# Lease extension
**URL:** https://www.mineralrightsforum.com/t/lease-extension/21412
**Category:** McMullen County, TX
**Created:** [May 8, 2012, 8:23pm UTC](https://www.mineralrightsforum.com/t/lease-extension/21412 "2012-05-08T20:23:31Z")
**Posts on this page:** 9
**Page:** 1
### Author:  [@Charles\_Mudd](https://www.mineralrightsforum.com/u/Charles_Mudd)
#### Post date: [May 8, 2012, 8:23pm UTC](https://www.mineralrightsforum.com/t/lease-extension/21412/1 "2012-05-08T20:23:31Z")
I own 25% mineral rights on 115 acres and it has been leased for almost three years now. The neighbors on both sides of us are starting to drill but our lease is expiring in July 2012 with no activity yet. The oil company contacted us and want to extend the lease for four months at $50.00 per acre. Is this price a real lowball price or is it an average lease extension price? And if I choose to hold out and not extend the lease what are my options?
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### Author:  [@Ben\_Elmore](https://www.mineralrightsforum.com/u/Ben_Elmore)
#### Post date: [May 8, 2012, 9:30pm UTC](https://www.mineralrightsforum.com/t/lease-extension/21412/2 "2012-05-08T21:30:52Z")
Who is the lessee? Are your neighbors getting Eagle Ford wells? What was the bonus you originally accepted?
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### Author:  [@J114](https://www.mineralrightsforum.com/u/J114)
#### Post date: [May 9, 2012, 12:18am UTC](https://www.mineralrightsforum.com/t/lease-extension/21412/3 "2012-05-09T00:18:14Z")
Depending on where you are in the county, but this sounds way too cheap.
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### Author:  [@Lucky](https://www.mineralrightsforum.com/u/Lucky)
#### Post date: [May 9, 2012, 12:53am UTC](https://www.mineralrightsforum.com/t/lease-extension/21412/4 "2012-05-09T00:53:27Z")
Can you give more information about the location of your property?
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### Author:  [@Charles\_Mudd](https://www.mineralrightsforum.com/u/Charles_Mudd)
#### Post date: [May 9, 2012, 1:30am UTC](https://www.mineralrightsforum.com/t/lease-extension/21412/5 "2012-05-09T01:30:57Z")
It is about 1 1/2 miles south of Tilden, I am not the owner I just have mineral interest in it.
Lucky said:
> Can you give more information about the location of your property?
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### Author:  [@Charles\_Mudd](https://www.mineralrightsforum.com/u/Charles_Mudd)
#### Post date: [May 9, 2012, 1:36am UTC](https://www.mineralrightsforum.com/t/lease-extension/21412/6 "2012-05-09T01:36:01Z")
Swift Energy, not at the moment but they are fixing to drill on both sides of us. 500 per ac.
Ben Elmore said:
> who is the lessee? Are your neighbors getting Eagle Ford wells? What was the bonus you originally accepted?
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### Author:  [@Lucky](https://www.mineralrightsforum.com/u/Lucky)
#### Post date: [May 9, 2012, 10:55pm UTC](https://www.mineralrightsforum.com/t/lease-extension/21412/7 "2012-05-09T22:55:14Z")
Your location is very close to mine. If you would like to talk directly, “friend” me and I will send you email.
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### Author:  [@Chuck\_Oliveira](https://www.mineralrightsforum.com/u/Chuck_Oliveira)
#### Post date: [May 11, 2012, 9:19pm UTC](https://www.mineralrightsforum.com/t/lease-extension/21412/8 "2012-05-11T21:19:52Z")
I would review your contract. Most contracts give the lessor the option to extend the lease an additional 2 years. They do have to compensate you an additional check, however. Additionally, if you only have 25% mineral rights, you need to be sure the rest of your parties are agreeing as well. You may only be getting $50 because it is divided by however many are involved. Have you had a UPO completed clearing your ownership rights? It’s usually a 90 day process and an affidavit must be signed before any rig teams move onto your place. Until that is finished, your 115 acres will be listed as “red.” The affidavit, once cleared by Swift (or whoever else’s) attorneys will switch your plot to “green,” allowing rig teams to move in.
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [August 15, 2018, 3:45am UTC](https://www.mineralrightsforum.com/t/lease-extension/21412/9 "2018-08-15T03:45:28Z")