We have been contacted by a Landman looking to lease mineral rights from us. I wasn’t aware we owned any, but had it stated in the deed that all mineral rights the seller had would be transferred to us. According to the Landman that the previous owner did have the mineral rights leased before, so it sounds like we do have mineral rights. The offer was $25.00 per acres 5+5 and 12.5%. We currently have $50.00 per acre and14% on the table, which really doesn’t sound like anything from what I have been reading. Has anyone been contacted between hwy 36 and Fort Morgan (around Shamrock and Leader)? If so, what have you all been hearing?
Do a search here on Niobrara. From Weld County to the north and Elbert County on the south there is a lot of lease activity going on. What you were offered sounds really really low. Do a search on Adams County Oil and Gas leases at your county public records, it won’t tell you the bonus but will tell you what others are getting for roayalty percentage. Take your time and get well informed before you sign anything. Mike Miller
What section township and range? We farm and leased further to the South.
M A Miller said:
What section township and range? We farm and leased further to the South.Our property is the east 1/2 of section 20, township 2, range 58
Mike, I am in no hurry to sign and we are doing more fact gathering. Since we had talked to the landman, things keep popping in my head of what I have heard or seen. I know that there is a group of oil wells further east, don't know how many but will be taking a drive out there Sunday. I know that the property we have had an oil well on it at one time, which went dry - shallow drilling. I know there is an oil well to the section to the South East of our property. There probably is a lot more than what I know about out there since there aren't many roads in that area. We will get someone to the records office and do some pulling of current leases around that area to see what is happening.
Thanks Mike
Mike Miller said:
Do a search here on Niobrara. From Weld County to the north and Elbert County on the south there is a lot of lease activity going on. What you were offered sounds really really low. Do a search on Adams County Oil and Gas leases at your county public records, it won't tell you the bonus but will tell you what others are getting for roayalty percentage. Take your time and get well informed before you sign anything. Mike Miller
john Stolz said:
east 1/2 of section 20, township 2, range 58
M A Miller said:What section township and range? We farm and leased further to the South.Our property is the east 1/2 of section 20, township 2, range 58