I just received a lease offer from Verde Operating LLC OGI for $1,000 per net acre at 25% royalty. Wondering if anyone else is getting offers similar to this. We haven’t had action in Frio County Texas in quite some time. Curious to know if anyone else has received an offer and what terms you are seeing in terms of lease bonus and royalty rate?
That’s the first offer I’ve heard for Frio County in awhile. What part of the county are the minerals located in? Abstract?
1 Like
Hi. I’m not sure what part of the county? Here is the land description: San Antonio Ditch Company Survey 1104, Abstract 727 and Baltasar Soleto Survey 323, Abstract 596. Burleson 1H
If I were you I would call Formentera Oil and Gas. Try Stephen Unger at 405-431-5897 He is a landman there. Formentera has 3 rigs drilling that exact area today, and they have roughly 100,000 acres leased in Frio County.
You should shoot for 3 x what Verde has offered and 25% royalty.
Good luck,
Thank you Ken. Appreciate the recommendation.