About a year ago, our land was leased for 3 years at $200/acre with a 1/5th royalty. Now, one year into the original lease, they have returned and want to extend the lease on one 160-acre tract for another 3 years at $150/acre bonus. They have completed a horizontal MSSP well in the two sections to the east, and they both look good.
My question: What are others getting for 3-5 year leases in the section next to new horizontal producers? $400, 600, 1000/acre in Pawnee County?
I got a check for a 50 dollar lease sign bonus, for another 3 years. lol. The rights are divided among a lot of heirs…
Do you know how many acres were involved and/or the total amount paid?
Nick,
I’m only guessing, but thinking more info might help with getting a better answer. Township and Range would likely help some of these folks with access to more information than most due to being in the business. There have been quite a few areas in Pawnee County with different types of drilling. Horizontal in the Mississippian is the most common in my area of interest too, but only one small company has been active and their wells’ production numbers are likely going to be a future lease bonus value indicator. I’d suspect the same would hold true for you too, and Township and Range would help somebody with access find those production numbers.
Just my 2¢ - I’m interested in the answer too. We have leases that potentially may end in February.
Good luck.
I am more interested in all of Pawnee County hence, the absence of location information.
We are around the Maramec-Hallet, New Gulf, horizontal Mississippi play.
Just to revive an old issue - what are the legals on your minerals there?
Thanks!
Various in 20 and 21N- 5 and 6E
Great. Who is drilling near you? And is that the company that’s trying to lease?
I would like to know too. I adjoin Pawnee and Noble counties. My lease may expire before they can drill but the lease contains a provision to extend at a rate of 150% of the first lease which was $225/acre 2 years ago for 180 acres. Your 1000 acres would save them some trouble so it ought to be worth a little more. Hope this helps. This varies but does represent a contractual price in your area. The horizontal wells adjoining you can either push it up or down depending on their production. Have you heard?
New Gulf is the operator drilling around our acreage west of Hallet, east of Maramec.
Results except for Initial Production are hard to come by. I just received my first check from Highmount, and it wasn’t good!
Rainmaker..When did you lease & for how much & what terms. Where are your minerals?
I purchased these minerals and it’s over in Noble. They are on a 3/16ths.