Continental is offering $1500 3/16 for 3 year lease via Bearcat. Lease doesn’t expire until September/October. They are offering to pay 1/4 of the bonus now. They started at $750 but have doubled that. The offer seems low. Offering to lease before their lease expires tells me something is going on. Does anyone have any information on section 9, township 3s range 4w or surrounding areas.
I am personally not a fan of top leases. That is a lease that starts the second the old lease expires. I prefer to let them expire on their own terms and then lease when the old one is free and clear. Continental is doing a lot of leasing in the area.
I top leased with CR just east of you in sect 2 a few years ago. Their drilling operations couldn’t keep up with the expiring leasehold I suspect. The extension was for same royalty and 2 years. They drilled a few months afterward.
Good to know that there is some activity in that area.