We have received a lease offer for minerals and I am trying to do some due diligence before responding. I am not seeing any leases recorded in the last couple of years in this T-R. Is there any leasing and/or drilling activity in this area currently? Any information on royalties currently being offered in this area? or near 35-17N-21W Thank you.
There is some leasing in this area. I’ve seen RD Williams, Upland, Bluebird, Rock Creek and a few other companies leasing in this general area. Royalties so far have been for the most part in the 3/16ths to 1/5th range. Did the landman or offer letter say who they are leasing for? Sometimes people on here can offer advice on companies, especially if they’ve had good experiences with them themselves.
He didn’t say which company (he was with an entity that appears to be connected to Teocalli Exploration. Teocalli also has wells in adjacent sections. Any advice is appreciated!