Our lease near Northrup was originally with Sharon Resources Nov. '09, then sold to Magnum Hunter, now know as Eagle Ford Hunter Resources. The lease is for 3 years with an option to renew for 2 years. We were paid the option check a few weeks ago, 1 year early. My guesses are; 1-they are dressing it up for sale to another entity, 2-they made a lot of money this year and are taking on expenses to mitigate taxes, or 3-they made a mistake. Does anyone have any insight as to what might be going on?
John:
I am unsure exactly where your'e minerals are located based on the information you gave in your post but if the area is targeted for developement over the next several years, I can see why a company would take this kind of action. I hope that this option to renew has negotiation clause to adjust to the current lease amounts. Of your guesses, would say the first is a possibility as these companies are always swapping/trading leases among themselves. Bottom line, just get the bonus, etc. that you are satisfied with as these are your'e assets.
Charles,
Thanks for the info. The lease is 1.5 miles west of Northrup on CR213. Unfortunately, we don't have a negotiation clause, so we were paid the agreed on amount.
charles s mallory said:
John:
I am unsure exactly where your'e minerals are located based on the information you gave in your post but if the area is targeted for developement over the next several years, I can see why a company would take this kind of action. I hope that this option to renew has negotiation clause to adjust to the current lease amounts. Of your guesses, would say the first is a possibility as these companies are always swapping/trading leases among themselves. Bottom line, just get the bonus, etc. that you are satisfied with as these are your'e assets.
John:
What State is your minerals located in? I probably will not be able to provide additonal info as I am most familiar with the Williston Basin area but someone else might know some info about your area.
John Putnam said:
Charles,
Thanks for the info. The lease is 1.5 miles west of Northrup on CR213. Unfortunately, we don't have a negotiation clause, so we were paid the agreed on amount.
charles s mallory said:John:
I am unsure exactly where your'e minerals are located based on the information you gave in your post but if the area is targeted for developement over the next several years, I can see why a company would take this kind of action. I hope that this option to renew has negotiation clause to adjust to the current lease amounts. Of your guesses, would say the first is a possibility as these companies are always swapping/trading leases among themselves. Bottom line, just get the bonus, etc. that you are satisfied with as these are your'e assets.
Charles,
We are in Lee County, Texas. Austin Chalk, Buda Chalk, and Eagle Ford Shale formations.
charles s mallory said:
John:
What State is your minerals located in? I probably will not be able to provide additonal info as I am most familiar with the Williston Basin area but someone else might know some info about your area.
John Putnam said:Charles,
Thanks for the info. The lease is 1.5 miles west of Northrup on CR213. Unfortunately, we don't have a negotiation clause, so we were paid the agreed on amount.
charles s mallory said:John:
I am unsure exactly where your'e minerals are located based on the information you gave in your post but if the area is targeted for developement over the next several years, I can see why a company would take this kind of action. I hope that this option to renew has negotiation clause to adjust to the current lease amounts. Of your guesses, would say the first is a possibility as these companies are always swapping/trading leases among themselves. Bottom line, just get the bonus, etc. that you are satisfied with as these are your'e assets.
John:
If you will click on "Groups" at the top of this forum, then click on "County Groups"; then scroll to Texas, you will find "Lee County". This site is made up of 7 members, all of which have interests in Lee County. You might post any question regarding your county at this site. Hope this helps.
John Putnam said:
Charles,
We are in Lee County, Texas. Austin Chalk, Buda Chalk, and Eagle Ford Shale formations.
charles s mallory said:John:
What State is your minerals located in? I probably will not be able to provide additonal info as I am most familiar with the Williston Basin area but someone else might know some info about your area.
John Putnam said:Charles,
Thanks for the info. The lease is 1.5 miles west of Northrup on CR213. Unfortunately, we don't have a negotiation clause, so we were paid the agreed on amount.
charles s mallory said:John:
I am unsure exactly where your'e minerals are located based on the information you gave in your post but if the area is targeted for developement over the next several years, I can see why a company would take this kind of action. I hope that this option to renew has negotiation clause to adjust to the current lease amounts. Of your guesses, would say the first is a possibility as these companies are always swapping/trading leases among themselves. Bottom line, just get the bonus, etc. that you are satisfied with as these are your'e assets.