Good morning. I have been in contact with several mineral producers for Section 28, Southwest Quarter, Township 11 North, Range 23; Section 28, Northwest Quarter, Township 11 North, Range 23; and Section 29, Northeast Quarter, Township 11 North, Range 23, Beckham County. Is there any need or what’s going on there? Thank you.
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28-11N-23W-No active wells. King Energy has been leasing in the last 24 months
29-11N-23W-No active wells. King Energy has been leasing in the last 24 months. Royalty rates in the two sections range from 3/16ths to 1/5th.
King Energy just filed a permit for a multi-section horizontal well in 30 & 31 of 11N-23W. (Surface location in 6-10N-23W)
I just received a working interest participation option along with lease options of $1,000 for 3/16ths royalty from King Energy. So this appears like it’s going to happen. I just signed a lease with JMA for $1,250 for 1/5th last week. 6-10-23W Beckham County.
If you already signed a lease at 1/5th for $1250, that is better than the 3/16ths at $1000. Working interest is not for the novice owner.
King Energy has a permit for 30/31-11N-23W. Hutson 30-31H.