My family have 99 acres in section 18 8N 7W . We were in the process of leasing the land to Reagan Smith Energy Solutions. They offered us 2500 bonus payment. Which was to low . They backed out before the court date. They didnt want to renegotiate and pay us what the FMV. Has anyone received offers from this company. Anyone have land on section or near and how much bonus payment did you receive.
Are you talking recently or in the past? 18 was pooled in August of 2018. If you name was on the pooling order and you did not answer within the 20 day time frame, you were probably assigned the 1/8th royalty option. You are right that their offer was way below market value. You can look up the pooling orders on the OCC website. OAP You are looking for case 201706125.
Recently . i received the offer and lease forms in november 2018 for section 18. Same company we leased our section 29 last february 2018.
Do you think other companies are gonna want to lease since they backed out. We had another company that we were gonna lease too before Reagan Energy solutions. We did all the leasing forms and even got paid the bonus but they took over… Now they back out.
Did you sign the lease forms and have them notarized and were paid a lease bonus on 18? Or did they pull out and you did not get a bonus. I see a whole bunch of Battiest family listed on the pooling order. Each one of those needed to respond to that pooling order back in August of 2018 within 20 days. If you did not, then you will be assigned the lowest royalty. The leasing is done except for some rare stragglers. There is a well planned for that section. I see several Battiest leases that were filed. Whose name is on the lease you thought you had?