Can anyone tell me what the current lease offers are for Block 3? I have an offer of $100 but that sounds low to me.
Thanks
I too have received an offer for leasing in Block 3 (Section 11). Something must be going on. I leased in 2013 and that lease has lapsed. Offers are coming in but very low (bonus $75 to $100 and royalty less than 20%) Anyone out there with knowledge on what is going on?
Looks like they are trying to steal leases. Last year my wife was offered $300 and 20 %, and she declined. (Her Place is near Hermleigh.) The Permian Basin Oil and Gas Association magazine has been reporting the highest drilling activity in Texas in the Permian, including all of the southeast part of Scurry County. Scurry is, of course is in the Cline shale oil and gas of the Permian. Companies have been very active in the Permian. They slowed during the bottom of the oil price slump, but unlike other Texas productive areas, never stopped all drilling in the Permian Basin. The last issue of that magazine reported very favorably on Permian and several companies are doing very well. You can get a free newsletter from the association I mentioned above (and a magazine that costs). The magazine is published for company operators and businesses associated with the oil and gas industry. The newsletter is like an online version of selected material from the magazine. Conditions vary and no one can accurately predict the future, but some experienced oil and gas people see the Permian as having a great future, much better and sooner than the rest of the country. All depends on oil price, and OPEC is the big factor.
Some experts talk about oil demand from China to affect WTI price and others growing substantially. The Houston Chronicle and Midland-Odessa newspapers are full of Permian Basin oil and Gas news. Also read the Fuse. Good luck! Bob (Robert)
Thanks, Robert. Doyle, Have you had any luck with your offer in Block 3.
My sister and I were left mineral rights from my mother. Anyone have recommendations on the easiest way to get them transferred into our names? Should we travel to Scurry County to have it done or is it just as easy over the internet/notary? Can anyone refer us to a local entity that would handle this for us? Any and all information would be much appreciated.
Ms Powers:
I don't believe you can get it done on the Internet, but you probably won't have to go to Scurry County. You need to get your rights recorded in the Scurry County Clerk's Office. If you received your rights by a will of your mother's, verify that the will has been probated and is on record. If not received by will, I assume you received the rights under the Texas Estates Code regarding inheritance. In that case you will need a proper document filed that establishes your title by inheritance.
I suggest you call a Scurry County lawyer for guidance and you will then probably hire him or her to prepare the necessary papers and help you with instructions for signing and notarizing the papers. This can probably be accomplished by correspondence. I don't know any Scurry County lawyers, but I have been impressed by the work of the firm of Cotton & Cotton in Snyder (Scurry County). I saw their work on an oil and gas lease and believe it was a very good job. You can get the phone number of David W. Cotton and other information at: http://www.legaldirectories.com/Cotton-David-W-29317-Atty.aspx
That is from a directory of Texas lawyers. I don't know anything else about the firm. You may find additional information on Mr. Cotton by going to the web site of the State Bar of Texas at TexasBar.com (or is it dot org? At that site you will see a phrase, "find a lawyer". Type the lawyer's name in that search and you may be able to find his eligibility to practice, the date he was first licensed and perhaps more.
Do not take the foregoing as legal advice. I am old and retired and not current enough on the law to provide accurate legal advice. Good Luck with your mineral rights. Oil has gotten too cheap, but Scurry County is in part of the Permian Basin and oil has been found in the Permian since the early 1900's. (You probably know all that.) Bob Fairey
Does anyone have information on this well in southeast Scurry Co?
Three Span Oil and Gas Inc.
Thunder Valley 2 Unit
Enterprise(Strawn) Field
Scurry Co RRC#47165
2nd ? How far can lateral extend in a horizonal well? Surely, not beyond the leased mineral rights of surface property.
Thanks, andy
Andy:
From RRC data, the Thunder Valley 2 UT Well #1 is apparentlyproducing approximately 50 BOPD and 100 MCFGPD.
Concerning your question about the lateral length and leased mineral rights, the leasehold owners have the right to drill a horizontal within a Pooled Unit of leases (leased mineral rights that often differ from the surface owners). The well may come no closer to the edges of the Pooled Unit as is specified by the RRC Field Rules. The Enterprise (Strawn) Field Rules (statewide rules) specify the well can be no closer than 467' to the lease and/or pooled unit boundaries.
Earl
Thanks. I appreciate your effort and comments.
I did notice there is no pump jack on the the well.
I looked at what I think is called a "Christmas tree" on the well head and it appears to me that the gas pressure is producing the products. Once that gas pressure decreases to some point will a pump jack be installed and more petroleum be produced verses gas?
Is this a good well? Compared to current industry standards and costs?
All ears here. Andy
I have received an offer to open up an old well the was shut in a few years back. They are wanting me to sign a new lease but have offered zero signing bonus. Is this typical when trying to reopen an old well?
I wouldn't do it without a bonus.
Is this well located in Southeastern Scurry County near Mitchell County line?
I am not familiar with scurry county, so I am not 100 percent sure I’ll have to break out my map
I wonder if anyone in the Southeastern part of Scurry County is receiving offers from oil companies for leasing your land? With oil approaching $60 a barrel, I thought there might be renewed interest.
I am getting a lot of offers to buy my Scurry minerals, so that is encouraging. I am not selling!
Any recent lease offers?
Buddy Cotten
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