I was offered $3,000 per acre and 3/16 royalty for three years unless they produce and then the terms will continue until drilling stops.
My question is why the sudden interest in these leases? In the long run would it not be beneficial to wait for Citation to drill this area and get my full share not 3/16? To pay $3,000.00 per acre seems high just to speculate.
Woodford drilling is picking up in Carter. Echo is planning to drill horizontally under the old fields in 26. You should have gotten a whole bunch of OCC cases over the last year.
So do I keep what I have in place with Criterion? I heard Criterion is not deep drilling but the other companies are and unless I go with them I am missing out.
Also, the lawsuit against Criterion, will it effect our future income or this going to make them go bust?
Thanks!