Hi. I’m currently receiving royalties from a vertical well and have been receiving purchase offers for my mineral rights. I’ve held on believing they knew something good would happen. I’ve now received a lease offer for a horizontal well at a greater depth. How do I research and negotiate the best bonus and royalty interest? Thank you for any help you may provide. I believe my family and I were fortunate with our first leasing experience turning into production. However, I feel more riding on this because I believe the area to be viable and my family (Mom, brothers, etc.) are looking to me for guidance. And I’m not sure what I’m doing and would appreciate any assistance!
This area is valuable. Go back to your first lease and determine if you have a depth clause. If not, then you may not be able to lease. If you were pooled on shallow horizons, then you may be able to lease.
The private lease bonus amounts are not public data. The closest you can come is the pooling amounts from the surrounding sections. Or offers that folks have posted here. The last I heard, section 8 had offers of $2750 3/16 $2250 1/5 back in 2017.
I noticed that the index for section 7-9N-4W indicates that your interests are subject to an oil and gas lease between you as lessor and Superior Title Services as lessee, however they chose to file a memorandum of oil and gas lease in lieu of the actual executed lease form. I’m assuming you have a copy of the original lease so you can confirm whether or not your rights are open below the producing horizon?
I can be contacted at firstname.lastname@example.org if you’d like to discuss this in further detail. We can present you with a very strong lease offer in the event your deep rights of open. Thank you! Bryan
FYI for you Martha — just completed a lease in 36-9N-4W for $4,000 and a quarter.