Does anyone know what royalty payments are running per net mineral acre from Devon in Payne County Section 17, 19N, 3E?
How many acres do you have? I own in the section and was paid $350 an acre, 3/16 royalty.
I have 12.5 acres in Section 15, Township 17N, Range 1E.
I am interested in how much rotary payments are? We leased as well and have division orders but have offers to buy coming in a lot. Trying to decide which way to go.
Nancy, offers in first quarter 2014 were $2,500, now $3,000. Leasing/mineral rights in Payne are closer to $400 @3/16th. Some owners won’t do the 2-3 year extension, but if they do it’s at 150%.
Further west of I-35 it’s $800 ac. and Pawnee $500
Many owners are looking at it’s free mailbox money in the hand. Others consider what’s it going to be in 3-5 years and do we want our royalty tied up for 5-6 years.
Nancy, offers in first quarter 2014 were $2500, now $3,000. Leasing/mineral rights in Payne County are closer to $400 @3/16th. Some owners won’t do the 2-3 year extension, but if they do it’s at 150%.
Further west of I-35 it’s $800 per acre and Pawnee $500.
Many owners are looking at it’s free mailbox money in the hand. Others consider what’s it going to be in 3-5 years and do we want our royalty tied up for 5-6 years.
Showing ignorance. 150% of what? Original lease per acre?
That was my question as well, I did not understand the post that someone put on here, I get that some people are only leasing at one year at a time, is that correct?
Nancy Crenshaw said:
Showing ignorance. 150% of what? Original lease per acre?
Don’t do extension.
Ron, I agree, and so does our Cushing attorney. As a matter of fact he’s highly opposed to any extension. Says, “If they’re going to drill they’ll do it in the 3-year primary lease.”
My family has lease offer from Land Services/broker for Amer Energy Woodford (McClendon), but it includes the enhancement clause, and other hidden producing costs (unless you read LEGAL), in that offer. Attorney warned that he’s handling several cases against AE-W for non-payment to owners. Watch who you lease to and get a good attorney. They work fast, and slick. Money looks real good!! But, if get gas well - watch out!
Have you leased? You are named in the pooling. If you have not you may want to make an election under the pooling. Tomorrow is the last day.
I also show a completed well in 17-19N-3E
Jodean Harris said:
Ron, I agree, and so does our Cushing attorney. As a matter of fact, he’s highly opposed to any extension. Says, “If they’re going to drill they’ll do it in the 3-year primary lease.”
My family has lease offer from Land Services/broker for Amer Energy Woodford (McClendon), but it includes the enhancement clause, and other hidden producing costs (unless you read LEGAL), in that offer. Attorney warned that he’s handling several cases against AE-W for non-payment to owners. Watch who you lease to and get a good attorney. They work fast, and slick. Money looks real good!! But, if get gas well - watch out!
We have been offered $250 and 3/16th royalty for our lease on Section 19 18N 5E from American Energy Woodford. Have not signed yet. Seems we should be getting more!