Then can I write in $300.00 with 1/4 royalties and sign the offer and send it back? Or do I send a letter?
Which offer should I take??? $275/acre bonus with 3/16ths royalty for 3 years, or $250/acre bonus with 1/5th royalty for 3 years, or $0/acre bonus with 1/4th royalty for 3 years?
The 1/4
Phillip for 12% interest
G. Win, A third party lessee will give you a bonus amount over $200 per acre and 1/4th royalty. I’d ask for at least $300 per acre bonus plus the 1/4th for no more than 3 years. Devon has a pad in Section 8-19N-01W right now and will run laterals into Sections 17, 16, & 5. There are well logs from old wells in surrounding sections showing production from the Miss. The Woodford and Sylvan are there and sometimes the Miesner shows up also.
Thanks Ron!!! That’s what I will do!!
Thanks Ron just what I need… !!
G. Win, It depends on who made you the offer. If it was Devon they are not known to negotiate. You will need to contact a third party lessee and they will negotiate with you. I’m not a 3rd party, but friend me.
A landman company for Calyx
Received division order for Township 11 North-Range 4 East. Did anyone receive it?
What do I have to check before sending paper back to them?
Thanks.
I don’t know what the lease upfront is. In Logan/Crescent, I offered to go no upfront and more royalties, but for some unknown reason ended up with $350, I think it was. Wish now I had held out for zip. Interesting tidbit of information I think would be useful is that Ruffed Grouse came in June '13. Hearsay has put production at less than 50 bopd, but no one I know of has seen anything on production, etc. But first of this month, March '14, I received 2 more offers in the U.S. Mail, one offering to purchase my minerals for $2,500 per acre. Plus I still have an active offer from a company in Texas for $3,500 per acre. Plus I am getting email now, never have before, wanting to purchase my minerals. So, is Ruffed Grouse a low producer or is something else working here? I believe it is definitely something else.
What is the fee for an oil and gas attorney?
Kunal did he take care of your D.O. question?
I had an O&G attorney that charged $400 an hour once, others around $250 an hour.
G win it depends my attorney charged me $35.
Am sorry if it has been answered before but is the oil being produced in Payne County sweet or sour?
Payne: Devon Energy Production Co. LP; C. Winney 36-19N-1W No. 1WH Well; SW1/4 SE1/4 SE1/4 SE1/4 (SL) of 26-19N-01W; 75 barrels oil per day, 57,000 cu-ft gas per day; TD 10,800.
Devon Energy Production Co. LP; Oltmanns 1-20N-3E No. 1WH Well; NE1/4 SW1/4 SW1/4 (SL) of 01-20N-03E; 8,000 cu-ft gas per day; TD 9,061.
Just own minerals not surface. Devon assumed my lease. I believe production will pass the income from a sale in about a year. Sooner Mineral Investment is who offered $2200 per acre. Arbuckle Mineral has sent several letters wanting me to sell. I believe it was Ron that said never sell your mineral rights. I agree, never know what may be down there. Could even be uranium.
I have a signed lease for property in Section 28, Township 20N, Range 2E Payne County. I have received two letters offering to buy the lease, one is for $2200.00 per acre. Is this a good price? I know nothing about oil leases or what to expect if they drill on the property. My husband and I are both in our 70s and maybe we would not be around to realize anything from drilling. I am in a quandary trying to decide what to do. Can someone give me some advice? It would be greatly appreciated.
Sandra, did you lease or sell your minerals and are the letters offering to lease or buy your minerals?