Leasing in McClain E2 Sw/4 Sec 17


#1

Have been contacted by a company to lease property. Need to know what competitive lease bonuses (3/16 royalty or other) for this area or near by properties. Thanks for help in advance.


#2

You need to include the township and range, there are a lot of 17’s. Such as Sect. 17 5N 1E, for example.


#3

Probably S17 5N 2E


#4

Yes, S17 5N 2E


#5

Do you mind saying which company, I have some in 5N 1E I would like to lease!


#6

Last time I leased in 17 it was for $200 3/16. Ranken Energy and EOG are leasing nearby.


#7

Thank you M Barnes…. That his very helpful. Some initial offers I have received were less and therefore not attractive.


#8

Is 1E less attractive than 2E because of the uplift?Is NG still a target here?


#9

17-5N-1E is more attractive than 2E because there is a little bit of Woodford that is about 200’ thick in 7, 18, 17, 19 and 20 of 1E. The surrounding sections are thinner. The Woodford is absent in the southern tier of sections in both 2E and 1E and goes farther north into 2E. My lease in 17 is in 17-5N-1E. 17-5N-2E is on the edge of the uplift and may have no Woodford. There was old Viola oil in 17 in the NW4 a long time ago.


#10

Thanks for the insight. I have some in 17 and 20. Those stay leased ! I am ready for some drilling and production!