Oil & gas discussion group for those interested in Milam County, TX. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
We have been approached by a couple of different land men for an oil & gas lease. Does anyone know what is fair bonus money now? We haven't had a lease for a few years now. We are in Milam County Texas off county road 364.
I would be interested as well as I have some deep rights in that area.
Does anyone have any info on the going lease bonus and royalty rates in Milam County? My property is just east of Gause.
Hey Neighbors. My wife and I have 16 ac in Milam County just north of the Milam-Burleson county line, east of Hwy 77. We plan to build and retire there in the next few years. Oil and gas activity in the area is of considerable interest. I am not well-educated at this point on mineral rights, leasing, and also the technologies and potential risks. I hope to learn from/with you on this website.
Milam County Landmen ??
Does anyone know what companies are leasing in the county and who the landmen are? I have 255 acres SE of Gause that had been leased by Wagner OIl and the three year lease expired and the renewal option was not exercised. I was contacted by XTO Energy who had leased 48 acres near Milano from me in October about this 255 a week before the three year lease expired and expressed an interest in leasing it. But I've not heard from them since so I'm thinking I would like to contact any other company that's leasing in the county and see if they would have an interest if I drop the price from the offer XTO made down to $350.00 an acre for the first three years and 1/4 of the minerals, or $400.00 an acres and 1/5 of the minerals.
So if anyone else knows who other than XTO Energy is leasing please post it or send me an email.
Dennis -- Although it doesn't sound like you're still talking to XTO, how much did they offer as a lease/royalty rate?
I heard XTO has been in the area recently @ $400 and 20%
I was advised to have an idemnification clause added to the lease which would protect the lessor from liability resulting from damage or contamination caused by the horizontal drilling, fracking process. There are several places around the country where the EPA has gotten involved when water wells were contaminated resulting in cleanup expense, damages and fines. Are others requiring this type of clause be added?
Company has expressed interest in acreage in SW part of county. Offering $150 an acre will go to $250 with a 2 year extension. 20% royalty. Anyone had any recent offers for comparison? I don't like the extension and the $150 seems low to me.
That sounds low, XTO and a few others have been pretty active in the area recently, bonus of $300-400+ and 20% royalty.
I have mineral interests in the Gause area. I see that Allied Energy just completed a well about 5 miles southwest of Gause and hydrocarbon "shows" of the Eagle Ford shale formation were present. Is anyone seeing a pick up in leasing activity?
Three years ago XTO was paying $400 an acre for 255 acres 3 miles South of Gause, Have no idea if they will pick up the two year extension in January or not. I'm kinda hoping they don't and I can sign another lease for $500 an acre or more. There's production within two miles or less of my property to the East, South, and West. I kept hoping they would drill mine but no luck for the last 3 years, maybe in the future as activity has increased around me.
If any landman reads this you might want to contact me in January just in case the two year extension isn't picked up.
We have a tract located in Milam County out of the Juan Jose Acosta Survey in Abst. 1 in which we received a minimal offer ($15 pna) and a 1/6 royalty. This seems very low to me. Are others receiving offers in Milam County? Thanks!
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