I purchased a townhome for my parents 1-1/2 years ago in Brighton; sect 8, 1S, 66W. Apparently the minerals are unleased. I have received a letter from Great Western, who appears to be very active in this area, concerning my unleased minerals. They plan to drill 26 wells on a 1923 acre spacing unit. They have given me the option to participate in the drilling and completion for my proportionate WI, participate and acquire my share of any non-consent interest, or not participate and be subject to a 200% non-consent penalty.
My fractional share is very small, I only own about 1,750 sq ft of surface acres, and I don't know if any minerals under that have been split off, even at 100% of the minerals the fractional share is small. I want to realize the best return possible, but don't want to get into a situation where the time commitment/paperwork is not worth the funds realized.
I am looking for a little clarity on the three offers, I only have a vague knowledge of these three options. My wife has producing interests in TX, and I have both leased and non-leased, non-producing interests in other properties in Weld county, but these options are new to me. Any advice and information would be appreciated.