HI All, need help please. I've been under lease with Cabot OIl now for 6 years. The lease expires 12/14 and they have sent me a 12 month extension with offer of $100.00 signing bonus. I've refused that. I have 7.25 Mineral Acres in 780 acreas at the very bottom west corner of Atascosa and Frio which now has about 8 producing wells on it. Two questions, what is market value now on each mineral acre? also, Cabot has told me they are drilling or already have drilled and if I don't sign the extension, we will not receive royalty from these new wells. Can they drill anyway without a lease on our mineral rights? I really don't want to get a lawyer involved due to fees, etc. but did use a good one on the last ratification of pooling request. thanks in advance!
You need to join the forum for the county in your state.