We got an offer from Cochran Land Company LLC here. It is 1/8 $200 or 3/16 $150. Seems really low, and 1/8? I can’t believe anybody offers that anymore! Anyways, does anybody know who currently leases this area? Maybe another bigger name? We have quite a lot of acres here so we are going to take our time on it.
That amount is about right as this is gas country and Charter Oak just pooled near you for the same amounts. BP bought quite a few sections from Charter Oak recently and only has two rigs to drill those sections up first. Cochran is a land company that leases for companies like BP. Operators don’t often lease in their own names much anymore. Red Sky land, Masters Oil & Gas are the other ones in the area. Cochran is the biggie at the moment. Be sure that you get a good lease that is more favorable to you. The one they offer is in their favor, not yours, but is negotiable.
I’m seeing some comps up around $2k & 3/16 from 2017, so you might hit back around there. They weren’t too far away, maybe a couple of sections over. The site didn’t have the name for who paid the highest, but you could reach out to Armer & Quillen, LLC. Or like @M_Barnes said, Charter Oak seems to be paying a good amount as well.
Thanks for sending that map. Can I tell what they paid people in those purple dots? I see the one to the SW. It has a 2 on it. That does not mean 2000 does it? I am trying to see what each one pays. thanks again.-Joe
A guy sent me a message saying they got 1500-2000 a section or 2 over. Those might be just inside McClain. I am sort of debating the whole thing, A couple years ago I leased one cheap for 125 and got an offer a month later for 450! I am still sick about that. I have that lease you emailed me so I am going to be very happy to use that soon. A bunch of my leases are expiring and that could be a blessing since the one you sent is much better.
The bubble is the number of comps for that section, but you can see the details when you hover or click on it. I’m a beta user, but I’m assuming you can probably set one up too. The site is mineralinsight.com. If not, let me know and I’d be happy to help you out.
Thanks a bunch!
I looked at that map. It looks like the good money is too far away, 3 or 4 miles. I might ask the moon and see what they will do.
These people are slow playing the lease which makes me wonder if it has to be a not so good lease with an extension to do a deal! We have about 55 acres so I may have to shop it around!