Chesapeake Offer

Thanks for the info kyoilgas. I am pretty sure there is already some activity just down the road about 2 miles from where I live. There is a tank with a NYTIS sticker on it and oil derrick has been moved in there, but does not seem to be pumping yet. I have been looking at some maps and looks like this area is directly in the Rogersville Shale area and I have read some of the articles you had posted in other groups here. In your opinion, what do you feel the area has the potential for lease bonus and royalty %?

$200.00 - $250.00 per acre is what most are offering in the area. This will stay in that range until a proven play happens in the area. Some will offer the gas tap for a home and some will not. All depends on the operator. Oil or natural gas makes no difference in the lease per acre or % royalty to most operators in what they are offering. 12.5% before deductions is the norm right now, but have heard of more. If they have told you they are not interested in natural gas then have them write the lease for oil only and see what they say.