Oil & gas discussion group for those interested in Mitchell County, TX. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
Can you say who with? We got $500 and 20% so that sounds like a really good deal to me.
Martha, about where is your land located and are you signing with an operator or speculator. You asked for comments - that sounds like a good deal, one of the best I’ve heard, so congrats and good job!!!
I am about to sign a lease for $550. per acre and 22% royalty–any comments?
finally read paper, ty wood, said some areas are $800, any one know where
We signed with Mitch McCarroll who said he was representing Firewheel. Also, had same offer from Stevens and Tull.
Location: East half of the NW Quarter and the SE4, containing 240 acres in Section 47 Block 26 of the Tx & Pacific Ty. Co. Surveys in Mitchell Co.
Thanks for the info Martha. You went above and beyond with the location description, I was just wondering the general area…N of 20 3 miles and halfway between C City and Loraine…, or something like that. Glad you got a good deal and best of luck.
Pls let me know if you hear anything about Fisher or Taylor Counties!
I’ve heard the most desirable land is south of 20 near Champion Creek Lake, but that is just what I’ve heard. $600 is the highest I’ve heard and that was from speculators, not operators. I am 4 miles north of 20 between Loraine and C City and I sure would like to know more also, as I have not signed yet.
It depends on the size of your acreage. How many acres? Block and Sec # would help
480 acres. Sorry, I don’t have a more specific location available to me. Thanks for any input. This is all new to us.
Who have your offers been from. I have property in that area too
Wondering what land is leasing for around our place? We have land just north of I-20, along FM 1229 and CR 204. We’ve had some offers, but aren’t sure what to think at this point.
Wildcat, LMB, and KEW are the ones I can remember. I’m researching for family members so I don’t have many of the details yet. Just trying to get a feel for what’s happening in our area.
Fay, KEW is trying to play with numbers, Wes called your dad and left a message, they gave us a lease showing $450 and 20%, please have Don call Wes tomorrow, there are a couple more on the table, a bunch of us land owners are trying to stick together and get a better deal, which is what they are all negotiating for, then when we all get a good sound lease to each take it to our attorneys. to look over.
Thanks so much Rebecca. Will do.
Martha, I just joined the group and am delighted to read first thing about your good lease offer. My cousins and I own a half-interest in 640 acres about 4-1/2 miles WSW of your property, and were recently contacted by KEW. Haven’t received their offer yet, but hopefully all of Mitchell County is about to receive generous new leases! Congratulations to you.
ok looks like we are signing $550/25%
To me, the royalty is the most important. I want the bonus to be market based but I am focused on the royalty. That is where the “real” money is (potentially).
Why isn’t this play and leases comparable to other new plays like the utica and eagle ford. I believe that west texas owners are just accustom to low bonus prices. I understand that the wells may not be as productive but the difference in bonus price is rediculous. Lets get the bonus price up into the thousands per acre like other areas. People at one time leases in the barnett had offers of $30,000 per acre and 25% royalty.
Best offer I have had in Mitchell count is $600 an acre. Lets demand more owneres.