We are experiencing the same reaction from Carlisle. Standing firm at $500. I see that I do have something coming in the mail today from Vertical Energy. But they have mostly put out low ball offers to buy not lease. Hate to take such a low offer from Carlisle.
Would you explain why you don’t take the “option to extend”? That is written into the offer we have currently from Carlisle and 3/16 royalty. I’d appreciate your take on this. Thanks!
The “option to extend” is totally in the leasing agent or operator’s favor. Who knows what the market will look like three years from now? Could be high, could be low. It prohibits you from getting other offers at that time. Many options do not even offer to pay. To me, it implies that no one is in a hurry to drill and it is speculation. I would rather lease twice or get someone else to actually drill. I refuse all options to extend.
Thank you so much for making that clear. I appreciate your response. Our Mineral rights are in Caddo, 17-10N-9W. Carlisle isn’t offering any wiggle room. Lowest offer we’ve received. I’ll see if we can at least get that option removed. Thanks again!
Did the lawyer you were talking to about Caddo County work out? Would you feel OK to send me his / her contact info? Thanks.
We use Richard Winblad whom contributes often on this site. He is great. Dean
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