Is there any harm in returning the Bonus Option letter with one of the five options selected at this point?
Waste of a stamp. If you want to lease contact the landman immediately. If you want to pool, just wait.
Exactly M_Barnes. No need NoBS. There will be a pooling application coming before long and if your name is on the Respondents list, you will likely get calls/letters from others wanting to lease your interest. Those are likely going to be offers greater than what you have in front of you.
It’s difficult to know which is the better path… Pool or Lease when you have neither to compare. But if you are saying that the Certified $5 buck letter from CPR Energy is a waste to respond to, then I shall slip back into my relax mode and wait for more stuff I probably wont understand. But I do appreciate the help.
N
Todd, you mentioned they TD’d last week and were setting producing casing on the day you posted - this seems like pretty specific information. Is this type of information available somewhere publicly? Very insightful, thanks!
Hey M_B,
I have read several times that you sometimes lease and sometimes pool. I have recently been contacted by a Land Advisor from CPRP Services, LLC wanting me to lease. They sent a lease for review. He said that they are not sure how far out the Pooling Order might be. Their “carrot” at this point is $400/AC, expedite the bonus due and get the ORRI set up through division orders ASAP. If it is true that the Pooling order is still sometime in the future and not knowing what it might include, would you still want to wait until it is issued and have something to compare to? I have no particular want either way. The expedited bonus payout is not critical to me. Mr. B seems to think other offers may be forthcoming that might be better than this lease attempt #1. What’s the up and down side to waiting? This new lease is to satisfy the depth clause of the original Indultado lease. Feel free to weigh in on this Mr. B!
NoBS: Their “carrot” is nothing more than a piece of celery. Your interest is NOT subject to anything now, so sit back & relax. Forget about a Pooling Order. They haven’t even filed an Application yet. There is upside and no downside. The well has been drilled and production casing set so a pooling will only be a formality. Casillas is drilling the 2nd Mississippi well now.
I am most interested in making sure that my interest (and that of my family members) for any new depth wells (which 2WXH is) is optioned at 1/4 and not 1/8 or 3/16. How does that work without either a lease agreement or pooling option? TKS
Again, you will have that opportunity when an application is filed. Nothing for you to do until that happens.
NoBS: Casillas has completed the drilling of the Indultado 3MXH. TD of 21,822’. They are setting production casing & will probably have the rig moved out in a couple of days. My guess is they will start completion activities in 60-90 days. This is the 2nd Mississippi well in the unit. So back to relaxing for you.
I’m about relaxed out Mr. B!
So, does this about do it for sections 21-28? All proposed wells are drilled?
BTW - I got another email from Osage Oil and Gas wanting me to lease. They stated that they do ALL the leasing and title work for Casillas. Is that true? ALL?
tyvm!!
They have one more well for the Woodford to drill. Not sure when that is going to happen as they have lots of wells in this area to drill.
As for Osage & Casillas, I don’t know. No need for you to lease until a pooling application is filed & order issued. I’m positive you can get better terms than what you are being offered.
This topic was automatically closed after 90 days. New replies are no longer allowed.