Something must be happening...

     I got a call from somebody that said they were representing XTO and Blackstone.   Offered a pretty penny for my mineral acres.

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Permalink Reply by Skip Peel - Mineral Consultant on May 8, 2018 at 14:33

Congratulations.  Without a location and offer amount, it is difficult to make a comment.

Permalink Reply by Mister Sunday on May 9, 2018 at 13:16

Man, I keep forgetting to do that.

Permalink Reply by Mister Sunday on May 9, 2018 at 13:15

$7500 a mineral acres. A. Spear A-43, San Augustine County

Permalink Reply by Skip Peel - Mineral Consultant on May 9, 2018 at 13:26

 I'm assuming that you have a quarter royalty.  A. Spear is a good survey and $7500 per net mineral acre is a decent offer.  The question is one of how many additional wells will your unit(s) accommodate and how soon will new wells be drilled.  Of course XTO and Blackstone would have inside information on those issues.  We would be interested to know the company making the offer. 

Permalink Reply by Mister Sunday on May 9, 2018 at 13:29

I didn't think to ask.  The only name I got from him was Blackstone and XTO.

Permalink Reply by Skip Peel - Mineral Consultant on May 9, 2018 at 13:31

I suggest that when you get a solicitation by phone that you ask for the offer in writing.  That helps you do your own due diligence and avoids any misunderstandings.

Permalink Reply by Mister Sunday on May 9, 2018 at 13:32

I told him I had no intention of selling them.  I think they can put quite a few more wells out there on the Keydets unit.

Permalink Reply by jffree1 on May 10, 2018 at 3:36

I don't blame you. There's several more planned now, Mister Sunday. I'll try to get my list updated for you.

Permalink Reply by Mister Sunday on May 10, 2018 at 13:08

Thanks, jffree1!  What does the B1 mean?

Permalink Reply by Skip Peel - Mineral Consultant on May 10, 2018 at 13:11

The first Bossier shale well in the Keydets Drilling Unit.

Permalink Reply by Mister Sunday on May 10, 2018 at 13:12

Oh wow!

Permalink Reply by Mister Sunday on May 10, 2018 at 13:13

I thought that was a different depth and required a different agreement.

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