Newbie here - didn't know my family had mineral rights in the area:
From Calyx Energy:
Proposing drilling Total Vertical Depth of 4170 feet and anticipated Total Measured Depth of 8570 feet or to a depth sufficient to horizontally penetrate the Woodford formation.
Choices are:
- 250 per net mineral acre bonus, 1/8 royalty, 3 year term,
- 200 per net mineral acre bonus, 3/16 royalty, 3 year term,
- 100 per net mineral acre bonus, 1/5 royalty, 3 year term, or
- No $ per net mineral acre bonus, 1/4 royalty, 3 year term.
Can this be negotiated higher? What is the average (good) terms for this area?
Which is the best option and anyone have any information about this proposed drill?