# Extension of lease offer **URL:** https://www.mineralrightsforum.com/t/extension-of-lease-offer/6619 **Category:** Ward County, TX **Created:** [July 19, 2015, 1:35pm UTC](https://www.mineralrightsforum.com/t/extension-of-lease-offer/6619 "2015-07-19T13:35:53Z") **Posts on this page:** 6 **Page:** 1
### Author: ![anon26697011](https://www.mineralrightsforum.com/letter_avatar_proxy/v4/letter/a/898d66/32.png) [@anon26697011](https://www.mineralrightsforum.com/u/anon26697011) #### Post date: [July 19, 2015, 1:35pm UTC](https://www.mineralrightsforum.com/t/extension-of-lease-offer/6619/1 "2015-07-19T13:35:53Z")
Shell is inquiring about an extension on a lease we signed in 2011 with Anadarko in Section 184, Block 34, H & TC RR Co. Shell is offering $2000/acre for 3 years. Current lease doesn’t expire until 6/2016. Can anyone provide advice if this is a fair offer and if we should accept an extension this early? ---
### Author: ![TennisDaze](https://www.mineralrightsforum.com/letter_avatar_proxy/v4/letter/t/dbc845/32.png) [@TennisDaze](https://www.mineralrightsforum.com/u/TennisDaze) #### Post date: [July 20, 2015, 4:25pm UTC](https://www.mineralrightsforum.com/t/extension-of-lease-offer/6619/2 "2015-07-20T16:25:01Z")
Large oil companies are planning drilling schedules from 1 to 2 years out so offer for lease expiring next June is logical. This is kind of like a ‘top lease’ since you are really signing a new 3-year lease. With ‘top lease’ you usually get part of bonus up front and rest when your old lease expires. Here you get all bonus because it is with the same companies. You should have a 25% royalty in existing lease and if not, then you can get that increased. Bonus rates seem to be moving around due to all the uncertainty about oil prices. So you can ask for more and then always fall back to $2000. GLO lease sale on August 4 includes a couple tracts in Pecos River between Ward and Reeves Counties so that might give you some idea at that point. ---
### Author: ![anon26697011](https://www.mineralrightsforum.com/letter_avatar_proxy/v4/letter/a/898d66/32.png) [@anon26697011](https://www.mineralrightsforum.com/u/anon26697011) #### Post date: [July 21, 2015, 2:31am UTC](https://www.mineralrightsforum.com/t/extension-of-lease-offer/6619/3 "2015-07-21T02:31:46Z")
Thank you! ---
### Author: ![Richard\_Kyle\_Milner](https://www.mineralrightsforum.com/user_avatar/www.mineralrightsforum.com/richard_kyle_milner/32/1122_2.png) [@Richard\_Kyle\_Milner](https://www.mineralrightsforum.com/u/Richard_Kyle_Milner) #### Post date: [August 11, 2015, 5:10pm UTC](https://www.mineralrightsforum.com/t/extension-of-lease-offer/6619/4 "2015-08-11T17:10:06Z")
We also have land in the same area. Our lease expires 11-2016. Who would I talk to regarding a top lease? ---
### Author: ![Richard\_Kyle\_Milner](https://www.mineralrightsforum.com/user_avatar/www.mineralrightsforum.com/richard_kyle_milner/32/1122_2.png) [@Richard\_Kyle\_Milner](https://www.mineralrightsforum.com/u/Richard_Kyle_Milner) #### Post date: [September 15, 2015, 4:20pm UTC](https://www.mineralrightsforum.com/t/extension-of-lease-offer/6619/5 "2015-09-15T16:20:59Z")
Could you give me the contact name with Shell? I have only talked with Doug Ferguson in Midland. He is a land man and he told me several months ago they were on hold until the oil goes up. Richard Milner We did a top lease on some land on Section 135 several months ago with Shell. ---
### Author: ![system](https://www.mineralrightsforum.com/uploads/db5755/original/3X/6/c/6c7c56608c843272ad6e3662ce9562a5956f173e.png) [@system](https://www.mineralrightsforum.com/u/system) #### Post date: [August 14, 2018, 11:37pm UTC](https://www.mineralrightsforum.com/t/extension-of-lease-offer/6619/6 "2018-08-14T23:37:07Z")