Leasing offers in the area

Township 13 South, Range 38 East Sec 20 … Just a follow up. In 2021 we were offered a $350 per acre bonus 3yrs with a 2 yr option and that went away. Now they are back at $500 per acre 3yrs with a 2 yr option and 1/4. This appears to be an area without much activity but wanted to see if anyone else had better offers or info on this areas potential. Thanks

We are in that Township and Range and haven’t been contacted since holding out in 2021. Who reached out to you?

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Elite out of Midland. Here is the full description All of the N/2SE/4 of Section 20 They apparently ran into problems in 2021 and are just now being given the go ahead to continue leasing so maybe they will be getting in touch.

Thanks. The wells drilled in that area have had mixed results so far, so it might be becoming a take what you can get situation.

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Hi Joe,

We have section 23 T13S, R38E leased and producing 4 wells with a new application to drill. Section 23 has been very productive in oil and gas. May want to counter the 500 and the 2 year option. At least double. We don’t do 2 year options. If their serious about drilling the company should be willing to negotiate. My 2 cents.

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Great info. Thanks Rick!

I have rights in that section too! But I have not been contacted.

I don’t think we’ll be leasing for $1000/nma here. We are on the edge of the play. Yes, Steward drilled good wells in section 23, but there’s a reason they’re not willing to extend their leasing program further west. My two cents, but I don’t care much about the bonus as I do getting a 25% royalty and getting it drilled.

Hi Joe, I leased my % in N/E 1/4 of Sec 18 T13S R38 E through Elite in Midland to Vader production?? out of Dallas/Ft Worth in the fall of 23 for $350/acre with a 2yr option. I don’t know who else is on the deed with me but I did find out there are a couple of wells proposed in sec 30 of the same address.

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Hi…we also have an interest in Section 18 that is under negotiation. Nice to meet you.

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Nice to meet you Rick5. Are you working with Elite Title?

Hello Again,

Negotiations are confidential according to the attorney so I cannot say.