Received lease offer with bonuses that indicate something must be going on? I don’t normally take the first offer, but curious what’s up so I know how high to go.
There are quite a few permits to drill horizontal wells in that township.
If you are getting 3/16ths offers, you might want to ask for 1/5th and 1/4.
It is likely (not promising) that more than one well will be drilled, so I always want a higher royalty whether there is one well or many wells-especially many wells.
Bonus amounts are not public knowledge unless folks share their offers. The closest public information would be a pooling order within the last year in the contiguous eight sections. I do not see one posted yet although a few are pending.
If you have not leased recently, it would be very wise to get a good oil and gas attorney to look at any draft lease. They are rarely in the mineral owner’s favor and need some significant changes.
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Thank you. They offered at $1650 per, 3 yrs,3/20th, $1450 at 3/16th or $900 at 1/5th.
If it were me, I would ask for 1/4 and see what they say. Otherwise, I would take 1/5th and get an attorney to review the draft. If activity is high, you may get more than one offer.
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I keep getting offers there as well. I’ll look for the most recent and post it here.