My family has some 2000 acres in Southern Crane County. I'm wondering if any of you may have leased acreage in that area and what you got for it? Love the Paper they said West Texas having Boom times and paying up to $10,000 per acre. 750 acres in Sections 8 and 10. Near old Jax's field that has been recently sold.
Thanks,
Chris
How often is the $10,000 per acre paid (or is it just a one time payment)? Moreover, which company or companies offer that? Do you know if any bonuses are paid? Thanks.
Michelle,
If you get a 3 year lease with a 2 year extension, and it's written that they will pay the $10,000 per acre for the extension, then you can get paid the first time and it they don't get around to drilling it, then you will get paid again for the 2 year extension. I haven't found anyone to verify what I read in the Paper about that large of Bonus.
So far I have only been offered $125. pre acre, but they have back off for awhile now. Time will tell and the price of Oil will help.
Chris