There are 26 Producing Well Bores on Section 8 4N 64W that Ms. Naydo has minerals on. Of which there is a Nine Well Bore pad drilling site that has directional legs all over the section. The potential for additional wells is limited but more power to Ms. Naydo if she can get more then 36-48 multiples of cash flow. I go off market becuase I just went through all of this.
How do I find out how to calculate fair market price for my mineral rights they are producing great monthly revenue. They are township 8 2N 64W. Many new horizontal wells.
Yes Jason, looking to sell
Sorry, sorry 4N 64W section 8
Jason: I buy and sell all the time. 36x is low up there.
Deanne: You are in the drivers seat here. Should be fun, not frustrating.
Deanne
If you are looking for the most fun and best payday… Look into Energynet.com. You can list properties on their website and they have an auction type selling atmosphere. You will have to pay a small commission but the rates are very favorable based on the fact that you could get paid easily on a 60 month payout.
We have holdings in Weld County. Currently, COGCC shows a permitted well terminating horizontally at the “target bottom hole” in these holdings. It’s status is listed as AL, active injection. What exactly does all of this mean?
Thanks in advance.
Is there a web site with a glossary of all these terms and abbreviations?
Go to the COGCC website and then click on “help” and there are several pages to click on with information on codes. Status Codes and Glossary of Oil and Gas Terms tend to be the most helpful.
Thanks Jason. I misinterpreted the status abbreviation. A glossary of these to refer to would be helpful. There’s another well in our area that has a status of XX. Again, I don’t know what this means, I’m guessing “expired permit”.
XX means location. This is where they would like to enter the ground to start making a well.
DM–The answer is fact specific and likely specific to the lease, but the first part would be to review the lease to see if it has any time of Pugh clause. The other aspect would be things like the implied covenants i.e. breach of implied covenant to further develop. The Pugh clause is typically the key item, and typically the easier one to deal with.
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Any attorneys out there? Would like your input on if Oil Company can hold by production non contiguous leased lands by production in another section only due to being leased on the same document? Seems not right but ?? no delay rental no production income just by fact that other section in a lease is in production.
Also wondering if any leasing action going on near section 14 t9n r62w we have some open acreage there. . . thx
How many horizontal wells would normally be drilled in a 960 acre drilling unit? Or what is the average number drilled in a section? My rights are in 11n 57w.
Joe most likely with a section and a half unit they will drill one 1.5 mile lateral leg covering both sections. But I do know there are a few operators setting up for the soon to be norm of multi HZ wells per 80 acres spacing. I know 11N57W very well and can share all I know about them
I just found out that there has been over 53000 barrels of oil and 73, 000 MCF of natural gas produced on a well that I own part of the mineral rights too. the oil company (whiting oil and gas) tried to contact the owners but could not locate us. what do i do now context is trying to buy the rights.
any help would be apreciated
Cody Balzer in Loveland is good oil and gas attorney.
You can do initial trace by getting on Weld County recorder’s website.
Steve the minerals need to verified back to patent then brought up to current, again and again and again no need for a lawyer right now a landman can and will do this for much cheaper. If they were willed minerals they don’t have the burden to prove they own them the Oil company will hire a Drilling opinion Lawyer before they drill to complete title and verify mineral ownership or other issues and it’s about $6,000 per page by this lawyer paid for by the OG company. Bob or William just pm me for referral. Just to get a valid lease the OG company will verify mineral ownership on there dime not yours.