We have recently been receiving a lot of offers to purchase royalty rights in Reeves county....we leased out our cares earlier this year and our royalty is 25 percent....one such offer was for 600,000 for 133 mineral cares. Just curious why so many offers all of a sudden. Section 74 block 13, a-1879.
Any help/advice greatly appreciated
Stephen,
Apache has several permitted locations to the West/Southwest of your Section 74. Next door to your Section 74 Apache has a permitted location for an Exploratory Test Well in Section 60/Blk 13(API 389-35183:
Link to Approved Drilling Permit for well API 389-35183:
I find no spud notice or completion report at this time for this well.
GIS Map of Reeves County A-1879/Block 13/Section 74 and surrounding area:
RED CIRCLES AROUND WELLS ARE APACHE PERMITTED LOCATIONS
Clint Liles
Thanks Clint....does the offer sound worth taking?
Stephen,
I checked the Completion Report on a vertical well several miles to the S/W of your minerals and it came in at 43 BOPD/592,000 MCF gas per day. Then I went east of your minerals several miles and checked the Completion Report on Horizontal Well API 389-34182 in Block C-10. It came in at 553 BOPD/723,000 MCF per day.
http://webapps.rrc.texas.gov/CMPL/viewPdfReportFormAction.do?method...
This Horizontal well is producing from the Wolfbone(Trend Area) formation. There are possibly other producing formations below this production that can be drilled into at a later date. I don't see any production nearby your minerals to check completions or production. Apache possibly has completed the well(35183 Exploratory Test Well) in Section 60/Block 13 but I find no info on it.
To answer your question:No I wouldn't accept that offer. If they were to triple that offer I would very seriously consider accepting.
Clint Liles
Is this anywhere near the permian basin
Clint,any updates on sec 74 bulk 13 A-1879?
