Own 160 acres in Cheyenne County. (Township 16 South - Range 51 West, 6th P.M. Section 20: W2) with 1/2 interest of mineral reservation W/2 20-16-51.
Leased the acres to Westphal Engery LLC in 2011 for $65 acre. (5+5 lease). How can I find out if there are any plans to develop or produce on this property?
George:
I'm not familiar with the area you mentioned but can add some info to your question. First, is the area or areas nearby currently being produced? Has there been seismic work in the area? Somebody must see an interest in the area since you were leased but it is hard to tell if or when the area will be developed. All you can do at this point is keep abreast of what is happening in your area. If you click on "Groups" above, find your State and then click on your county, you can see what others in your area are experiencing. Good luck.
5+5 lease? Wow, that's a long time. They could potentially take 10 years from when you signed to even start a well if the exercise that option. I would never agree to a five-year option unless I received at least double the original lease price if exercised, and frankly would rather just not have the extension since lease prices can rise quite a bit on "hot" areas in five years. It's often possible to negotiate the extension away and I would recommend doing so if you get the chance to lease again.
The governmental regulatory bodies for most oil and gas states have a website available to the public where one can search by legal description/county etc. for activity such as drilling permits/production etc. Most will NOT include leasing information as those are generally filed with the county clerk's office (some of which also have their records available online.)
Another option might be to contact the company who leased you and simply ask them what their plans are for your area.
Hope this helps you out.
Frederick M. "Mick" Scott CMM, RPL
Manager; The Mineral Hub