As testing extends toward the northern edges of the TMS, companies are seeking leases to drill test wells. Sometimes, these leases are being bought not from an oil company, but from a third party land man (either working for himself or for another company) to acquire the lease. Naturally, the initial lease offers are low due to the risk they bear and also due to their desire to package a deal where they can make money if the well is successful. I am looking for information to define 'reasonable' offer for acreage in Townships 3 (north Amite) or Township 4 (south Franklin). If you leased in this area, will you share your base terms and when you leased?
Also, what is the going lease rate in Smith County and Cherokee County. Which areas are being leased in Smith County? Have been trying to find out this information for some time, but haven't received any reply on this question as yet since I joined the Forum group. Will appreciate any info on this. Dick Gaut, formerly of Tyler, TX