Got a letter from Marjo Operating Mid-Continent offering me a 1/8th royalty & $150 bonus or a 3/16th royalty and $100 bonus. The letter says they are “planning to reenter the Harvey 1A” in Sec. 10 and that they had successfully drilled in Sec 15 in 2015. Does anybody know what the average bonus is now in Pottawatomie? The $100-150 ranges seems low.
That range is reasonable. Pottawatomie is not in the big horizontal oil well territory. This is a vertical well. The closest pooling near you was in 2017 in section 8 near you for $175.00 1/8th and $125 for 3/16ths, so see if they will give you the $125 and 3/16ths. They may not.