I have recently been contacted by a company requesting I sign an exception to spacing "required by Statewide Rule 37 Lease Line exception for the Sprayberry Trend Area Field" for them to drill 2 horizontal wells: One in Sec. 8, Blk M, TCRR.Co. Survey and the other in Sec. 12, Blk H, L&SVV RR. Co. Survey. I have the right to protest but see no reason to do so. They have offered $4000.00 per nma bonus...3-yrs. paid up and a 25% royalty. Does anyone else have comparative offers in this area? Is this a good deal, bad deal, or otherwise? Thanks in advance for any information.
I apparently have mineral interests In Reagan County and have received an offer. But I have no record of any deed there, although I do own in Upton and a number of others. Can anyone recommend a local landman who can do a quick run for me?
Andy,
You probably already know thiat, but... before hiring a landman, I'd try and get the broker who called you to give as much info as possible. Often times, I would give all my title to a mineral owner if I thought it would help them decide to lease with me. Let him know that you own minerals all over and that you need the information for your land file. Just a thought. Rick Rowe
Thanks Rick! I was kind of hoping to have a better idea of what I did own before I started talking with this outfit. But I may go ahead anyway.
By the way, anyone been approached by or heard of NorthPoint Mineral Group?
I recently received a substantial 5-figure offer for my 1.5 mineral acre interest in the NE quadrant of A-300. There is current one well there that, because it is part of a pool, has never provided much income (I'm only receiving income from minerals down to 7800'). An offer this large for my interest makes me think there could be some big money down the road in this area, and that I should hang onto it. Should I take the money and run, or are exploration companies starting to take a serious look at this part of this abstract?
It is flanked to the east and west by Hz activity, permits and a few producers. It is within Pioneer's Merchant Unit, so chances are high that it will eventually be developed with Hz wells. It is in an area considered by many to be really good (I'm just a landman). My advice: If you don't need the money, don't sell. If you do sell, test the market to get the best price possible. (Also, selling isn't the worst thing.)
Selling 1.5nma is sometimes hard. Big $ groups often only spend time on larger deals. If you have good title to provide them though, I don't think they would stick their nose up at this acreage. Good luck. (you will probably get offers on your acreage just by posting what you did here). RR
I have mineral interest in Reagan. A part of 8 vertical producing wells. Are we seeing more hz activity???
My family owns 2.1665% overriding royalty interest in 1,040 acres in Reagan County. We have been approached again about selling our orri. There were 2 wells drilled, 1 in each Section, back in the '70s or '80s. Best I can tell, both were dry holes. There are multiple producing wells to the north and west of our Sections. The Sections are in University Lands.
There is no doubt, this guy knows more than we do. We are trying to figure out if there is any activity going on in the near future.
I can elaborate more specifically in a pm or email.
Thanks
Doug
Comment by Ronnie Maxwell on February 13, 2017 at 9:21pmDelete Comment
Clint, Daughter and Son n Law have mineral rights to 162.168 acres in Reagan county. Section2 Blk "o" Abstract 931,GS&Sf Rwy SW/4 Sec no 2 Block "o". Any activity close or anything pending you maybe aware of?
Close to St. Lawerance. Thanks Clint.
Comment by Frederick E Rowe on February 14, 2017 at 8:29am
Ronnie, your daughter and son in law have a producing well in their section which is likely holding their leasehold rights by production. It is also right next to Apache's "SRH North" lease with lots of Hz activity. Your son in law and daughter are in a good area. RR
UPdate: I believe the producing well is no longer in production,not 100% sure of this. Where do we stand now and is the outlook still good?
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Good Morning, The well is now plugged. So,does that free this up now? Any activity pending in area.