Charles...some messages are getting ahead of me. I do not know what message you are referring to. I did the friend request and looked at messages but am juggling looking at various spots. Lots to read and digest. Thx
Does anyone know anything about Fortworth Operating Company? They have our existing lease and just offered us renewal for our 320 acres located at T28N R51E and S22&28. Are they a lease hound that is just planning on selling it off or are they a company that actually develops things? Also, if anyone has signed a lease recently near our parcel, please let me know what to expect for terms. Offered $150/acre bonus right now with 1/6 royalty and 4 year term. Seems a little low based on what I've seen here. Lastly, do you have any recommendations on other operators in the area near Poplar that we could shop it around to? I may contact Samson, but who else? Any help would be great.
New to this site, so please take that into account when responding to my first post.
Michelle:
First, I am not familiar with Ft Worth Operating Company but my guess would be that the are in the buy and sell lease business and not in it for drilling purposes. The offer of $150/acre bonus and 1/6 royalty for 4 years is a "lowball" offer and consideration for this offer should be "NO". I'm not sure on the current bonus amount for your area but I'm guessing $500 and up per acre. Furhter, I would not settle for less than a 20% royalty with no more than a 3 year lease term and no extension. There are various operators in the area including XTO, Continental, Oasis, Whiting and many more. You might want to post also under the "Groups" at the top of the page , go to County Groups; find Montana/Roosevelt County. There are several on this site that can help you.
Michelle Slyder said:
Does anyone know anything about Fortworth Operating Company? They have our existing lease and just offered us renewal for our 320 acres located at T28N R51E and S22&28. Are they a lease hound that is just planning on selling it off or are they a company that actually develops things? Also, if anyone has signed a lease recently near our parcel, please let me know what to expect for terms. Offered $150/acre bonus right now with 1/6 royalty and 4 year term. Seems a little low based on what I've seen here. Lastly, do you have any recommendations on other operators in the area near Poplar that we could shop it around to? I may contact Samson, but who else? Any help would be great.
Thanks for the advice. I'll relay it to my parents.
charles s mallory said:
Michelle:
First, I am not familiar with Ft Worth Operating Company but my guess would be that the are in the buy and sell lease business and not in it for drilling purposes. The offer of $150/acre bonus and 1/6 royalty for 4 years is a "lowball" offer and consideration for this offer should be "NO". I'm not sure on the current bonus amount for your area but I'm guessing $500 and up per acre. Furhter, I would not settle for less than a 20% royalty with no more than a 3 year lease term and no extension. There are various operators in the area including XTO, Continental, Oasis, Whiting and many more. You might want to post also under the "Groups" at the top of the page , go to County Groups; find Montana/Roosevelt County. There are several on this site that can help you.
Michelle Slyder said:Does anyone know anything about Fortworth Operating Company? They have our existing lease and just offered us renewal for our 320 acres located at T28N R51E and S22&28. Are they a lease hound that is just planning on selling it off or are they a company that actually develops things? Also, if anyone has signed a lease recently near our parcel, please let me know what to expect for terms. Offered $150/acre bonus right now with 1/6 royalty and 4 year term. Seems a little low based on what I've seen here. Lastly, do you have any recommendations on other operators in the area near Poplar that we could shop it around to? I may contact Samson, but who else? Any help would be great.