Offer of 1/5 at $750 an acre. Is there new activity in this area?
No new activity in that section. Looks like the last leases were taken 4 years ago and it never got developed.
Lots of leasing in section 5, 15, 22, 23, 26, 27, 28, 30, 33. 34, 35, 36 in 2022. Several companies are very active in the area. So time will tell for your section.
Thanks so much. Maybe we should hold out a little longer.
Thank you. Yes were apart of that 4 years and know things have changed so may just hold out. Again thanks
I just received notification that EOG is going to drill 3 development horizontal wells in sections 8 and 17 of 9N 4W. This is development of the Spitfire lease area. That lease bonus seems pretty low given the current activity in the area and current oil prices.
They already drilled Spitfire 0817 1H back in 2019 into the Woodford, so both sections are held by production. The new wells are also for the Woodford horizon. Not sure that there would be any new leases as the original ones have moved into their secondary terms. Good news on the new wells. The hearings are slated for Oct 31, 2022.
We just leased to Summit Oil for $1,250.00 for 3 yrs at v3/16ths
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