I have received a letter from Next Energy, Denver, Colorado, proposing an oil/gas lease of mineral rights I own in Saline County, Illinois. Has anyone else with rights there received such a letter? Does anyone have experience with this company, which does not seem to be a producer? I own other rights in nearby sections where other companies have been producing oil for many years.
Ned
Hi Ned, yes I have also received a letter from Next Energy proposing an oil/gas lease of mineral right in Saline County. Our initial lease was for $25/per net acre bonus with a 1/8th royalty and a 5 year term. Would you happen to know if this is comparable with the land that you own that's been producing for a number of years? Was your offer around the same? Thanks for your help and hope to hear from you.
Jeff
Hi, Ned and Jeff, I just rec a letter too. Has anyone contacted Nextenergy leasing agent to find out more about the drilling being don or asked for the production data?
I had no idea I inherited this until recently. Nextenergy evedently bought the leases from Shawnee.
The contract I read from Nextenrgy has a clause that states a 5 yr lease but they have a right to continue automatically renewing that lease infinitely at the same price. That sounds risky on my part.
Betsy