Lease offer from lumberjack. What do I do first? Have read so much I am more confused than anything? Would appreciate any help you can provide me with. Looking after my elder mother who owns over 300 acre and I want to help her if I can.
You would probably not try to do your own appraisal and legal work if you suddenly found yourself selling a piece of real property which might be worth more than a million dollars, right? I suggest you get an attorney experienced in oil and gas law to assist you with the lease. 300 acres is a significant amount of land/minerals. What is the percentage royalty that has been offered? Do you mind sharing the general location in relation to distance north,south, east, or west of the City of Seminole? Or provide the specific block and section or abstract number of your mother's acreage and I or another forum member can then generate a map showing your property and nearby producing and permitted wells.
have heard conflicting stuff re LumberJack.. I was offered $500. on my minerals(not from LJ)
What is triggering all this interest in Gaines County?
It depends on where your minerals are located. Gaines is a big county with multiple formation targets.
You might locate your minerals on this map and then examine producing and permitted wells in your vicinity. You might also ask the company which has made you the offer.
The completion depth of a horizontal well drilled on your section was 5000' which seems to correspond to the San Andres. There is a lot of interest in the San Andres these days. You minerals are also near Wolfcamp production.