Over the past several months my family has been approached by Wilson Oil and Gas regarding leasing of several hundred acres located in H. E. & W. T. RR Survey. We currently have 560 acres leased to South Western as of a few years ago and I am uncertain as to the financial strength of Wilson Oil and Gas or the truth behind what I am being told. As of last week I was informed that if we did not sign the lease they would be forced to cut us out of the royalties.
Here are a few of the questions I am trying to find answers to:
1. Is it possible to just cut someone out of royalties and if so how is it done?
2. What is the average bonus per acre in that area of San Augustine?
3. What is the general royalty % of leases being sugned currently?
4. What is the normal lease term for leases currently being signed?
Any insight into the questions would be a significant help.
Thanks! Jay
Tags:
There are six surveys by that name in San Augustine County. You will need to provide an abstract number or an alternate survey name.
They are trying to scare you into signing. Wilson Oil & Gas is not a name I can associate with drilling Haynesville wells in this district but they could be leasing for someone else.
jffree1,
Thanks for the reply. Here is the detail I have on the land in question.
H. E. & W. T. RR. Company Survey No. 3, Abstract No. 388 by virtue of Land Script No. 1196, issued to said Company by the Commissioner of the General Land Office of the State of Texas on August 8, 1881, transferred to O. W. Crawford and Charles K. Minor on August 8, 1881, recorded in Volume L, Page 190, Deed Records of San Augustine County, Texas.
Does that information help define the actual parcel in question?
Harding Co. has a (James Lime) well permitted just to the west of A-388. Here's a link to the unit plat and to the permit. That might have something to do with your offer.
Plat: http://webapps.rrc.state.tx.us/dpimages/img/900000-999999//PR000093...
W-1: http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do;jsessioni...!-829649087?fromPublicQuery=Y&name=BLACK%2BSTONE%2BWHITE%2BROCK&univDocNo=486231808
If you'll look on the W-1 page and click on the Texas icon it will take you to the well location on the GIS map so you can see how close it might be to you.
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