Recently received a lease offer in this section and wondered what offer other may be getting. Is there much going on in this area?
We leased 8N3W17 and 18.
Lease bonus amounts are not public unless someone on the forum wants to post what they have been offered. There is a lot of leasing by Reef Petroleum. They have offered up to 25%. Others filing are Anevay Resiurces (1/8th), Continental Resources (up to 25%), MK & P Energy LLC (~1/5th), Plainveiw (25%) Quantum Resources (up to 25%), Red Stone Operating (up to 25%). Personally, I prefer the higher royalty.
If you have not leased recently, you would be wise to get a good oil and gas attorney to look over any lease and make the necessary changes.
Thank You Connie and Martha. I agree, a good royalty interest is more important than the bonus. I mentioned this to the landman I was talking with last night. Just knowing that some companies are offering up to 25% gives me some hope that I can push that limit. It seems like for a while now no one wanted to agree to 1/4 because of the uncertainty in the market. I know, a lot depends on location, location, location. But maybe things are looking up. Definitely will have our attorney look at any lease offers. Thanks again for all the great information and support of this forum.
This topic was automatically closed after 90 days. New replies are no longer allowed.