My sister had a call from a landsman representing a company called Fusion Oil asking if she was interested in leasing her mineral interest in Section 6 10N 11W. He did not mention terms and I have not reached him on the phone yet. Several family members including myself have interests in this section, so I wondered if anyone knows whether there is any potential exploration or drilling there. None of the other family members have been approached and we all live out of state.
Your area is starting to heat up and very possible to get a new well drilled in the near future. . Theres certain things you need to make sure to get in the lease so its not one sided toward the leasing company. If you need any help friend me and i will help you with it. Also Mr. Barnes is very helpful.
Thank you Bart. If we hear any more I would welcome some help in getting the right terms in the lease.
Fusion Oil is offering $300 per acre for a 3 year lease with option to renew for 2 years. Royalty at 3/16. Does anyone know whether this is a good offer?
I recently received a similar offer. I would be interested to learn more about if this is a good offer.
We received the same offer from Fusion today. $300 and 3/16 for 3 years and option to renew for 2 years at $300 and 3/16. Our previous lease on the same property expired in 2013 and it was $650 and 3/16. Would really love to have expert input on the lease value in today’s environment.
We are 30-10N-11W
Sent you a request Steve.