I received an offer to lease my minerals in Sec. 02-02N-12E, at $200/NMA for a 3 year term with 3/16th royalty. Is anyone else getting offers and at what terms?
Looks like several agents are in there leasing. Given the line up of the sections with leases and the nearby drilling, I suspect some new horizontals might be coming.
Blackbeard had a pooling order in sec 26-2N-12E for $350 at 3/16ths April 2025
Sanguine had a pooling order in sec 18-2N-13E for $100 at 3/16ths Nov 2025-gives you a range.
I received the pooling order from Sanguine. Is this the best I can do? Should I consider hiring an attorney?
The pooling order is the final step. You only have 20 calendar days in which to make your election or you will be assigned the worst option. If you already have an attorney and a final lease ready to send, it must be filed in the courthouse before those 20 days are up. You need to inform Sanguine that you signed with X company effective Y date. If you go with pooling, you need to send the pooling choice by certified mail return receipt. The options in the pooling order are the best that Sanguine will offer. You may be able to get slightly better with a third party, but it won’t be by much that would account for the attorney fees. If there is no other competition in the area, then pooling is it. Most of us would select the higher royalty and not worry about the bonus. A higher royalty on a successful well and possible future infill wells for many years far outweighs a one time bonus payment for a lower royalty.