M_Barnes, thanks for sharing your information. It is always so very helpful and appreciated.
My big curiosity with this is….
With a well this small, it seems like handling the lease and negotiations is much different than with a big horizontal. Since it’s only spaced at 10 acres there is low number of lessors involved. It’s not exactly a well that is going to generate third party interest, so hard negotiating deductions and other Exhibit A clauses isn’t likely to turn out favorably as the operator doesn’t really have any competing interests.
Is some of what I’m thinking sensical or is it a bit presumptuous on my part? Cuz this sounds like waiting for the pooling order is most likely the best case scenario, as the operator is not going to offer better lease terms than state mandated. And with a few 3/16 royalty interests already signed, that royalty would be available at pooling with the state required lease terms.
With only recently inheriting minerals, I’ve had experience in signing one lease and it was for a new 2-mile horizontal. This seems much different than that.