Property description is; 29 5. Adams Beaty & Moulton. Tr#4. 8.54 acres 30 7 Adams Beaty & Moulton. Tr#4. 11.570 acres
This is on CR 2000 outside of Pearsall, Frio County Tx. ( Sand Hollow Rd)
I have been offered a proposal for a lease for Austin Chalk. Any info on price per acre would be appreciated.
Your property appears to be just north of the Stewart well - that came in very nicely according to what I have heard. Good luck on a lease and production. There are others on the list who have information to assist you.
I don't know - it varies so much. Let us know what you find out.
Connie Gail Beane said:
Thank you. I'm just curious about the price per acre in that area. Any ideas??
I’ve been offered $350 per acre. Just trying to get an idea if we this is a sweet offer or not. I’ll post if I learn anything new.
Connie Gail Beane said:
I've been offered $350 per acre. Just trying to get an idea if we this is a sweet offer or not. I'll post if I learn anything new.
I would not call it sweet, although it may be fair or market. The royalty you receive is also important as is the length of the lease. In other words, the entire package should be considered rather than just one element of it. These days landmen must abide by a strong code of ethics - that is good, but remember they represent the other party and the other party is their concern.
The length is three years. The offer came from the VP of the company. I have an attorney that is advising me. Just wanting to make sure everything is acceptable before signing on the dotted line.
Please call me at 432-770-8903. I have minerals near you. Tks jimmy whitley
Not sure I’m taking the Ricochet offer. It’s for three years, lease bonus is $350 per acre and they can drill, Austin Chalk, Buda or Eagle Ford if they so choose. I countered,but they won’t budge. I’m thinking I’ll pass this time around.
I think you should re-consider the offer. If you had more acreage then I think your position would be stronger. Your mineral rights will have to be pooled in order for you to participate in any well. The acreage you have is (I think) insufficient to stand on its own, (check that out - with an expert). Don't do what did - rejected the offer and then went back to them only to find they no longer had interest at any price!
Connie Gail Beane said:
Not sure I'm taking the Ricochet offer. It's for three years, lease bonus is $350 per acre and they can drill, Austin Chalk, Buda or Eagle Ford if they so choose. I countered,but they won't budge. I'm thinking I'll pass this time around.
Combined my family has 90 acres. I have written the VP with a couple of questions. He was the person that contacted me first. My attorney suggested I ask him directly. I’ll wait for his reply.
Connie, Jimmy Whitley here. I have studied the plats for the Stewart wells on the east and south sides of your 90 combined acres. these wells are 467' on either side, which is close enough to drain you, especially in the buda formation, which is most likely a naturally fractured zone like it is southeast of Pearsall. If Petty leases with Ricochet, then you can be assured they will drill along your west and north sides as close as they can. Those wells will enclose you, and there may never be another time to lease. Just my 2 cents worth. Like i said, the money is in the 25% and a well.
Connie - I think Jimmy gave you the best analysis of the situation - they can drain you or pay you. Geo
Jimmy Whitley said:
Connie, Jimmy Whitley here. I have studied the plats for the Stewart wells on the east and south sides of your 90 combined acres. these wells are 467' on either side, which is close enough to drain you, especially in the buda formation, which is most likely a naturally fractured zone like it is southeast of Pearsall. If Petty leases with Ricochet, then you can be assured they will drill along your west and north sides as close as they can. Those wells will enclose you, and there may never be another time to lease. Just my 2 cents worth. Like i said, the money is in the 25% and a well.