Replies to This Discussion

Permalink Reply by Headly on June 29, 2010 at 13:42

wow this is so intersting. thanks for taking the time to do this. alot to think about and reason for optimism. have a good 4th.

Permalink Reply by adubu on July 13, 2010 at 14:39

John---hold on to your hat--EOG reported the Crane #1H just south of your land 31.15 mmcfd IP--that is hugh--- you bet they will get you drilled---best thing for you would be they want to top lease you before expiration in Oct or lease expires before they can drill--If that happen go see good oil & gas attorney let him help write the NEW lease--at least 25% royalty and big bonus money like summer 2008--with good terms -- the example calculation I did the other day could be on low side of payment-- but don't go spending until its in the bank----Congratulation on a possible excellent royalty minerals your family left to you, it could be life changing for your family. If you got that type well $4.40 cf NG X 31mmcf X 30 days= $4.1 million gross 1st month X .01875=~$75,000 1st month royalty

Permalink Reply by Headly on July 14, 2010 at 7:10

This is totally amazing. Just had a chance to read about it - wow! We totally agree with your approach and hoping they don't drill yet. Fingers crossed. Thanks for your good wishes.

Permalink Reply by adubu on July 14, 2010 at 15:05

John---don't let any one talk you into selling your minerals!!!!!

Permalink Reply by Headly on July 9, 2010 at 7:30

Just notified that we are in an 800 acre unit. EOG "Kurth". Awaiting details.

Permalink Reply by jffree1 on July 9, 2010 at 8:16

Which survey(s) are you/Kurth Unit located in?

Permalink Reply by Headly on July 11, 2010 at 13:31

In Mora 827.

Permalink Reply by adubu on July 9, 2010 at 12:21

Congratulation John we talked about your lease and EOG last week that they would top lease or put you in unit before expiration. I hope you have good terms and royalty in your lease. Remember discussion don't go spend it until in the bank. Let us share your news and which well ( I assume it the Kurth well ) will have to look it up on rrc site. Most time EOG will permit only minimal acres to satisfy rrc for well and then later calculate best use of contiguous acres to HBP leases and then make up the final unit plat on DO time and this plat will not be placed on rrc site for public to review. Only the mineral owners will know. John make sure EOG sends you copy of plat, P-12 list (all tracts and owners in the unit) make sure your decimal interest is calculated correctly before you return DO when you receive it. If any question let your attorney review before you sign it. Check and make sure all your acres on pooled in the unit. SWEET DREAMS PS look on rrc find no "Kurth" by EOG so maybe they are non-op-WI let us know which well and where it is-- and since you are mineral royalty owner in the well they must give you any and all infomation about the unit and well or wells.

Permalink Reply by jffree1 on July 9, 2010 at 12:34

Only the mineral owners will know.

Hmmm... if an amendment to the Unit Designation is filed with the county, it is public record. Are you saying a Unit can be amended without filing it with the county?

Permalink Reply by adubu on July 10, 2010 at 5:46

jffree--saying it's not necessary to file with RRC of Texas per RRC office told me in Kilgore ; therefore, will not see admended plat on line at rrc site. Don't know answer re: county filing for record

Permalink Reply by jffree1 on July 10, 2010 at 9:42

Yes, TRRC has it's limitations. I have just recently been through some units in Nac. which had numerous amendments. The short answer, I think, is that amendments do not always have a plat filed with them. But I am not certain what the rules say, exactly, about pooled unit plats. I guess some research is in order.

Permalink Reply by Headly on July 12, 2010 at 6:25

Thanks again for the information. Have been advised that EOG must begin developing the site before lease expires or offer top lease. Does that sound right?

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