East End

Had offer two weeks ago from Devon at $1,000.00 ac. & 1/5th; asked why I couldn't get $2,000.00 ac. & 1/5th that they'd offered someone else. The landman didn't have good answer and kept encouraging me to go ahead a lease for $1,000.00 acre. I still have the acreage.

Has anyone heard how Winchester's well is holding up that came in at 400+ bbls and a lot of gas about three months ago?

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Replies to This Discussion

Permalink Reply by Ellie Mae Clampett on September 10, 2008 at 16:49
do you know where this well is located - re: Has anyone heard how Winchester's well is holding up that came in at 400+ bbls and a lot of gas about three months ago?
Permalink Reply by Redfish on September 11, 2008 at 6:36
The well is the Stiles Trust #1 located about 1-1/2 miles southwest of Gray. It potentialed 426 bbls. oil and 1,027, 000 cf gas a day according to the Rail Road Commish. I haven't heard how this one or their other wells did in this area but know they were going to drill deep enough to go into the shale over there.

Don't know anything else.
Permalink Reply by Dan Carter on September 10, 2008 at 16:49
The lease bonus is nice, but the real money is in the royalties. $1000 for acreage that you probably haven't leased in the last 15 years is nice (of course, if $2000 is the going rate...then, $2000 would be what I asked for), but a 25% royalty could put a lot more money in your pocket over time than a 20% royalty.

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