I have about 5 (4.747221) acres in S35,T9N,R4W That I was about to lease to Meadows oil & gas Corp. on behalf of TRP MidCon LLC for $4500 but he went up to $4750 at 1/5 royalty he said he is trying to help me get a better deal before they force pool me early this month at 1/8 royalty. But I have been told they already did a force pooling and my name was not on the list. What was offered at the pooling was as follows: Participate $5,250 and 1/8 $5,000 and 3/16 $4,850 and 1/5 $500 and 1/4 So dose that mean if I wait I’ll get that offer or better? They are drilling a mile lateral well into the scoop of the Woodward. I’m thinking now I’m going to participate and would like to know more about that end of it. I was told it’s estimated to cost about $9000 per acre and I have money in the bank to invest. I was wondering what the cost to maintain a typical well and how long would it be before they want to drill another well and what type of a return is typical if I even make one. I’m willing to loose it all but would like to know the odds so I have been doing research but have little time. I know I’m in a oil and gas zone but don’t know much else. Any info will sure help. Thanks Daniel
Risk analysis for participation in oil and gas wells has a lot of variables. Some of those variables are best analyzed by experts. For starters, consider reading “The Prize” by Daniel Yergin.
My business advice is to take bonus money and royalty (if production is found), and invest in assets you are more familiar with.