Hi Everyone, I have a small interest in Section 4-Township 1N-Range 5W that I purchased years ago. I have been out of state for over 30 years now and was recently contacted about leasing the interest. Is there anything significant going on in that Section that I should know about? Thanks very much.
Here is what they were ordered to pay in the Pooling south of you.
Thanks so much Ron. I live in the Midwest and your information was a big help.
The terms of a lease are also important. You might get some advice on the forum before you sign.
From your pooling info, the offer appears to be fair. They came at $1500 and 3/16th. I countered and said it would need to be $2000 for 3/16ths just from previous experience and what I could learn in general about the play. That is where the terms sit now. Any advice on shut in or renewal clauses, or anything else? It’s been a very long time since I have dealt with any of this. Thanks.
Continental is leasing. It looks like they started in December 2013. I have mineral interest in the Section and have just been hanging back and waiting to be contacted.
I have seen some offers in the area for $1750 and a 1/5th and also $2250 and 3/16ths.