Replies to This Discussion

Permalink Reply by king john on November 5, 2009 at 1:17

there are a couple things that come to mind upon viewing this permit...
how are they still calling this a wildcat field???
what does HR mean???
is this in the stockman field???
kj

Permalink Reply by king john on November 5, 2009 at 1:20

another thing i notice is the TD on this well is only 14000. this couldnt leave much room for a lateral if they are going for the Hville shale...
kj

Permalink Reply by jffree1 on November 5, 2009 at 2:19

KJ, This could be a Pettit well also. The proposed lateral is pretty long for the area at 6800'. XTO said that they are not in a hurry in this area (as acreage is mostly hbp already). They also said that they will be experimenting with different lateral lengths to see what works. I would expect to see ammendments to this permit over time.

Permalink Reply by king john on November 5, 2009 at 6:09

yep, i agree... if the lateral is 6800, then the TVD would be around 7200.
kj

Permalink Reply by R.A. Holt on November 5, 2009 at 15:36

I recently inherited mineral rights( 36.75 acres) in the C.C. Tutt survey. A landman called and said he was sending a lease agreement, What should I expect?
RAH

Permalink Reply by king john on November 5, 2009 at 16:14

i think you can expect a low offer. i would urge you to find out who is offering the lease and investigate who they are and what they do. many companies offering leases are just trying to get them in order to sell them for profit at some later point in time. if you're in a position to do so, i would hold out just a little while. when NG prices improve and the drilling gets going, and some good wells are drilled, we may see a $500 offer go to $5000 an acre offer. now the down side of waiting is if they drill a bad well next to you , then the value of your potential lease just went down.
kj

Permalink Reply by R.A. Holt on November 5, 2009 at 16:25

Thank you...this could all be very interesting, The inheritance was unexpected and I am not dependent on it,
RAH

Permalink Reply by jffree1 on November 6, 2009 at 2:47

Be sure it's a lease and not an offer to buy, also. If you aren't sure after you read it go ask a lawyer to look it over for you.

Permalink Reply by DJG on November 5, 2009 at 16:38

First off, don't sign anything right off the bat as the Oil and Gas company rarely will come out of the gates swinging with their best contract terms.

Do a bit of research here on the site and elsewhere as to just what a valuable resource those inherited minerals are.

Do you know which C Tutt Survey your minerals are located in?

There are actually two in Shelby Co.

Abstract A-727 / C Tutt Survey is in the Northern portion of the County Just North of HWY 59 in West Teneha.

Astract A-726 is the Clement Tutt Survey and is about 8 miles SE of Center with a bit more activity currently permitted.

Permalink Reply by R.A. Holt on November 6, 2009 at 0:42

My minerals are in the A-726 survey. All help and advice is apprerciated.
RAH

Permalink Reply by DJG on November 6, 2009 at 4:16

Seems to be a good survey to be in as there is interest from both Devon and XTO (and maybe others) in that area.

Permalink Reply by easttexas12 on November 6, 2009 at 5:29

R.A. Proving some fields (i.e. Haynesville, Bossier) in E.Tx. is not far off in that area. My two cents, I would get all the information you can get from this Cat, then lawyer-up in Center. If his company hasn't drilled a horizontal well yet, he's looking to flip your lease to someone who has, at your expense. Time is on your side, unless of course you get a bad well close by like John King said. Time is your friend on this one in my opinion.

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