i have been contacted by a landman as to leasing my rights to acreage outside Rotan, TX, in Fisher County. Does anyone have any knowledge about the activity in this area? Evidently, they are drilling for oil. I was initially offered such a ridiculouly low price per acre that it wasn't worth my time to research. The company has now come back with an offer 4 times the initial offer...make me suspicious.
Thanks in advance for any information.
I was just contacted yesterday by RT Petroleum with a low offer - $150/mineral acre and %16 roaylty. Seems VERY low to me. They only drilling to 4000 feet - vertical -cheap investment for the oil company. i have no clue what the activity is in the area.
If you dont mind me asking - what is your offer?
Here is another post from Sept 30th 2011 - This might explain the "excitement" in the area...
Any operator took a core in NE Fisher Co. of what we call "the 3 Fingered Shale". It was reported to have excellent shale reservoir qualites (high TOC's, brittleness, etc.)