Letter from Continental arrived today with what seems to be a very low offer for lease bonus, anyone lease in these sections recently? What is the going rate for bonus/royalty?
Hmmm, Continental pooled that section in February for $1300 3/16, $1200 1/5 $0 1/4, so those were the going rates at that time. Were you leased back then? 16 pooling is pending, but they should be close.
The Donmar Ranch FIU 1-7-18XH well just completed next door to you with 7602 mcf gas over two sections. You are getting offered gas prices for leasing, not oil prices.
You might want to see what Warwick Jupiter or JP drilling fund is offering. They were leasing late in 2016.
Thank you M Barnes!!!