Anyone have any idea of the going lease rate here? Mewbourne is proposing to drill a Redfork test here and and already has a Baker well permitted right next door for the Cherokee in 07-13N-16W at about the same depth. Mewbourne and others are activly leasing.
There are poolings pending in sections 1-13N-7W (202100804) & 7-13N-16W (202100565 and 720), so when the orders come out, you will have a feel for the offering amounts. Mewbourne is filing 25% leases in section 12. Yukon filing 3/16ths. Mewbourne and Yukon are both filing cases in 12.
Thank you Ms Barnes. Hadn’t thought to check for pending pooling orders yet but I’ll get on them right now. Mewbourne is making first offering of $500 for a 3/16th and nothing for a 1/4 in sec 12 but I imagine they are actually paying more.
Fred- The Cherokee is a formation Group of which the Red Fork is a part.
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