My Mom has 252 acres in Reeves County that has been leased (last year...for 5 years) by CWE. They sent her a letter last week, stating their intentions to "drill soon". Can anyone tell me how "soon" they may be talking about? Also, if they do "hit" something...when would she realize any money from it? She's 78, and is very excited/anxious about getting something. This land was in my Dad's family for over 100 years and, although it was leased a few times, no one has ever drilled on it. My Dad, unfortunately, passed away in 2006 without ever seeing any activity on it. So, my Mom would like to see something happen!
We received similar letters about a month ago from Clayton Williams. Best I can figure it's within 12 months. You can go to the TX RRC website and see when they actually apply for a drilling permit. I've been told that most drilling occurs within 12 months of applying for a permit, but I could be wrong. Others in this group may have better info than me. You should be able to call them and ask if they have applied for a permit yet.
"Soon" for CWEI appears to be "real soon". As I mentioned on a different thread in this group, we have a tract on which the permit was issued in mid-July and one week later they were on-site with a drilling rig.
A caution, though, even if they drill "soon", and even if the well is a producer, they still can't sell anything until there's a pipeline connecting your property to the marketplace. CWEI has a pipeline operation also, and are quite active in Reeves County.
Hope this works out well for you and for your Mom.
go to the TX RRC website and use the mapping tools to bring up your section. You should be able to see all of the other sections. Go to the Reeves County Tax Assessor’s website and put in the abstract numbers to see who is listed on the deeds. If you need more help let us know.
We got a letter yesterday stating that they want to purchase a “Right of Way Easement”; I’m assuming this is regarding laying pipeline? Also, they stated they would offer $100 per rod. Anyone know if this is a fair price?
Bob Owen said:
"Soon" for CWEI appears to be "real soon". As I mentioned on a different thread in this group, we have a tract on which the permit was issued in mid-July and one week later they were on-site with a drilling rig.
A caution, though, even if they drill "soon", and even if the well is a producer, they still can't sell anything until there's a pipeline connecting your property to the marketplace. CWEI has a pipeline operation also, and are quite active in Reeves County.
Hope this works out well for you and for your Mom.
$100 per rod for Right of Way (ROW) seems to be a fair price, about the going rate or a bit above, even. I was initially offered $65 per rod, then after a couple days the offer was bumped up to $100. I think I will accept the $100 offer.
Kathy said:
We got a letter yesterday stating that they want to purchase a "Right of Way Easement"; I'm assuming this is regarding laying pipeline? Also, they stated they would offer $100 per rod. Anyone know if this is a fair price?
Bob Owen said:
"Soon" for CWEI appears to be "real soon". As I mentioned on a different thread in this group, we have a tract on which the permit was issued in mid-July and one week later they were on-site with a drilling rig.
A caution, though, even if they drill "soon", and even if the well is a producer, they still can't sell anything until there's a pipeline connecting your property to the marketplace. CWEI has a pipeline operation also, and are quite active in Reeves County.
Hope this works out well for you and for your Mom.
:-( Sorry, I do need help....where on the TX RRC website do I find mapping tools? AND...on the Reeves County Tax Assessor's website, where can I put in the abstract #'s? I've looked and can't find it!
Thanks for your help!
William R Woods said:
go to the TX RRC website and use the mapping tools to bring up your section. You should be able to see all of the other sections. Go to the Reeves County Tax Assessor's website and put in the abstract numbers to see who is listed on the deeds. If you need more help let us know.
kathy, i just joined and started reading some of the posts on this forum. we have over 2k acres in reeves county. we are in the southern portion of the county. we've had the minerals for over 40 years. you said you are happy w/ cwe? we've been contacted by some of the operators and are just looking into options for now.
Well, I guess I kind of have to be happy with CWE. Unfortunaltely, the mineral rights for this 252 acres belong to me, my brother and my Mother. When CWE contacted us (my brother lives with my mother), the two of them looked over the contract and were satisfied with it and signed it and sent it back, without consulting an attorney. I kept holding out, wanting an attorney to look at the contract, and they kept begging me to just sign it. So, needless to say, against my better judgement, I did. Reading through the posts on this forum, I am sad to say we got taken. Most here are receiving around $1000 per acre signing bonus. We took $150 per acre, signing bonus. Of course, that's NOT the fault of CWE! I should have listened to my instincts and not signed until an attorney had looked over the contract. NOW an attorney has looked over the contract, and thankfully, that is the only major problem he saw with the contract.
CWE is a business, and they will certainly try to pay out as little as they can, which I understand. Other than that, the contract is a good one, our attorney says.
If you've been contacted by more than one landman, that's good for you; you certainly have negotiating power on your side!
Good luck and keep us posted! wznhnt said:
kathy, i just joined and started reading some of the posts on this forum. we have over 2k acres in reeves county. we are in the southern portion of the county. we've had the minerals for over 40 years. you said you are happy w/ cwe? we've been contacted by some of the operators and are just looking into options for now.
thanks for the response kathy. it certainly makes sense for mineral owners to stay in touch. i’ve now spoken w/ cwe and another company. i enjoyed the conversation w/ cwe and hopefully will make our deal w/ them. they are the big boys in the area and can obviously move quickly.