Hi, I have had a couple offers for mineral interests in the following and would like info on what is fair in terms of agreements. Also, is anyone drilling nearby?
1. SW/4SW/4 of Section 15, Blk 59, H&TC RR. Co. Survey, Reeves County
2. Section 18, Block 49, T8, T&P Ry. Co. Survey, Reeves County
Any help would be appreciated. Thanks.
Robert,
Reeves County/Block 59/Section 15. Directly next door to the north is a horizontal well(API # 389-34062) that was drilled in March 2014 by Energen Resources Corp.
No completion report found.
Drilling permit for well # 34062:
GIS Map of Reeves County Block 59/Section 15:
Thanks, Clint. Any idea on fair rates?
Clint Liles said:
Robert,
Reeves County/Block 59/Section 15. Directly next door to the north is a horizontal well(API # 389-34062) that was drilled in March 2014 by Energen Resources Corp.
No completion report found.
Drilling permit for well # 34062:
http://webapps2.rrc.state.tx.us/EWA/drillingPermitDetailAction.do?m...
GIS Map of Reeves County Block 59/Section 15:
Clint Liles
Robert,
Reeves County Block 49/T8/Section 18. I see no activity in the area.
As far as fair rates for Section 15 I have no idea. Possibly some of the other Reeves County Group Members can give you some fair numbers.
GIS Map of Reeves County Block 49/T8/Section 18:
Thanks again for your info.
Clint Liles said:
Robert,
Are the offers to lease or purchase? Also, the number of net mineral acres in each tract might factor into things.
Robert, sending you two pictures. Picture one shows your BLK 49/SEC18 with the red marker. The two yellow markers east and west of you leased for $1,500. The blue square northwest of you I own and am presently negotiating a lease for 2,750/nma. Picture 2, your BLK 59/SEC 15 shows a yellow marker to the north, BLK 56/SEC 17-18 those leased for $3,000/nma. If I were you, I’d ask for at least $4,000/nma for a three year primary term, no extensions, and go from there. But hopefully that gives you an idea of what to expect. I’m sure there have been other leases in those areas for more and some for less. Think I loaded the pictures backwards, but you’ll see what I’m saying, I hope! Linton 1674-IMAG1099.jpg (340 KB) 1675-IMAG1098.jpg (408 KB)
Both. I own 2 of 40 acres on Section 15; I own 5 of 100 acres in Section 18.
Marcus T said:
Robert,
Are the offers to lease or purchase? Also, the number of net mineral acres in each tract might factor into things.
Thanks, Linton!
Linton Tomlin said:
Robert, sending you two pictures. Picture one shows your BLK 49/SEC18 with the red marker. The two yellow markers east and west of you leased for $1,500. The blue square northwest of you I own and am presently negotiating a lease for 2,750/nma. Picture 2, your BLK 59/SEC 15 shows a yellow marker to the north, BLK 56/SEC 17-18 those leased for $3,000/nma. If I were you, I'd ask for at least $4,000/nma for a three year primary term, no extensions, and go from there. But hopefully that gives you an idea of what to expect. I'm sure there have been other leases in those areas for more and some for less. Think I loaded the pictures backwards, but you'll see what I'm saying, I hope! Linton
You’re welcome, Robert. I try to put numbers on my map to help everyone in negotiations because I feel like mineral owners are not getting what they should be in this area, and it helps everyone to see. So if you ever decide to share your numbers, let me know and I’ll make a note of them. Linton
Robert,
I own the 240 acres in the NW part of Section 18, but have no minerals, just the surface. I have had Patriot Resources do 2 easements down the west side if this section and they also own a 200 acre parcel in the SW part of this section. Give them a call in the Midland office.
Ok. Thanks, Mike.
Mike Miller said:
Robert,
I own the 240 acres in the NW part of Section 18, but have no minerals, just the surface. I have had Patriot Resources do 2 easements down the west side if this section and they also own a 200 acre parcel in the SW part of this section. Give them a call in the Midland office.
Linton Tomlin said:
Robert, sending you two pictures. Picture one shows your BLK 49/SEC18 with the red marker. The two yellow markers east and west of you leased for $1,500. The blue square northwest of you I own and am presently negotiating a lease for 2,750/nma. Picture 2, your BLK 59/SEC 15 shows a yellow marker to the north, BLK 56/SEC 17-18 those leased for $3,000/nma. If I were you, I'd ask for at least $4,000/nma for a three year primary term, no extensions, and go from there. But hopefully that gives you an idea of what to expect. I'm sure there have been other leases in those areas for more and some for less. Think I loaded the pictures backwards, but you'll see what I'm saying, I hope! Linton
This has been a year ago, has there been any change on prices? My family has Blk 49 T-8 All of section 2, 10, 22 and half of 28. Can you explain how a bonus works? Do you get money for all the acreage leased or just the few acres they might drill on?
