I have received an offer to sell some mineral rights in Williams County. The property is: Section 1, Township 154N, Range 95W We currently receive a small amount of income off two wells operated by XTO on this property. The offer was for $4,800 net mineral acre. It seems low and makes me think there are possibly new wells going in. Does anyone have any insight. I appreciate any recommendations or observations on what is going on in the area.
Your hunch was right. XTO just filed a bunch of new permits for section 1-154N-95W in November of 2018. https://www.dmr.nd.gov/OaGIMS/viewer.htm. Sometimes the viewer doesn’t work, but you can get a list of permits from the state website. Here they are.
| API# | Operator | County | Legal | Lease | Well# | Date Issued | Permitted Depth | Permit TVD | Images | Doc | Operator Alias | Objective Horizon |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 33-105-05051 | XTO ENERGY INC. | Williams | S:1, T:154N, R:95W | TOM STATE | '34X-1CXD | 11/16/2018 | No | link | XTO ENERGY INC. | UNKNOWN | ||
| 33-105-05052 | XTO ENERGY INC. | Williams | S:1, T:154N, R:95W | TOM STATE | '34X-1HXE | 11/16/2018 | No | link | XTO ENERGY INC. | UNKNOWN | ||
| 33-105-05053 | XTO ENERGY INC. | Williams | S:1, T:154N, R:95W | TOM STATE | '34X-1B | 11/16/2018 | No | link | XTO ENERGY INC. | UNKNOWN | ||
| 33-105-05054 | XTO ENERGY INC. | Williams | S:1, T:154N, R:95W | TOM STATE | '34X-1E2 | 11/16/2018 | No | link | XTO ENERGY INC. | UNKNOWN | ||
| 33-105-05055 | XTO ENERGY INC. | Williams | S:1, T:154N, R:95W | TOM STATE | '34X-1A | 11/16/2018 | No | link | XTO ENERGY INC. | UNKNOWN | ||
| 33-105-05056 | XTO ENERGY INC. | Williams | S:1, T:154N, R:95W | TOM STATE | '34X-1EXH | 11/16/2018 | No | link | XTO ENERGY INC. | UNKNOWN |
Good morning,
You have some good instincts. XTO has six recent permits for what looks like five net wells in this unit. They are on confidential status, so can’t really get more information at this juncture. I’ll note that with the pace of XTO’s drilling, there is no real timeline to development even though the acreage is permitted. Its likely just mineral buyers chasing permits. Depending on what you are leased at, I bet you could do better than $4800/ac.
Is there a way to tell if these new well permits have been drilled? I can’t fine any information.
All the spud dates are more or less the same, that is when they set the surface casing on all of the wells. They are likely just now finishing up the drilling of the laterals. 270 or so days spud to sales is about right. Which means producing around Xmas.
Welcome to Exxon Mobil
Thanks for the insight. We already have two older wells with XTO on this property which are low producers. Hopefully these will be much greater!