After roughly 9 years without a lease I was just contacted by a land man wanting to discuss a lease. Considering how much time has passed, can anyone provide a current rate for a lease in Live Oak County? What seems to be the going rate?
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Hello Rusty, lease rates can vary based on location and lease clauses. Can you tell us what area the lease covers and the terms, e.g. 2 year primary with the option to extend for X years, All depths or depth restricted, etc. This information will assist in giving you a more accurate response.
Lori
The property is on the dry gas side of the Eagle Ford. We do not have a formal offer but before that happens was wondering what people were getting.
I know this was several years ago, but what bonus lease consideration money did you end up getting. I’ve been offered a lease and have no idea what to ask for.
Turns out we were never offered a lease. We’ve been waiting patiently until now, when I was called by a gentleman representing a company that would like to reopen the existing wells on our pool. He’s offering the same terms that we had on our previous lease ($200 acre/ 3/16 royalty). Our lease is currently being reviewed by our attorneys in George West.
Rusty - do you have a recommendation for an oil and gas attorney in George West? We need someone local and trustworthy to review a lease. Any help would be appreciated.
FYI - We got a Landman offer recently. $750/acre bonus and 1/5 lease. 3 yr primary term with 2 year extended option.
I use Schneider & McWilliams in George West. Would you mind sharing the name of the land man who contacted you?
Rusty - it was dalton.w.hamilton at gmail , who was acting as an agent for Tilden Capital. Thanks for your advice on the law firm!