Have an offer to lease from CitizenEnergy for 800 per acre and 1/8 or 600 per acre and 3/16. Two horizontal wells to be drilled one in Sections 35 and 26 of 24N 13W and another in 35 24N 13W and sec 2 23N 13W. Had previous conversations with a lease broker who offered a slightly different lease bonus amount and offered to purchase minerals at 3,000 per acre. Asked about higher participation rates and higher lease rates and they claimed to have talked to the “Board” and the answer was no on both counts. We plan to go for the largest participation we can get but am wondering if we should wait for the pooling order assuming Citizens refuses to sweeten their offer. In reading posts there seems to be some benefit to waiting for the forced pooling. Also wondering if anyone on here has leased to Citizens and what they received.
Citizen/Canvas has filed a few leases in the area. Their highest royalty so far has been 3/16ths. They have already filed horizontal permits in nearby sections. Canvas has a pooling hearing scheduled on section 2-23N-13W on 12-19-23. If you have not leased before, suggest that you get a good oil and gas attorney to look at the draft lease as they are not usually in the mineral owner’s favor and need some edits. Or you can wait for the pooling. There are pros and cons to each option.
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