Hello-- Just received a lease request for minerals I own west of Madisonville. 1/5 royalty - 3 years plus 2 year option at $400 per acre. This property had a heck of an oil gas well that finally gave up the ghost 10 years ago. Any advice, et cetera. THANKS.
Joe
3 years only 1/4 royalty and get as much per acre as you can and lose out on lease.
Lease only to Deven Halcon or EOG.
You da man.
Hope you don’t get left out of a unit based on bad advice. There are lots of players down there who take the biggest money. Don’t get too hung up on a 1/4 unless you really don’t want to lease. Bonus should easily get to $500.
Joe, take your time before you lease.
There is a lot of action going on in Madison County. I don’t know where you are off 1452. Deven just permitted a well on J.W. Mathis.
South side - right on 21 about 7 miles out of Madison. Had great well Bow Valley drilled and Chesapeake wanted to reenter about 5 years ago but never got close to a deal {obstinate assholes}. Harkin sucked it out and basically with my limited info went to a few barrels a day then shut in. Well to west 300 yards and well to west say 1000 yards all dead now but too far away to look.
normfol said:
joe take your time before you lease.
There is a lot of action going on in Madison County. I don’t know where you are off 1452. Deven just permitted a well on J.W. Mathis.
joe dillon said:
youda man