60 acres in section 12-23N-13W. Is this worth anything? The lease expires on June 3rd, 2027. I guess I should try and sell it to an oil/gas developer?
There are 3 old, active wells in the area. Two gas producing wells, one in the northwest quarter of the southeast quarter of the northwest quarter and one in the northwest quarter of the southeast quarter of the southeast quarter of that section, both permitted in 1987. One oil producing well was permitted in 1997, and is in the northwest quarter of the southeast quarter of the southwest quarter of the section. There are 3 plugged/abandoned gas wells in other areas that once belonged to Chesapeake. You might consider waiting to see if you’re offered another lease.