May 23, 2016
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
in reference to your report on the South Mitre 2 unit, what does this mean?
Thanks,
Randy Eiland
r. eiland,
A horizontal well with a 9,994' lateral is to be started in Section 21 and go through Section 20. They are getting closer to your Section 25. Be patient.
Clint Liles
Clint,
Resolute is drilling a well on a 20 acre property that belongs to my wife and her family located in Section 21 Block 2, and I believe your plat map is the same that we have in our files, sent by Resolute back in early Feb. I was just wondering how to interpret the documents in your earlier post. The family also own a small royalty interest in a portion of Section 25 that their great grandfather reserved when he sold that parcel to Grisham-Hunter Corporation in 1928. I don't know if the property was sold or conveyed since then, although the royalty interest would survive any conveyance,
Thanks.
Randy Eiland
I’m wondering what activity is going on close to my property in block 13 sec 59? What oil company is the primary in this area? We are currently unleased and have been approached recently. We are in the middle of negotiations and the sticking point appears to be cost free royalty. The oil company respresentative assures us it is common practice for us to share in 3rd party cost with 25% lease. Thoughts on this…I’m don’t live in Reeves Co, that is not common place in our area. What is typical bonus money in block 13 sec 59?
Apache is building an acreage block in your area (with a few permitted wells), and their brokers are the ones leasing in your section. I'm guessing the broker you're speaking with is either R&J Graham or Cove Resources?
The play they're developing is a bit out of the proven areas of the county, so it is a bit speculative at this point. That said, I've heard they hired some great minds from EOG to tackle that area, so hopefully some great wells are produced. Due to the speculative nature of the play and limited competition, the lease bonuses are a bit lower there. I'm consistently seeing $800/ac. I've also seen them push back heavily on the cost-free royalty, and I think they've been successful in keeping it out of the lease forms given the lack of competition. How many net acres do you own? If it is a large number that would give you some leverage to insist on the cost-free royalty.
June 03, 2016
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http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
June 07, 2016
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http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
June 08, 2016
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http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
SERVICE WELL
June 10, 2016
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http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
June 13, 2016
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPubli...
Kakai, Wolfcamp Shale has laid it out for you. You might propose to pay your share of the costs when they own the processing plant but ask for a cost free royalty otherwise.