Dark Horse Energy replied to my request for $250 bonus and 3/16 royalty that they would not go 3/16 but would give 1/8. When I turned that down, they said I would just have to wait for forced pooling then. Has anyone heard if they have filed for pooling on 17-16N-09E.
They have signed far, far more leases for 3/16th than 1/8th in Township 16 North, Range 9 East. No pooling filed yet. No poolings in Township 16 North, Range 9 East at all from 2012 to now. The terms of your lease are also very important.
Thanks Ron. I would rather have a 1/5 or 1/4 and no bonus. Are the bonuses going more than $150 with the 3/16th? I had a relative say that I would do better with the pooling so I should not sign anything yet. Is that often the case? What terms should I be asking for?
I would not be in any hurry. You need a no deduction and depth clause in your lease. Do not give option to extend. If you can’t get this wait for the pooling. There are some new players coming in to Creek County and they are there to drill horizontal wells.
Do not take 1/8 under any circumstances.
Ron is right, horizontal players are moving in. Slow down and wait. $150-$250 seems to be the range in the area. This is a developing play. Wait for the FP. No guarantee of 1/4 though.