A lease that I have in Ector County with Devon expired about a year ago. Devon has continued to successfully develop this lease that is HBP'd but has had to release the "deep rights". Devon contacted me to lease my deep rights to keep all the depths intact. I tried to negotiate what I thought was a fair offer but they basically told me to take it or leave it. Thinking that they were bluffing, I left it. I have continually tried to make a deal with them and now they make lame excuses like: they are no longer interested or don't have any money for leasing, etc.
The lease that they are "holding by production" is doing very well. It has two great horizontal wolfberry wells going across it. I guess my question is: do I go back and beg Devon to take the deep rights at their initial offer or do I just wait it out, hoping that someone else will come along and lease my deep rights? Since the interest sits under several good wolfberry wells, I would assume that they are just getting more valuable, correct?
I would appreciate any advice. Thank you.