Currently, we have ~325 net acres (Campbell County) that are being leased to Mallard Creek Oil (TX).
The 5 yr paid up lease expires in September 2018.
I have called MCO once a year to see if any drilling has been done. Nada. No permits have been pulled either.
We were paid close to $200k for the paid up lease with an 18.75% royalty.
Ultimately, what factors should be considered when our lease expires…she we seek another lease or search for a buyer?
Thanks for any feedback.