Please, will someone shed light on this sec. 31/8/8 Grady County, are they proposing drilling in this sec? Are these the going rates for this section as the letter said they would beat anyone's offer by at least $100?? I have observed Chesapeake is on the docket today in Sec. 30/6/8; and Vitruvian is working in that sec. too. Please any insight is so beneficial as I have learned so much from all of you! Thanks in advance....Patti
Offered $1750 for 1/8th, 1500 for 3/16; 3 year lease in sec 31/8/8 Grady County. Can anyone shed light for me as to if they are planning drilling in this sec?
There is still leasing going on and they have extended the leases that Continental took a few years back, but there are no applications to drill at this time.
Continental was spacing back in 2013 and with them extending those leases someone is betting they are still going to drill. As to the going rate for leasing in that section I can't help you. I would hold out a little longer unless you need the cash. See if they are offering anything for a 1/5 lease and if they will accept depth and no deduction clauses.