I would like any information regarding Section 15 and 16, Blk C-2 PSL in Pecos County currently leased to Brigham. Any activity there or closeby; any permits pulled or other activity whatsoever? I would appreciate any information provided.
Diamondback is in the process of acquiring all of Brigham's leasehold in Pecos and Reeves Counties.
Who all is receiving unsolicited offers from Platform Energy, LLC?
I spoke to them and they want to buy, not lease. While not interested in selling, i inquired as to what they were paying. Told it was abstract by abstract as determined by their geologist. Asked what they showed my interest to be, and was told that they did not have that as they were not expecting my call.
I welcome other observations.
Hi there. Does anyone know what the going 3 year lease bonus rate for the Pecos County Irrigated Lands - Block 2?
My mom owns mineral interest in Pecos County at Section 77, Block 194 of Survey A-4361. She is inquiring if mineral owners in that area have received offers to waive their surface rights to a Solar Company from CA.
What surface rights does she have as a mineral owner, unless she owns the surface as well?
If she only owns only minerals, why would she agree to waive rights to a "solar company from California, as she likely has rights to ingress and egress at all times for purpose of mining, drilling, and exploring for minerals and it looks to me like this would negatively impact her ability to allow the mineral interest to be fully developed.
Maybe this is just another good idea from California but it sure does not sound to me like it is good for your family.
Mr. Archer,
You are correct that she has the rights to the ingress and egress at all times. She and my uncle have repeatedly told them no they would not waive their rights, but the representatives of the company have sent papers to them by Fedex and sent people to see them (my mom is outside of Corpus and my uncle is in Santa Fe). My mom is concerned about what they are doing and what her rights. It is definitely not a good idea and she just wants to protect her rights.
Ms. Williams, looks like activity several miles NE, NW, SW and SE of your tract. One dry hole in your abstract. Maybe someday your tract will attract interest and maybe something is under it. I would be very hesitant to do anything to limit or modify your rights but experts might have a different conclusion.
These high pressure tactics are disturbing. It seems that the solar company has struck a deal with the surface owner (or possibly acquired the surface) to install a solar facility. As you know, minerals are dominant over surface in Texas. Other mineral owners may have agreed to waive surface rights. But any one mineral owner, even of a very small fractional interest, is entitled to access the minerals for oil and gas development. You do not want to impede future mineral development. That they are sending documents by fedex and sending representatives to their homes is a reflection of both the value of this project and that they sense your relatives may give way and sign just to get rid of the hassle. You should tell the company that all correspondence and documentation needs to go through a qualified oil and gas attorney who is only representing your family to ensure your protections. Also, if your family insists on agreeing, then they should be paid adequate consideration for the surface waiver and absolutely have the document reviewed by an attorney. I have spoken with some elderly mineral owners who have signed unfavorable agreements, as one put it "just to get them to stop talking, It was too much to bear to keep listening them." It is difficult for some people to outright tell these corporate reps to never contact them again out of concern about appearing rude. The solar company is in business to make money and even if they tell you that this will not hurt your minerals, the only thing that matters is the terms in the legal document.
I fully agree with what is being said by TennisDaze.
I would not worry about offending these predators.
Its like when I get a call about "extending my car warranty" and they ask me what I will do if it breaks down. Answer: I will pay to fix it or buy another!
I have received several offers to sell my minerals in Sec 19, Block 8. Can someone please tell me what the going rate is?
Thanks, Janet
The going rate that legitimate buyers will pay in Section 19 is a function of the underlying lease. If you are not leased and have good title, there are buyers who will pay for the geologic potential in the section. It takes time and patience to get a fair price. It is a good place to have minerals. No need to jump at the fist offer.
Well will be drilled into the Wolfcamp formation and will have a 2-mile long horizontal wellbore. More economic to drill 2 mile horizontal well. De you own only surface or only minerals or both surface and minerals?
The name is Jagged Peak. If you are now leasing, look at all the advice about the written lease terms.
Jagged Peak is an awesome company!!!!!
Does anyone know what the going bonus rate is in Pecos County? Specifically Sec. 35, Blk 49 T9, it's in western Pecos north of I-10. Any info is much appreciated.
James, I have asked that same question on multiple tracts in multiple counties, multiple times and frankly no one has ever responded. I think you might do better to share what you were offered and let people comment on that.
James, roughly $1500 - $2000 per nma depending on oil co.
I would insist on a 25% cost free royalty. I defer to experts on this site to determine whether that is anywhere close to market at $1,500 per net mineral acre but I suspect it is light.
The broker offered me $3,500 per acre, 1/4th royalty for a 3/2, which I kindly declined the 2 year kicker and he kindly recanted. My riders call for free royalty, vertical and horizontal pugh, etc. I asked for a better bonus and he said he'd contact the client.