Currently, we have ~325 net acres (Campbell County) that are being leased to Mallard Creek Oil (TX).
The 5-year 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…should we seek another lease or search for a buyer?
Andre,
It all depends on what area of the county your minerals are located in as well as your reason for considering selling. What is the Section/Township/Range of these minerals?
Correction/update:
Please re-read my original post. I have included property information plus two (2) questions.
If you can answer those questions, that would be very helpful moving forward.
About 6 miles to the south of you, are some new HZ well permits.
thanks Steve
s34 T42 R74