Thank you Buzz & Sarah. I will post again if we take the offer & let everyone know what we got.
Very interesting presentation by BHP Billiton (owner of Petrohawk) Later – Buzz
http://www.bhpbilliton.com/home/investors/reports/Documents/2012/12…
Has anyone heard of any action in Section 44 Block 57 Township 3 Abstract 3036 and Subdivision 46 block 57 Township 3 abstract 3035 Thanks JW
I was talking to rep/employee of Clayton Williams Energy…(we have several sections under lease with them), they have about 65 wells in Reeves County, are planning to drill at the rate of 100 per year for the next two years…If they have good production expect them to drill the max of 4 wells per section (TX regs restrict wells on our area to 160 acres per).
I believe Sarah’s math is wrong. My calculations, using her numbers, is $3.75 million per acre to mineral owner. The recent Eagle O&G presentation shows over 200 Million barrels per section. I believe the 20% recovery is a little high for current technology. But future generations may realize benefit of future technology.
Steve
Opps, I reviewed my spreadsheet and see I used $480 per barrel.
Steve
You share with the State of Texas whether you have PSL or not, it’s called production and severance taxes.
Are the production and severance taxes taken from the gross output and provided by the driller or from the owners individual royalties?
Thanks for your comments.
When you speak of NW of Pecos, I’m guessing you mean CITY of Pecos in Reeves Co since we are in the Reeves Co section, correct? NOT Pecos Co. my land is actually SW of Pecos, so it is hard for me to gauge what a fair price would be. I need help quickly, as I have an offer to BUY. Not sure what to do. Don’t want to sell really, but… & the offer seems pretty low. Esp to just permanently lose all interest. PLEASE HELP! I need to make a decision soon.
Thanks everyone!
Firegirl614 - I own some mineral interests in SW pecos - send me a message and I can tell you what my experience has been. I also have a video on this web site that might be able to help you out - http://youtu.be/t4YIwFivoEY
Sarah…
our family montra is ‘never sell the land’…we’ve waited 80 years for this.
the other montra is ‘in-laws are outlaws’ but that’s another story (ha, ha)…
We never owned the land, just minerals, but it’s the same, Do Not Sell. But do let those nice oil companies pay a royalty on you minerals as they bring them out. Sarah
William-do you still use the landman who says 10x the offer is fair? If so would you mind giving me his name & contact info. I sure could use a good landman to help me get a good & fair price.
Oh & ditto what Scotsy said. That would be nice to have some leverage at least.
Scotsy…i’d give you his name but he’s retired now and really isn’t tuned in the current situation…we call him sometimes when we have other questions. Interestingly, most of the questions we have asked him over the years I find I can now get good answers and some instances better answers on this blog… Landman are really used car salesmen…they might be honest but in the end they have to lookout for themselves first.
Hello all. Does anyone know if the pooling extends across sections, or if it just pertains to the section that the well is in. Particularly, there is a new permit for the southwest corner of section 70. Our family’s mineral rights are in section 69 - so you can see why I’m asking! Many thanks in advance for your comments.
Cynthia Ann – FWIW, I’m 99.9% certain pooling my very well extend into the adjacent section(s). Later – Buzz
Buzz is correct.
Thanks Sarah!. I know, my cousin & I after learning alot more, were saying, “Why would anyone EVER sell.” I’m kind of in a weird circumstance though and could use the money, but if that is the potential then yeah, the sell offer was WAY too low. Maybe I can talk him into just buying half or so. AND at better than the orig $425/acre. Then keep the rest for long term.
Buzz or anyone else who might know? But I know Buzz will know! Any action 32 miles NW of Pecos 11.7 miles southwest of Orla. I appreciate your Information on Petrohawk and BHP