Lynn & Terry County border)? We had a lease with Raw Oil but it has expired. I believe Dawson shot seismic there several years ago.
I just received a call from Apache oil that they were exercising the two year extension to the three year original lease that expires in December. My minerals are in the far southeast corner of Lynn county, southeast of Draw.
good info you could get a well watch the rrc site or Clint Lies for any action in and around you talk to your lease neighbor it will keep you in the oil spirit
Hi Richard. Yes, you are correct that Dawson shot seismic in and around that area of Mound Lake a few years ago, maybe 2010 or 2011, but I never heard anything more than that. At that time I had leased the mineral rights that were in my interest in the Mound Lake area to a company out of Midland named Shaw Interests, and that company did not renew the lease. I don't know how or why they made their decision not to extend the lease.
Update on Shell leases for sale in Terry and Lynn counties:
I spoke with Shell landman today who's responsible for that area, and he said they're still trying to sell all those leases as one block. He said after the poor results on the well in Lynn county (lots of water, little oil), they decided they'd focus their spending on the Chesapeake leases they'd bought in Reeves county and area around that (where there are proven results, not guesses)...hence selling the speculative leases in Terry and Lynn.
so shell leased over 200,000 acres, drilled a hole to see if there was oil there...there wasn't so decided to move on...seems like they could have saved $40,000,000 by leasing 20 acres, drilling a hole to check it, and then move on. I get it that 40ml is a drop in the bucket for shell, but money is money and in my opinion they wasted money and our time. happy trails shell
Paige, I just thought of something. Do you find it strange that an employee of Shell would talk down about something they are trying to sell? If I were to sell my car I wouldn’t run an add saying piece of crap car for sale would you?
Have most people finally been paid their lease bonuses that were outstanding when Shell shut down it's leasing program - through Threshold and others?
HI Josh. Since Shell is a publicly owned and publicly traded company, then they have an obligation to report correct information to investors and potential investors. Since the financial meltdown of 2008, the SEC is really going after companies that might "overstate" the value of their assets.
Re: Completion Reports on RRC website - timeline
According to interview with RR Cmsnr. Christi Craddick about upgrading the RRC website and IT systems (March issue of PB Oil & Gas magazine - http://read.uberflip.com/i/265837), on pg. 72 she said that this year they are 11,000 reports (or 4 months) behind, as opposed to 2013 when they were 14,000 reports (6 months) behind. Online filing of reports and new systems should improve the backlog dramatically.
By the way, it's a free subscription, and I read it cover-to-cover each month - lots to learn! PB Oil & Gas Magazine
I cannot confirm but heard today the raw well south west of Tahoka was flowing 700 barrels.
That the Tubbs lease?
Not the tubbs well is located 8 miles southwest of Tahoka. Went by the tubs well today. Was logging for two days this week drilled a water well Wednesday and today there was sand trucks at the site.
Another new app to drill near the Kendall II. Its the Great House Lease by Raw
I just registered for this - anyone else attending?
Drilling Down: Part III - Economic Growth & Challenges
Thursday, June 26, 2014
Overton Hotel & Conference Center, 2322 Mac Davis Lane, Lubbock
Registration begins at 7:45 a.m.
Conference is from 8:15 a.m. - 1:30 p.m.
Join us for a half-day conference where we will take a closer look at Lubbock's future in the oil and gas industry. Hear from oil and gas industry leaders regarding probable economic growth and challenges in West Texas.
$40 for an individual seat
$300 for a table of eight
Presented by the Lubbock Economic Development Alliance, the Permian Basin Petroleum Association and Texas Tech University.
I would love to go but we are in the process of selling our home and moving to another. I have some questions I would like to ask you later about what is happening in Martin County. We have has several new offers that are a lot more than previous ones . I have not kept up with this board, but I have not noticed much in Terry or Lynn Counties.
There is also a NARO Texas convention happening June 11 - 13th in Montgomery, TX. If anyone is attending either of these events, if you can provide a synopsis I would love to hear about them.