I am trying to determine an average lease bonus per acre for a 3/16 interest for S22 T7N R2W. I am also trying to determine any current activity for the same parcel.
Limerock is very active in drilling horizontal well in that township. They have a rig on site in section 17 drilling in 17/20/29 right now.
If you are getting 3/16ths offers, you might want to ask for 1/5th and 1/4. Quite a few leases have been filed in the township with 20%, 22.5%, 25%.
It is likely (not promising) that more than one well will be drilled, so I always want a higher royalty whether there is one well or many wells-especially many wells.
Bonus amounts are not public knowledge unless folks share their offers. The closest public information would be a pooling order within the last year in the contiguous eight sections. I do not see one posted yet although may are pending.
If you have not leased recently, it would be very wise to get a good oil and gas attorney to look at any draft lease. They are rarely in the mineral owner’s favor and need some significant changes.
I checked the 9 spot and the last pooling I found was 28-7N-2W at $300 & 3/16th (Limerock)
Thank you for your information
Thank you for your reply. What is the “9 spot” and what date was that pooling? Also is there a way for me to edit my original post?
The pencil icon can be used to edit. The 9-spot is the section in the middle and the eight sections that touch it directly or catty corner.