hello--am located in Kentucky, trying to get educated in the area of SECTION 31, BLOCK #2, located in reeves cty, next to Pecos river. lol lol WOLF has sent me a contract, I question. have received 2 other offers ranging from 11,000 to 14,ooo dollars per acre. have 79 acres with me owning mineral rights, 85 acres other people have interest, and another 27 acres not addressed in offer. own all surface rights.
any assistance would be appreciated
paul
Hi Paul, We have an interest in Block 2, Sect 31 also. (abst 1054). If your interest is adjacent to the river, ours is at the other end of the section. We are leased to Anadarko and have one producing well that was put in earlier this year. Are your minerals leased? We are thinking there might be a couple more wells that will extend up to your end of the sect, since that is what they did in the adjacent sect.
craig-- think Wolf is trying to screw me. SITUATION FOLLOWS; SENT ME A CONTRACT TO SIGN; HOWEVER THERE ARE 34 INDIVIDUALS LISTED IN LOVING CTY, TX ON THE OTHER SIDE OF PECOS, MY NAME IS NOT LISTED, BUT AM REQUIRED TO SIGN. ASSUME THEY ARE GOING TO UTILIZE OLD WELL CASING, AND BORE UNDER RIVER TO TAP INTO OIL/GAS UNDER MY 79 ACRES LOCATED IN THE NECK OF AFOREMENTIONED RIVER. HAVE SOMEWHERE BETWEN 1/2 AND 1 MILE OF RIVER FRONTAGE. RATIONALE FOR THE LOCATION AND FRONTAGE IS THAT "ANDERSON RANCH" SOME TIMES SEND ME A CHECH FOR $39.00 A YEAR RIGHTS TO WATER CATTLE. NEVER BEEN THEIR.
THANKS FOR YOUR ATTENTION IN OUR SITUATION
PAUL
Is the contract to purchase the the mineral rights? Is there a mineral lease that is held by production? You have a pretty good size interest. I would recommend consulting an attorney to help you protect your interest. We have used Wade Caldwell. He is a member of this forum.
HI Paul, I also have a much smaller interest in block 2. This summer I was inundated with purchase offers. I turned them down and stayed with Anadarko with my lease. Without looking it up I believe my last offer was $15K per acre. With such a large interest I believe you need representation. I live in St. Louis and I have little knowledge of oil & gas. But if it is my opportunity, I would hire a professional with solid references. I hope this all works out for you. Jim
really appreciate response --marian (wife) has only been able to contact this lady working for wade
GOT ON THIS--- web group trying to contact him. he is a very busy individual
paul
Section 31, Block 2 has an odd shape due to the river. It may be advantageous for a company to create a unit which includes your acreage with the river plus the acreage in Loving County for a horizontal well. What is the title of the contract? Is it an oil and gas lease or declaration of Pooled Unit or a Production Sharing Agreement, all of which would pertain to an oil well. Or is it a pipeline or other right-of-way agreement? Is it a surface use agreement because an oil company wants to drill from your acreage, but all the production will come from minerals in Loving County? Are your minerals under lease to Wolf or another company? Most leases in your section are to Anadarko, SWEPI, Cimarex and Bellomy.
tennis-- in analyzing my grandmothers will; which she gave 1/2 interest in acreage in question, to my mother "jane tibbits" and the other half to her son "sam marmaduke". upon my mothers death in 1991 the 1/2 share of ownership became mine as am an only child, that said; lets get down to the bottom-line: there are two tracts. tract one NW1/4 of subdivision 7 all oil and gas and tract 2. to include an undivided 1/2 interest in oil and gas of subdivisions no's-- 8,9,10,11,13,14,15,16,17, dated September 14, 1978. total acres is 390.93
remuda operating co., I think was acquired by wolf; however, have never received any notification of such. not listed as a owner of oil/gas, only want my signature and will pay me $10.00 dollars for my time. yes, $10.00 dollars, think it is funny, my wife called and the lady verified the amount.
will call wade caldwell 11/7/16
paul
It is not clear how many net mineral acres and net surface acres you own without seeing the history of deeds over the years. You may have at least 1/2 of what your grandmother owned, but she may have only owned a fraction rather than 100%. If your minerals were under lease to Remuda and there has been continuing production under the lease, then you not get a new leade. Traditionally in Texas, leases and other agreements only cure $10 and other consideration rather than the full payment. If you own some portion if the surface, you will be entitled to some damages for its use. Ask the landman for the title opinion relating to your minerals and surface or the title take-off he is using. This will be good information to give to an attorney.
thanks, have called wade and told him to handle it like it was his own.
informed him, did not care if associate analyzed data; he must oversee.
paul