Can anyone of ya’ll tell me where to go to get production information. I haven’t been able to find it on the Rail Road Commission website - it’s probably there, just can’t find it.
Thanks.
mark.
Is the drilling on section 62 block 4x on the east side or the west side of the section and how do you find out where block 4x is , it dosent show it on the rr survey , it just says section 62.
Mark
NARO-Tx Convention in San Antonio, June 13-15 — anyone else (besides me) attending? If so, let’s connect!
Came across this article that mentions Terry County that I thought others might be interested in reading. http://lubbockonline.com/business/2012-06-02/squeezing-shale-small-…
Also, we received an offer to purchase our mineral rights in Block 4X, but we are not interested in selling. Imagine this in advance of some planned exploration in the area.
Our family was also approached about selling rights in 4X. We had no interest either. Hopefully things are beginning to move in that area!
Egkellogg, you might try to link up with edubose on this forum. He sent me an e-mail that the rig you mentioned was producing, but he did not know as of July 15 if the production was oil or gyp water or what it was. That area is over around Rich Lake and Mound Lake and it could be that what they hit was just a bunch of worthless gyp water. I e-mailed edubose to please keep me updated if heard anything else, but I still have not received any further info from him. He is a member of the Terry county forum group.
National Assn. of Royalty Owners, Texas - Town Hall Mtg. in Lubbock on Aug. 14-15
(I learned SO much at the NARO conventions - would highly recommend this to anyone who’s not an expert!)
Contact Person: Ed Fowler (806) 535-9068
Dates of Event:
• August 14, 2012 at 6-9 p.m.
City Bank Building
5219 City Bank Parkway
• August 15, 2012 at 1:30-4:30 p.m.,
Texas Tech University McKenzie-Merket Center
17th Street and University ON THE CAMPUS
Sponsoring Agent: National Association of Royalty Owners- Texas, Inc.(NARO-Texas)
The National Association of Royalty Owners will sponsor Town Hall meetings in Lubbock on August 14th and 15th to educate area residents on topics of interest to mineral/royalty owners. Owners of small and large mineral/royalty interests are encouraged to attend.
Topics will include determining decimal interest, negotiating leases, division orders, production payments, state statutes, helpful websites, and the role NARO and NARO-Texas play in protecting mineral and royalty rights. There will also be time for Q&A.
There is no charge for the meeting. Reservations are requested for adequate planning of printed materials. Adequate parking is available at both locations, but ride-sharing is encouraged. For reservations, please email: [email protected]
For more information on these events, click this link: NARO TX Town Hall - Lubbock, TX.pdf
Thank you for your replay. The well in question is Concho Resources Red Headed Stranger in section 4x block 11. Concho as you probably know is focused in the Permian Basin and has a significant stake in the North Midland Basin emerging Wolfcamp/Cline play. Their holdings are centered in NE Terry County. Red Headed Stranger is Concho’s first exploratory well in the area and for all interested parties may shed a bright light on the potential for this prospect. Am curious what local folks may be learning about the success of this well or is it still too soon to tell. Thanks in advance.
How do we find out if the rigs are producing any oil, gas, or just anything? Any information on that would be great! WE are in the section 4x, in Terry County and also have rights in Hockley… and have received many letters & calls to sell rights. No way would we do that.
We too (me and my brother) have received letters from oil companies to purchase our rights to our minerals too but have not sold. What does one do if they are interested in selling and wants to solicit?
Julie…why would you sell, when you could potentially get SOOOO much more if you waited a short bit? If you were approached & have received letters from companies, than you would have what you needed to sell, right? We all pretty much got those letters…It is enticing, I agree. BUT , if they find oil & gas, which most of us, feel like they will or all ready have, the amount doesn’t even compare to what you will get if you pay out now. Once you sell, you will never get it back. Remember this. I was always told, you never sell your rights. Ever.
Me and my brother John Shinn have been approached about selling our mineral rights on the N/2 section of Section 4, Abstract 501, EL & RR Ry. Co. Survey, Terry County, Texas. We have found that those around us are selling at 2300/AC. I own 53.33 mineral acres and he owns 53.33 mineral acres. These are currently leased for another year. Does anyone know of someone who would be interested in buying? If so, please have them email me at [email protected] or call me at (480) 650-0934. thank you! Julie Donnelly
Julie, Everyone’s situation is different and if want to sell I would suggest you engage an attorney to maximize your opportunity. I recommend Bill McGowan in Brownfield. With your lease coming up in a year, you should have no trouble leasing the property again and I would suspect the lease rates are going to explode if there is any proven production in the area and likely foe shorter terms so you could see nice income from the lease in the next 12 months without selling.
Julie where exactly is that property in the county? 2300 is very high from what I have heard or seen, are they offering that to you to buy your rights permanently or lease them? Thanks Derek
Thank you Richard and Anne for your thoughts.
Julie, you should also talk to an accountant to see if there are income tax liabilities too. What is the current tax rate for “unearned income”? If the tax rate is 30% or 40%, then what ever you are going to receive from the sale, is going to be possibly reduced.
Derek, the offer was way below that but I’m told that 2100 is the going rate. If you’d like to talk more about it - email me at [email protected] or give me a call at (480) 650-0934. thanks! Julie
Actually, a sale of mineral rights is a long term capital gain (assuming you’ve owned it at least a year). If you are in the 0% or 15% bracket, your tax rate is 0% this year; if you are in the 25% or higher bracket, your tax rate is 15%. Assuming inaction by Congress, these rates move up to 10% and 20% respectively in 2013.
I’m not advising selling mineral rights, but if you must, this is an excellent year to do it.
DOES ANYBODY HAVE ANYMORE/UPDATED INFORMATION ABOUT THIS?Empresa Energy LLC has anew drill permit for its Proctor94 Lease, Well No. 1H (APINo. 42-445-32338), a horizontalwell — 467’ FSL & 1,980’FEL of Section 94, Block 4X,D&SE RR Co Survey, Abstract1463, 9,900’ total depth, 320acre lease