I have been contacted by Lumberjack Energy LLC about leasing my mineral interests in Gaines County but have held off due to some of the concerns expressed in this Forum. I found out that Ring Energy is active in this area and that there is apparently some connection between Ring and Lumberjack, as a Jared Shoemaker appears to be a principal for both. My guess is that Lumberjack is acquiring leases for Ring. Found this announcement on line:
April 17, 2017
Ring Energy, Inc. announced today that it has acquired approximately 33,000 undeveloped acres in Gaines County, Texas, for an approximate purchase price of $16,600,000 .
Hello,
I too have been contacted by them and also have concerns. I wonder what they think is going on in Gaines when it doesnt appear anyone else is paying any attention.
I have over 300 acres in Gaines and have not been contacted by anyone else so hum??
We are still trying to figure out what to do. Can I ask how much they offered? Ours is $650
Lumberjack offered me a bonus of $450.0/nma, a 1/4 royalty, and wanted a 2 year option to extend a 3 term primary term lease. I did not accept and am in discussions with Ring Energy about a lease. I will not grant a 2 year option extension, but 1/4 royalty is acceptable and the proffered bonus seems to be in line for the area, far less than what has been seen in the Delaware Basin area. Ring explains to me they are not drilling into shale and looking only at the San Andres formation.
I was contacted by Byrd Land Services representing an unnamed O&G company. They offered $500.00 a nma, 25% royalty and a 2 year option to lease at $400.00 a nma. Something is going down in Gaines County. They contacted me and I wasn't even aware I had any interests there.