And make sure that you have a gas and oil attorney look over everything before you sign anything.
Ty Wood
Tom Reese
or Cotton from Snyder
These are names of local attorneys
I have not signed a lease, and plan on risking the small bonus offer for a much bigger payout later. If the cline shale is anywhere near the eagle ford shale we are looking at up to or over $10,000 an acre. If it turns out no good well we didn’t lose to much. I know a lot of people look at it like free money they didn,t have but look at as if you inherited a new cadillac but did not drive and wanted to sell it you would not sell it for pennies on the dollar.
Just discovered Devon has permited a well on the Mitchell/ Nolan county line under some royalty interest my family owns. I will keep a close eye on it and inform here as it develops. Lets cross our fingers. Devon is a good company and one of the first to do horizontal shale wells. Love this business.
Mickie,We have a neighbor/good friend who leased his land in the last 10 days for 850/25%, a good, solid 3/2 lease with a company named Eastern Shelf. Don't know anything about them, they may be flippers, but " if you have a good lease, a good lawyer, and the RRC number in your speed dial, you should be fine" (the gospel according to Bill Everett, love of my life) I don't want to put my neighbor's name on here, but if you are interested let me know, i will reply to your wall and get you in touch with him, or try to find out his contact person with Eastern Shelf. He and his brothers leased about 1,200 non-contiguous acres. However, you may be wanting to hold out a while, just wanted you to know the latest amount we have heard about. Go get 'em!
Toni the Wallace 1H is the well I am talking about, and no these are not the minerals I was talking about with the lease offer. We only have a royalty interest in this well so no leasing rights. I live in the DFW area and do not get out there very often so if you get by the well site please let me know what is going on.
Kenneth the well is 15 miles south of I 20 on county line.
I will be happy to do so. Do you know if there is a location staked yet, or just the permit filed?
We are already leased, but got a phone call yesterday from Quanah wanting our land.
Mickie, I drove down south yesterday to look for your well location. After turning off 208 onto CR 345 and heading east, the road winds around through some beautiful ranch country, lots of cedars and rolling terrain. I went 5 miles to a gate entrance but it was closed so I didn’t go in. That gate only had a cattle guard which didn’t look real heavy duty, and I didn’t see any newly constructed road or gate beside the cattle guard where they might move in big equipment, so it kind of made me think they haven’t built a location. However, I think the site would be 2 or 3 more miles past the cattle guard, and the land falls off toward the north where you can’t really see very good, so i was not able to gather much information. Of course they could have used another entrance, and not the directions on the drilling permit.
One highlight of the venture, I found a pretty purple wildflower in the bar ditches that we don’t have in our part of the county, so i brought some home for seed.
Hi Ginger. We are leased also, but I am curious what kind of bonus and % Quanah was offering? Thanks for any info.
I didn’t go into any detail with the landman as it was a pointless. All our neighbors are leased for as far around as I know-- most at $850+ and 25%.
Recieved another phone call offer today. Didn,t pay much attention to the landman when he offered $300 and 20%. This was for some minerals north of Loraine on Mitchell/ Scurry county line.
Quanah is paying about $600 and 24%, due to the prices of Oil… If it continues to drop bonuses may go even lower.
Only new permit application this week for Mitchell County is a 4,000 ft new vertical well by Energen
Where is it in Mitchell County?
Thank you for the update on well permits Toni, I appreciate it!
Will try to look at the permits every week and post an update.
Rebecca I can not locate any such permits, searched a year back. Let me know if you find further.
I will, this I hear from Inmans who spoke with someone from either Devon or Linoln Land…
will let everyone know if for sure, or just speculation again.
The one this week (I wrote about below) is 11 mi NW of C City
There were 4 others filed by Energen this month, 2 of which show they have been approved:
Poor Farm-C: 13 mi NW of C City
HD Brennand B: 12 mi NW of C City
North Westbrook Unit: 10 mi NW of C City
North Westbrook Unit: 10 mi NW of C City
These all were permitted for 4,000 ft/vertical wells.
I think Energen has a pretty large existing field there.