anyone leased lately? If so, how much NMA?
Last leasing in any section in 13N-2E was in June 2016 in section 27.
Thanks, M. Barnes...so my offer of $100 nma, 3/16, 3 yr is not so bad and better than nothing??
Only been 5 leases in the whole township in the last 999 days. Closest to you was in 13 back in 2016. To Truevine. Are you getting paid on any of the producing wells in that section right now? There was a horizontal well Hover 1-H that was drilled in 2007 that was just sold in January 2018. Prairie Gas Co of OK sold to Terzan Energy II, LLC.
I never jump on the first lease as they usually go up over time. Something new may just be starting. Your new lease of $100 may be better than nothing. Ask for $150 and 3/16. Make sure you get no deductions whatsoever, no enhanced, no nothing. That is gas territory and post production costs will eat up your royalties.
No payments for quite some time for Hover 1-H....Midstate Petro. filed bankruptcy in 2016. Thank you for confirming my initial response (to wait and ask for more). Thanks to advice on this website, I have a list of what to do/not to do in a lease.
New lease offer for Lincoln 12-13N-2E includes Aff. of Non-Production based on no royalty checks since 2014, which deems the lease expired, even with pooling order. Because I am unfamiliar with this Aff., I would appreciate your thoughts.
It would be better to get a release of lease if the operator is still in business. Release%20of%20lease%20oklahoma686.pdf
So from our previous conversation, I send the release to Terzan who purchased Hover-1H well in 2018? Even though has been no production whatsoever since 2014, my lease would still be in effect?
Your lease is probably not in effect if you have not been paid and have received no shut in payments since 2014, but it is better to get a true release of lease. Leasing agents like to have that in hand. Also request that Terzan file the release of lease in the Lincoln county courthouse and send you a copy of the release.
Thank you so much for your input. Over the past years, I have learned a lot from you and others about various oil and gas topics.
The new lessee wanting to lease might be happy with an affidavit of non-production, but it is better to have the actual release of lease filed in the courthouse so that you are quite clearly free to lease again. Also, by filing in the courthouse, that lets other landmen know that you are open. If you only hand an affidavit to one landman, no one else will know and you might have to do it again if you get another offer.