I'm working on developing an total wildcat area for oil production. Several parcels of land are privately owned. When you are looking at a wildcat scenario, what kind of leases with private owners should we be looking at.. and should BLM or other local government agencies charge us the same percentages as other already established oil producing areas?
Have you searched for any leases filed in the same wildcat area, or other similar wildcat areas nearby? I would be looking to see what kinds of terms they leased for. You could also talk to any local landman in the area.
If you are looking at leasing BLM or other govt property, I would start contacting their leasing offices to find out about opportunities and high-risk development and what kinds of terms they may require or negotiate. Some of that information may be available online as well, especially with an agency like the BLM. Some states have certain tax exemptions and tax breaks for development of certain kinds of oil and gas.