Hello everyone. I'm new to this discussion/forum. I have been contacted by a Halcon 'landman' in regards to my property in West Brazos County. Hwy 21 and Hwy 47 area. Does anyone know any information about sign on bonuses, etc... ? Thanks, Ruby
Ruby
It is easier to help if you can tell us survey and abstract where your property is located.
T. F. McKinney Survey ... abstract?
The McKinney Survey is a good place to be. Halcon has two permits in that survey, one drilled (REVEILLE), and the other not (OL' SARGE). The REVEILLE came on with 1416 IP reported 3/20. Apache is drilling south of you across 47, and there are some good wells to the southwest. All about 3 miles away. I would think bonus should be $1000+ per NMA. I'd suggest you spend some time looking at what a good lease contains and contacting an O&G attorney to help. Congrats.
Ruby, how many mineral acres do you own?
Thank you very much Boris. I've read on this site that pertains to what should and should not go in the lease. I appreciate your help heading me in the right direction. ~ R ~
Boris said:
The McKinney Survey is a good place to be. Halcon has two permits in that survey, one drilled (REVEILLE), and the other not (OL' SARGE). The REVEILLE came on with 1416 IP reported 3/20. Apache is drilling south of you across 47, and there are some good wells to the southwest. All about 3 miles away. I would think bonus should be $1000+ per NMA. I'd suggest you spend some time looking at what a good lease contains and contacting an O&G attorney to help. Congrats.
I'm not really sure how many mineral acres I own. Mr. Conley (Halcon) is doing the research on the property. ~ R ~
6th Generation Texan said:
Ruby, how many mineral acres do you own?
Hey everyone. A couple of weeks ago I read someone's reply to the question of what to look for in a good lease. I tried to find it again today, but I'm not having any luck. Can someone please list the the do's and don'ts again. Such as the part about gross, not net. Royalty, sign on bonus, etc...
Thanks,
Ruby
Did the landman ever tell you how many mineral acres that you have and they want to lease? I recommend the assistance of an oil and gas lawyer or mineral manager. The oil company will not give you a lease that protects all of your interests. Their leases are primarily written for their protection. When you find out your mineral acres, please let us know.
I originally signed with Petromax but the lease has been sold to Halcon. I am up in the Tabor area and I signed a 3 year lease with an $850 an acre bonus and 25% gross at the wellhead. In the past year, the bonus has been between $1000 and $1250 per net mineral acre.