Has anyone seen any offers on Caddo 08-10N-11W?
We have a few offers 20% - 25%. Bonus $500 to $1,500.
Thanks,
John
Several agents have been leasing in that section in the last 24 months. Most royalties at 3/16ths, a few with 1/5th. Bonus amounts are not public.
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We have just received an initial offer in 03 for $1000/a bonus at 1/8th, contingent on capping a well we didn’t even know was still open on our land; @M_Barnes from a previous thread that was the top lease mystery I asked you about.
This is why I am not a fan of top leasing. And why would you want 1/8th, when leases in sec 1 & 11 are up to 20%?
An Overview of Recurring and Related Issues Involving Top Leasing.pdf (210.2 KB)
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Quick update to this for everyone in a similar area: We now have multiple landmen stating interest in our 160a section. We are in the process of clearing an non-producing lease (from 1974!) to eliminate the top lease being a concern. Seeing $1800/a w 1/5 roy - $2200/a w 3/16 roy openings so something big might be happening here in Caddo in our area. We were advised to shoot for at least a 1/5 royalty by our O&GL attorney. Hope this helps others.
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