Is anyone in the group knowledgeable about current events, particularly near Overbrook Road?  What type of unitization is in process for what well?

Views: 45430

Replies to This Discussion

I think a separate thread would be great.   I understand about being technology challanged, as my knowledge is lacking.

   West is North of me, not really in line with Kennedy and Fritz.  I have not talked to Fritz lately or heard anything from the Valley network.   

Denise & FMV,

My educated guess as to the location of the new REX West well permits is 1.5 miles west of the Kennedy wells. There is a property owner by the name of James A. West Jr. leased with REX that owns 356 acres there. The property is highlighted in the map below, click on it to enlarge it and I attached a pdf version. I hope you are near-by Denise.

Attachments:

I am a couple miles from there.  when XTO was working on Fritz I was hoping to be part of a unite but that didnt happen.   But I am too far from West to be part of West.  

I know with my lease expiring in Oct I will not see drilling this year, which is fine with all the information I have seen on old leases.   I do not have an automatic renewal so it is all up for negotations. 

So doing research as to what to expect before I turn the lease over to the attny.

Oliver, 

I believe your "well educated" guess is correct.

The pipeline coming from Kennedy heading north would catch both the West and the rumored Rittswood pads. From the "scuttlebutt" I have heard they are aiming for the electric transmission line  ROW which would also take them to the rumored Powell Rd pad. From there I ain't got it figured out yet.

Denise,

I don't have too much to contribute other than a 2 cents worth of pure speculation.

 I am guessing XTO had or has most of the leases around your area. They let Fritz go and yours is about to expire. I am guessing there may be quit a few "early" leases in the same expiration.(Doesn't really matter who you were leased with but I am assuming XTO)  It would appear to me that XTO has somewhat "bailed" out of that particular area, for whatever reason. 

I believe Rex is certainly interested but I would not think you will get drilled for a while.

I say this because Rex has stated in some of their quarterly wall street dog and pony shows that they are focused for the next 2-3 yrs on locking up by HBP leases that are getting close.

Currently Rex is only drilling about 20 wells a year "completing" maybe another 20, getting to market and in "production" , not real clear on that, pipelines?

Rex appears to be "the player" in this general area but there are others "sniffing" around.

Huntley & Huntley has been making 10Yr offers,mostly south of 228 and not really interested if Rex has it surrounded. (scuttlebutt alert!)

Denise, if you have heard an "rumors" feel for to post them. LOL

Cheers

ps: used "rumor" way too may times, gotta get the thesaurus out!!

Thanks for the info.  Yes I signed with Phillips which turned to XTO.  The reason we went with them as we already have an 8 in transmission line accross our property and they wanted us more then we wanted them.  We thought with the transmission line it was more then likely we would get drilled, well that thought process was flawed.

I knew I would not get drilled for awhile, unless they needed my property to get at the non surface lots around me.   The ones that I know are all with Rex.  Rex will either need us or Fritz to pull them in production.   My husband is getting Antsy since no one has knocked on the door yet.  I have gotten so much information from here and appreciate it.  I have my wish number, my rumored number and my more then likely number for sign on.  I know what is being offered out there for royalties and extra clauses I need.   My attnythat did my  last lease got some good stuff in there.  I am going to copy in and mark it all up so when they come knocking I am ready, informed and armed.   I figured by the end of Sept I will have offers.  I have calls in to find out if I need to change the ownership of the gas and oil rights before I sign a new lease.  Need to find out if it should remain as individual ownership, or trust or LLC.  Mainly for liability reasons, but I want complete access to any monies.   Any opinions on that?

 

I have heard figures that some people received in West Deer area and really did not want to sign a lease with his termst.  So very happy of what is going on.  I think my husband's cousin got ripped off along with his neighbors but it is a different area so maybe not.

 

Denise,

Couple little comments.

I know for a fact that Huntly & Huntly has been working the area lets call it Leslie Rd. and tailing over into West Deer. They are offering 10yr , 16% net,non surface "boilerplate" leases for 4250/ac. From what I am hearing people are sucking up the 4250. Mostly smaller parcels that I have been told.

Guy gave me a copy of the lease - strictly O&G boiler plate- not landowner friendly by a long shot. He is leaning towards signing it because he really doesn't care about the royalty's figuring he is going to sell well before he sees any. Turns over the gas rights when he sells , makes it a bit more attractive.

Make perfect sense for him, but I really wish more people would hold out for the no-deductions royalty's. Make a lot tougher on the landmen! LOL

Don't get me wrong, the guy is going to do do what is right for him and I respect that.

I said a "couple" but I got sumpin I gotta do at the moment. Fair warning I most likley will be back before tooo long. 

yeah not sure who he went with just that it was a 10 yr lease 1250 non surface and low royalty.   i wish they would have talked to us first.   i dont want a 10 yr lease so was glad to hear rex is still doing 5 yr.

 

I am still on the fence about a 10 yr, if they like it -I tend to cast a gimlet eye on anything "they" like. Landman was mumbling something about the bean counters being able to stretch the cost out and "maybe" sweetening the pot ( $$$,s and terms) if we go 10.

I am at the point that there is only one 'Non-Negotiable"  condition-

NO DEDUCTION ROYALTY'S- sorry for shouting but I ain't moving on that one.

Rex is not too bad about throwing out the "legalalize" terms as I call em. ie: Warranty of Title,Indemnification, Gas storage, etc.

Some of the other stuff such as, Pugh Clauses, (horizontal and vertical) Unit sizes, Shut in fees, etc. I will give and take on.

10 yr- ehh - probable gonna get drilled in the next 2-3 if I sign, HBP, royalty's 4-5 maybe.  Depends on the pipelines and other infrastructure.

I am looking long term and in no hurry to sign a "bad " lease.

My wife is getting "antsy" also but I say" Patience my dear it will all work out". Those lumps on my head will also go down! LOL

Seriously, and I don't wanna get up on a soapbox, but landowners gotta talk to each other and stick together , share info real or rumored. Ya ain't gonna beat em but we can have some fun trying

ps:  I know you gotta lawyer and I got one so every word, colon, semi-colon and period will be scrutinized, as it should be.

 Cheers

we didnt sign right away last time and the offered doubled.  he knows we are not jumping on the first one, but feels with the expiration fast approaching someone should be knocking.  i think he thinks no one is going to knock with our current government.  i think they will be here so that the check doesnt have to be issued until next yr.   depends on what the o&g co feel is coming as taxes and regulations ect.   i am willing to wait til next yr for a huge sign on bonus. 

a ten yr lease the only way i would consider is if the bonus was at least 3x current and the royalty is increased signifcantly. 

Lots of activity at the Reno site. Water trucks in a convoy almost!

Must be going to frack it or are already. 

Thought they may wait a bit for the pipeline. Might want to see what they got, but with a pipeline already  laid out can't be too worried.

 

Hauling water like crazy to Reno!!

In another thread some one said it takes 7 million gal to frack a well 

10,000 gal to a truck (guessing about what the straight trucks haul) , around 700 truckloads if my math is correct. After frack I assume the gotta haul it back out - lotta truckloads.

Sand also - don't know how much of that they need but seen a few dumps lined up on site.

Side note here:

Before the pad went in Logan road was repaved right up to the entrance. (Quite nicely I might add). A while back I had heard that Rex was going pay to repave - maybe they just did it up front.

Out on a little errand couple hours ago decided to take a pass by the Reno pad.

Gotta be frackin, big cherry picker in the air , lights on, fair amount of truck traffic.

I believe those boys go 24/7 when they get into it - appears to be the case.

I am still a bit surprised that they are fracking before the pipeline has even started.

From what I gather it is going Reno to Kennedy to West to Rape. Maybe something between West and Rape??  Somewhere I read that they let the well sit for 6 mo after they frack-let all the cracks settle in or something like that.  Still - got 10 mile or so of line to run before gas to market. Maybe gonna fast track the pipeline?

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service