A little help with current lease values in Section 6, Township 9N, Range 4W and Section 31, Township 10N, Range 4W. It’s a horizontal well starting in 6 and going into 31. I own minerals in 31 and thanks to my depth clause I am the only one not currently held by production in my Section. So I am struggling to establish an expected starting value on leasing. Appreciate any input!
Lease bonus amounts are not usually public, but the pooling amounts are, so they are a handy guide. Lots of pooling are pending around you, so the interest is high. 19-9N-4W was pooled for $4000 3/16, $3000 1/5 or $0 1/4th in August 2018. EOG pooled 20 for $6000 3/16, $500 1/5, $1500 1/4 in October 2018. I heard of an offer for $6250 3/16ths $5250 1/5 for Section 10-9N-4W. That kind of gives you a range.