I own surface and minerals south wet of Ira, TX in the Sharon Ridge field.
I received a rare letter in the mail with an offer to purchase. It’s the first offer I have received for my abandoned well in the past 10 years and for a much higher price than ever before. Over $1000 / acre.
I know there is a wind play that comes within a mile of my spot, and I’ve heard the news of some horizontal work near Snyder, but nothing else is noticeable in public sources, online etc.
That’s a big area you described. Post the block and section or the abstract number you’re in and someone will be able to tell you if there are any new permits near you.
Check that Block. I think it must be 97 instead of 87. If that’s right RRC isn’t showing any recent activity anywhere close to Section 98.
Orland Oil & Gas who is now the operator on several 1800’ wells spread over the ten abstracts that make up that section apparently did a workover on some of those wells earlier this year and brought the combined production on everthing in that zone that hadn’t been plugged up from almost nothing to 1,900 barrels/month. But the combined number declined back to a 300 barrels/month with a couple of months.
Is Nature Acres’s offer for your minerals or your land, or both?
I think you’re right that they are speculators who mail out lots of unsolicited offers on land and also minerals. Their name was mentioned in another post about offers they made somewhere in East Texas.
Dusty,
You are correct Block 97
( I can’t type worth a crap anymore )
Our well was abandoned by the operator and RCC put an enforcement action against them in May.
It may be plugged by now. I’ll be out that way soon and will check on it.
I was hoping new windmills might be coming but the latest project missed us by about a mile.
I think the field is about done…and ours certainly is.
My dad bought it in the 50’s, drilled two wells and was the operator for a while, made him a bit of money for many years. Never huge but it paid for itself a few times over.
Nothing out there now but mesquite and cow patties. (How do I get paid for grazing rights? )
We own The mineral rights and Scurry county Texas. It’s section 485 block 97. We have an offer of $275 with 20% royalties with 3 years. Is this a fair offer?
From my experience, first offers are generally not their final offer. I prefer 25% royalty. If you have not leased before, it would be very wise to invest in a good oil and gas attorney to read the draft lease and suggest better wording. Draft leases are almost always in the operator favor and need significant changes to make it more fair to the mineral owner.
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