I have mineral rights around Rush Springs and received an offer weeks ago. Some family with rights close by verified they haven’t heard anything yet. Wondering what kind of activity is in the area.
what is the section ,township and range ?
10-04N-08W
Hi, I heard from my dad this week that our cousins in 3n6w have had lease offers. My siblings and I need to find out the details. Section 27. The map says “springs” at the top. We are also wondering if it is active. My dad has a cousin still living on the old family homestead.
James In the pooling order for section 3 north of you the oil co was ordered to offer $250 for 3/16th or no cash and 1/4th .
Holly Marathon has filed paper word for wells in 2 & 11-3n-6w . In the pooling order for section 2 they were ordered to offer $1,400 for 1/8th , 1300 for 3/16th or no cash and 1/4th . You and James should run your agreement by the forum to make sure you get the terms you need or get help from someone you trust . 3n-5w is very active so maybe it will happen in 3n-6w . Ask the oil co. to email you a copy of the lease to look at then get someone to go over it with you .
Thank you Ron for the information! That is great to know that there is paper filed in 3n 6w! It is at least close. I started my own thread w/ the details I have heard so far (second hand.)
Okay, thanks Ron!
We have the paperwork for the lease at 10-4N-8W and the offer is $300 per acre, 3/16, with a two year option at 125%.
The lease also says, "Lessee shall have the right to use, free of cost, gas, oil and water produced from said land for its operations thereon, except water from wells of Lessor."
I'm not sure if that's the common agreement or if it needs to be adjusted.
Any thoughts or advice on these terms would be greatly appreciated!
I think you can get no cash and a 1/4 royalty,base on what is going on around you, if you like . I would not give the option for two years, I would want a depth clause, time limit on shut in royalty clause , agree to no deductions other then production tax. The clause you ask about is common . If you want to send me a copy of the lease send me a friend request and I will give you my email or fax .