My mineral right property is only 2 and 1/4 miles from the elm coulee field which to my understanding is really producing i realize that just because my property is near does not always reflect what mine only a few miles away could produce if and when they drill. I guess my question is does anyone have any thoughts as to the possibility of production on my property my township 21 range 59 section 26 Richland County I signed a lease contract last month for 375.00 per acre and 18% royalty. Thank you everyone who responds your input is so much appreciated.
Theresa:
Your best bet is to just wait and watch as the drilling activity nears your area and pay particular attention to good producing wells. Keep in mind, there are several zones in your area which could be possible good producers. The developement of an area takes alot of time and as long as good producing wells occur, the interest in expansion will occur. You didn't state the term of the lease but in my opinion, a 3 year lease is the maximum. Good luck and wait and watch.
The lease is for 3 years, I thank you for your advice you seem to always give very sound and knowledgeable advice, I do have two more questions how do you watch the drilling activity in my area ? Is there a web site ? And the other question is why are certain wells confidential ? Thank you again...
Sorry i said two more questions when i actually had three Thanks everybody.
Theresa Hennen said:
The lease is for 3 years, I thank you for your advice you seem to always give very sound and knowledgeable advice, I do have two more questions how do you watch the drilling activity in my area ? Is there a web site ? And the other question is why are certain wells confidential ? Thank you again...
a 3 year lease is also the minimum for most any legitimate operator will do up there. It's just taking so long to get through the paperwork process, then lining up the drillers, the frakers, etc it's taking that long and longer. In fact I'm seeing push back to 4 year deals or 3+2 just to allow the operator the time to complete their project, with out having to start the lease cycle over.
charles s mallory said:
Theresa:
Your best bet is to just wait and watch as the drilling activity nears your area and pay particular attention to good producing wells. Keep in mind, there are several zones in your area which could be possible good producers. The developement of an area takes alot of time and as long as good producing wells occur, the interest in expansion will occur. You didn't state the term of the lease but in my opinion, a 3 year lease is the maximum. Good luck and wait and watch.
Thank you for your input. Dayton said:
a 3 year lease is also the minimum for most any legitimate operator will do up there. It's just taking so long to get through the paperwork process, then lining up the drillers, the frakers, etc it's taking that long and longer. In fact I'm seeing push back to 4 year deals or 3+2 just to allow the operator the time to complete their project, with out having to start the lease cycle over.
charles s mallory said:Theresa:
Your best bet is to just wait and watch as the drilling activity nears your area and pay particular attention to good producing wells. Keep in mind, there are several zones in your area which could be possible good producers. The developement of an area takes alot of time and as long as good producing wells occur, the interest in expansion will occur. You didn't state the term of the lease but in my opinion, a 3 year lease is the maximum. Good luck and wait and watch.