Oil lease bonus rates in Gaines County TX?


#1

I’m getting a lot of offers for some mineral interest I have in Gaines County I’m not new to the game I have a lot of minerals and glasscock County and loving County I’m used to getting about 10,000 to 12000 + acre on a bonus all I can seem to get in Gaines County is about 700 per acre is this about right? Seems insanely low to me. I’d appreciate any answers I’m just out of touch with Gaines County and I don’t know anybody doing any business up there.


#2

It looks like Ring Energy paid $755/acre north of Seminole in this lease. I wonder if the lease’s “no deductions” language would prevent post production deductions for a non-governmental lessor? U.S. Lease Price Report is a subscription service. Ring Energy and Oxy have leased and appear to continue to be leasing a considerable amount of land in Gaines county. See the Ring Energy corporate presentation. Why bonus rates on the Central Basin Platform may generally be lower than those on the Midland and the Delaware basins is a good question. Have any of the oil companies/ land companies that have approached you offered development details? San Andres? Clearfork? Horizontal drilling? EOR?


#3

I am curious also. We have been offered $400 per acre and our property is between Seminole and Denver City. It seems really low. Any thoughts