What is going on in Section 2-9N-9W?
I received a letter today from Turner Properties stating that Continental wants to extend my 3 year lease that expires at the end of next month. The letter did not give any offer prices.
Three years ago they gave $300 per acre.
What is the going rate in this area? (Back in May, I received a letter from a company wanting to buy my mineral rights for $1550 per acre. At the time, I was not interested in selling.)
Any information will be appreciated.
Go back to your original lease and see if you had a three year lease or if you had a lease with an option. If you had an option, you may be stuck with the original $300/ac.
The pooling orders in the southern half of the township have been closer to $500-$600/ac. The orders in the township to the north are closer to $1000/ac, so you can see the range. Some limited horizontal drilling in the area, but not heavy yet.
Looks like Continental is trying to tighten up their lease situation in the Section 6.