Has anyone been contacted by Landmen for leasing their land recently? Any idea what an acre should be leased for? How many companies have you been contacted by?
The last time we were contacted for possible leases was 4-5 yr ago. Sanchez Oil, offered $250 or 300 per ac w/ 20%. Freedom Oil, offer was better w/ 25%… Signed w/ Freedom Oil (formerly Maverick) 3yr lease. However the china virus hit… Both companies went bankrupt. Currently no leases for us in Dimmit Co.
"$250 or 300 per ac per ac? Isn’t that a bit low?
This is from a 2012 offer: “Chesapeake Exploration, LLC hereby offers to acquire an Oil and Gas Lease covering all of your undivided mineral interest in the above-referenced tracts on the following terms: BONUS: $1,100.00 per net mineral acre ROYALTY: 1/5 (one-fifth, or 20%) TERM: Three Years, paid-up FORM: Producer’s 88, 4/89 Paid Up, with additional provisions.”
Yes. Very low. That’s why we did not lease with Sanchez. Freedom deal was much better. However neither was anywhere close to the Bonus $ we had received in the past. When we last leased, oil was at or below $50 per barrel (iirc). Not a ton of activity at that time.
My family was contacted. We didn’t even know we owned mineral rights!!! Landman called etc etc…We did sign with Rosewood resources.We own in the Catarina Taft area. Have not heard anything eles since we sighed. Did get the sign on bonus.
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I didn’t know that Rosewood was leasing in the area.
Edit: “Rosewood Resources, Inc. has non-operated interests in the Cline and Eagle Ford shales.”
I was contacted and just received the contract for minerals I own in Catarina. Just wandering if anyone else has been contacted from Custer Professional Land.
We signed with Rosewood Resources. We get 25% royalties.
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$500.00. Which was split between our family, so we each only received $30.00. Which I thought was low. But signed anyway!!!
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