Has anyone else received a Oil & Gas lease from LDO, LLC for Section 14, 16N,16W? It’s for only $50 per mineral acre. I am wondering if there is anyone else that is actively seeking to signs leases in this area that I can see about getting a better price. Thanks.
Welcome to the forum.
I would personally blow this off as a low-ball offer. Someone looking to flip your interest.
The old wells in that section were mostly Cottage Grove. Someone may want to infilll but I doubt they would do anything at today’s prices. Personally, I would wait a bit and see if prices rebound. R.D Williams was leasing in surrounding sections in mid 2019. If they say they want to lease for Cottage Grove, you would need a depth limit as there was horizontal drilling nearby that would go for much higher prices, maybe…
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