I have 66 acres of mineral rights in Helena bounded by 80 and 81 and in the city limits. I have had an offer of $3500 per acre by a company although the going rate seems to be well above $8,000. Can any one contribute to what is going on in the Helena area as I live in the Atlanta area.
(Edited by Admin - Mr. Elmore, this isn't the place to simply gain new business. Please keep soliciting out of your replies)
Hey Ted, We have 55 acres expiring in a few weeks & have only been offered $1500 an acre to renew. We're about 10 miles south of Helena. We have another 1237 acres also, but that's been leased since 2005 & won't be up till next year. I have been told that we are a little south of where the "Hot Spot" and primary area of interest is right now. Sounds like you might just be where they're concentrating their efforts right now. Would you mind sharing with me who made the offer? I also have a smaller tract in Bee & DeWitt counties also. Thanks & I'll let you know if I hear anything new.
The area around Helena is absolutely going gangbusters. ConocoPhillips, using Burlington Resources, has leased up a lot of the land in the immediate area. They seem to have concentrated on that strip of land in the overpressure oil or condensate portion of the play, which runs right through Helena. Go onto the Texas RRC website, do a W1 search for Burlington Resources (Operator number 109333) wells in Karnes County, and you will no doubt find lots and lots of wells being drilled all around you. Bordovsky was their first well in the region, but they have been extremely active here in the last year and a half. EOG is active a little further north, and Pioneer, Murphy Oil, and others are in the area. The wells near Helena which have been drilled by Burlington Resources are producing very nicely. You can do Production Report Queries on the RRC website if you care to look at wells close to your land. You are probably very close to some of the Ruckman or Genelle or Edith Gray wells - all nice producers of condensate plus gas. Good luck with your lease and although I am no expert at all I think you should concentrate more on the royalty percentage than the lease signing bonus. You are in a better position having not leased early in the game. Best of luck.
Hi Jon, The offer was from US Shale Energy, LLC in San Antonio and the contact is Cindy Clark 1/210/826/5269. My deed states that it is non-participatory in bonus lease but I share the half the royalty. My family signed a lease in 2009 that is up in June and they are attempting to extend the lease for two years and going from 0.20 to 25% royalty during the lease period. Any body have any experience with similar circumstances? God bless and good luck.
Jon L. Wasserman said:
Hey Ted, We have 55 acres expiring in a few weeks & have only been offered $1500 an acre to renew. We're about 10 miles south of Helena. We have another 1237 acres also, but that's been leased since 2005 & won't be up till next year. I have been told that we are a little south of where the "Hot Spot" and primary area of interest is right now. Sounds like you might just be where they're concentrating their efforts right now. Would you mind sharing with me who made the offer? I also have a smaller tract in Bee & DeWitt counties also. Thanks & I'll let you know if I hear anything new.