1N 3W Section 29

Have a lease with Continental. Just wondering if anyone has heard of any activity in that area. Thanks again everyone. Very informative and helpful forum.

89Energy has a horizontal pending. You should have gotten three OCC mailings. If not, here they are. Make sure your address is correct in the respondents list. OAP




Oh wow! Looks like I have some reading in my near future. I see that my name and address are listed correctly. I haven’t seen anything in the mail yet. Thank you so much for your help M Barnes!

We just received an lease extension offer from Continental for 1/4 royalty, and a $500 bonus per acre. It would be the standard 3 year lease. Does the bonus seem low in light of the current activity in the area? Thanks again for sharing your knowledge and experience with all of us.

In general, not specific to your area, any $ with a 1/4th royalty is good. By far the most common offer with 1/4 royalty is no cash.

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Gil: If it is an extension of a current lease, there is no negotiation. If it is a new lease offer, meaning the original lease has expired, you can negotiate new terms. Only thing that will drive up the price is competition and most of the players have gone broke.

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Mr Harris- In looking at your current lease, Continental has a 15 day right of first refusal, until the current lease expires on Dec. 6. I will bet a dollar to a sack of donuts you get better offers than the most recent one from Continental after December 6. Todd M Baker

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Stay on top of any mailings. 29-1N-3W has a pooling hearing pending. Case 201901145. It is supposed to be 11/19/19. You only have 20 calendar days in which to answer the pooling once the orders come out.

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Cause (201901145) was protested by ECHO, Continental and Marathon. 89 Energy won’t be the operator of this unit.

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Aren’t those companies protesting 89 since 89 is the applicant? How do you know 89 won’t be the operator based on protests? Sorry, I don’t understand how the OCC decides these things.

89 is the applicant, yes. But they don’t control the majority of the acreage in the section and only filing the application to “move” things forward. The others are protesting because they don’t want 89 to be the operator. No mineral owner in Section 29 should want 89 Energy to drill/operate the well. They don’t have enough experience. My opinion.

89 Energy just offered $1400/NMA + 1/4 royalty. We are waiting to hear from Continental (last lease) to see if they can meet or match.

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Mr. Harris- I’ll be calling to get my sack of donuts. LOL

Glazed, or ole fashioned? :slight_smile:

How can you know who controls the majority of the section?

Ownership reports are the easiest way.

I know of offers greater than the $1400 & 1/4th with good clauses.