If you share the section, township and range, we can help with the activity, 1/5th is much better than 3/16ths if the wells are productive.
22-12N-13W I would also like to know if I could realize a higher bonus in this area. As I previously stated, I donāt want to miss the boat but I do know I need to advocate for myself. Over the years Iāve always followed the family herd because of my inexperience. Iām now trying to educate myself to make a well-informed decision on my own.
Continental and others are leasing in that township. FANTUMIV is a very new entity.
I wouldnāt worry too much about getting a better bonus as the higher royalty and the lease clauses are much more important. It would be very wise to get an oil and gas attorney to review any draft leases as they are not in the mineral ownerās favor and need significant edits. Some operators will not be flexible on a lease, but third party leasing companies may be. The operator will have to abide by the lease terms of all lessees. You can also wait for force pooling if the attorney option is not affordable. Pooling has its own advantages.
How long do they wait before forced pooling goes into play?
Can be weeks to months depending upon the operatorās time line.