This is my first question. I have with my family a interest in Coleman, Okla. Section 13,Township 5 S. Range 7 E. Has anyone heard anything?
Marcia,
I haven't actually "heard" anything but I can tell you that lease offers have jumped from $175/acre to over $500/acre in a matter of months. I'm currently negotiating with Continental Land Resources, LLC out of Edmond, OK who is working for Chesapeake Exploration, LLC. Their current offer to me is $600/acre and 3/16ths royalty. I frequent the courthouse a couple times a week and have noticed an increase in Landman activity. Also, there has been many wells drilled and hit on the South side of the Washita River here in Johnston County over the past two plus years. Extensive 3D seismic testing a little over a year ago followed by a pipeline project along Highway 1 is not just coincidence. I know there is currently I processing plant being constructed near here but I'm not sure exactly where it is.
I have also been contacted by Centennial re Section 32, 11N, 24 W, similar story concerning the jump in royalties.
This seem to reflect a rise in general interest.
Rec’d an offer to lease for $600, 3 yr, 3/16th RI in Sec 28, T-4S, R-4E in Johnston County. Is a 1/5th RI possible for this area???
KC, I have found a lease on file at Johnston County Courthouse where the lessor negotiated some nice lease terms including 1/5 royalty on an 80 acre tract in my section (10 4s 5e). I would almost bet my land that they had an O&G attorney negotiate on their behalf because the lease is sweet to the lessor. Money well spent if you ask me.
Thank you for the information!
Billy Asbery said:
KC, I have found a lease on file at Johnston County Courthouse where the lessor negotiated some nice lease terms including 1/5 royalty on an 80 acre tract in my section (10 4s 5e). I would almost bet my land that they had an O&G attorney negotiate on their behalf because the lease is sweet to the lessor. Money well spent if you ask me.