I’m looking for current bonus rates for Burnett’s leasing for its planned well program in - 7-19N-26E. Three wells proposed in the Yeso. NMOilboy—any info?
Sorry, I have no idea. Well, I have an idea, but I have no info. I would guess a few thousand dollars max per NMA for 1/4 royalty.
Maybe it’s been discussed here prior, my “looking things up on the forum” skills are unused and suspect. Rick5 or JustinInfo or somebody who has been offered a lease around there might have better info.
I’m at $2000 at a 1/4, but don’t have anything to compare it with. Can’t get in touch with any of the other family members, but I doubt they researched prices. Burnett’s lease provisions are surprisingly reasonable, however.
@B_Scott_Manning we have recently leased a couple of different interests within a 20-mile radius of 7-19-26 and have received anywhere from $750-$1,500 nma on a 1/4th royalty, 3-year term, 2-year option. Sounds like Burnett gave you a pretty good deal.
Hi NMoilboy…haven’t leased in Eddy in some time. Lea County is the New Mexico County leased last and received offers on. Township 13 South, Range 38 East. So, can’t help in this instance.
We also received an offer from Burnett for 1/4 RI and $2000 /NMA. I thought it was a pretty fair offer but received advice to wait on pooling order. My understanding is that a pooling order would provide the best RI and Bonus that has been offered without signing a lease that has clauses that benefit only the operator. Not that Burnett sent a bad lease, I think it may be a good one, but then I am not an attorney. Still hard to believe pooling will provide better than that.
We don’t have any holdings in that block. We are in Section 24-17S-30E. The holding has been producing for umpteen years, long before my wife inherited the interest. All vertical wells. Burnett is the operator. All we know is they seem to pay promptly.
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