Thanks for the phone number. It is the one I got from the RR Commission site. At the least, IF things are on the up and up, I think we're just being low-balled with the lease offer (and will regret signing the lease down the line). At the worst, this isn't a legitimate outfit with a legitimate offer. I'm safe--not signing anything!
Sammie Jo said:
did you get the phone # for wilson oil? It's 936-327-2622.
Trust your gut, if it smells like a skunk, it's usually a skunk.
Better safe than sorry.
Just offhand, the signs on rigs around here that I have seen are Crimson, Apache, Petromax, and a few others, but none that say new horizons or wilson. I'll keep an eye out.
Not leased yet but in discussion with a company. Regarding the $1,400 bonus acre amount rumor - I heard it was more like $2,400 an acre about 7.5 miles southwest of Iola. I think we must run in the same circles; the farther south down Highway 39 you go, the larger the bonus amount gets. LOL
6th Generation Texan said:
Hi Captain, have you leased yet? I heard a rumor that some people were getting paid $1,400 an acre lease bonus in Grimes County (a local area attorney told a friend of mine that some leases were going that high). I don't know where in the county or even if it is true. I thought that was interesting and want my friend to ask more questions. Now that sounds llike a good pay day!
Captain Skittles said:
Thanks for responding, 6th. I'm under the same impression as you that the Eagle Ford Shale is moving our way; it's just a matter of time which equates to having patience, and patience, hopefully, will equate to more money in the long run, assuming we go through with this. Our land is near Singleton and we've been offered $300/acre for 3 year term; $200/acre for additional two years; 20% royalty. After reading all the information on this board, I don't believe we'll be signing up for more than a 3 year term and they'll have to do better on the bonus plus up the royalty to at least 25%. Hopefully we'll be able to come up with something mutually beneficial. If not - oh well. It wouldn't be the first time we passed up a lease.
6th Generation Texan said:
Grimes County is on a map on the Internet as being part of the Eagle Ford Shale play. The drilling is moving that way. I have heard of bonus payments of $200-$650. Royalty is anywhere between 20% and 25%. There should be more leasing and drilling activity within the next two years. The first people to lease got the lesser amounts, which is probably true everywhere.
Hi Captain, I haven’t leased either. I would love to get an offer of $2,400 an acre! Do you have any idea of what company/companies have offered this amount?
While I agree it would be great to get such a large amount per acre, personally I think it wiser to maybe consider less bonus money in exchange for some form of guarantee of drilling and having your acreage included in the unit pool. That way if Company its commercial level of minerals you will get a check on a regular basis and if the deal is done correctly, your share will more than make up the loss in bonus money.
After all the name of the game is to get production going on your land as soon as possible so you get checks (and good size ones) on an ongoing basis.
New Horizon Resources LLC P. O. Box 980064 Houston, TX 77098
They are filing recent oil and gas leases at the courthouse in Anderson, TX.
Carolyn Mathews said:
I've read the information posted by others on this Grimes County forum, but I haven't found the answer to a question I have. Last week my brother and I had a call from a landsman representing New Horizon Resources, LLC. He's offiering to lease the oil, gas, and mineral rights on some land we have in Grimes County. We have two concerns: First, what he's offering is lower than what I've seen mentioned on this forum, and second, we cannot locate New Horizon Resources on the internet nor is it listed as one of the current operators in Grimes County. (We did find a New Horizon Green Energy Resources, but that's not the same outfit.) There's no phone number or street address on the letter that accompanied the lease we were to sign--just a PO box number in Houston. Naturally, we are not signing anything at this point. We have a lot of homework to do first, and number one on the list is finding out something about New Horizon Resources. Does anyone know anything about the company?
It appears that New Horizons Resources has taken about 18 leases over the past 18 months in Grimes County. As you most likely already known a landman normally works with some undisclosed oil company for a percentage of 1 to 2% of any minerals extracted from the leases he is able to get signed up.
Down in the southern part of Grimes County two oil concerns have been real active in attempting "lease up" large continuing tracts...these companies are Za Za Energy and Halcon.
From what I have seen if the landman is working for Halcon you stand a far better chance they will actually drill in your area. They have a very long history of obtaining leases and then putting rigs into a leased area and drill the heck out of things. They want the production so at some point within 5 years or so they will sell their company and earn larger dollars.
It's always in the best interest of someone who owns mineral rights to lease to someone who will in fact drill within a reasonable time. That way the rights owner gets a check each quarter on the production.
I'd like to know what happened to the drilling in the city of iola in Grimes county. This nov coming, it will be 3 years since Petromax leased everyone's property in town. They were supposed to put in 4 wells, haven't seen anything happen yet. I got a letter from, I believe it was Southwestern, wanting to PURCHASE my mineral rights, for $225.00. That wasn't going to happen.
CML and Marlin got permits for some wells East of Iola. I would like to see the completion reports for the Webb, Scamardo, Wheaton Cattle Company 1, 2 & 3, Sutton #1, 2 & 3, and Texas Bar Ranch, Ltd. I have not had success in pulling them from the RRC web site. (I am not sure the Sutton 3 has been completed.)
When I put in the API# from the drilling permit, the RRC web site doesn't accept it. How much info has to be filled in on the online form to get these reports?
CML and Marlin got permits for some wells East of Iola. I would like to see the completion reports for the Webb, Scamardo, Wheaton Cattle Company 1, 2 & 3, Sutton #1, 2 & 3, and Texas Bar Ranch, Ltd. I have not had success in pulling them from the RRC web site. (I am not sure the Sutton 3 has been completed.)
When I put in the API# from the drilling permit, the RRC web site doesn't accept it. How much info has to be filled in on the online form to get these reports?
CML and Marlin got permits for some wells East of Iola. I would like to see the completion reports for the Webb, Scamardo, Wheaton Cattle Company 1, 2 & 3, Sutton #1, 2 & 3, and Texas Bar Ranch, Ltd. I have not had success in pulling them from the RRC web site. (I am not sure the Sutton 3 has been completed.)
When I put in the API# from the drilling permit, the RRC web site doesn't accept it. How much info has to be filled in on the online form to get these reports?