Charles,
Why does anyone want to pay more for a shut in than they have too? It would be the differences of $160 or $1600 if it's a 160 Acres. That is money that oil companies are watching right now. Most are in debt to the neck and above, and $1 is norm.
Right now lots of oil companies are using shut in clauses to hold the well/lease and not produce the wells since prices are so low. Some companies are even trying to pay for 2 years shut in to keep the wells.
Thanks Virginia. By the way it's only 4 mineral acres
Does anyone know if there is any drilling activity in Section 27? I signed a lease for a large number of mineral acres with Sandridge in 2008; production never began and the lease expired, but I wonder if there are any wells operating or scheduled to be sunk. Thanks! David Christopher Davis (inherited property from Coleen C. Davis in 2000.)
Just got back from Woodward Co clerk office, lots of land men working records. That is usually a good sign that things may be picking up.
According to things I have read, The CEO of a oil company said we will see $60 + a barrel by the end of the year. Things will start moving if we do.
received lease offer on 3-21N-17W $500. per nma 3/16 3 yrs with 125% 2 yr bonus( and I requested depth clause)....good offer in this area?
Robin,
You may try for another $50 and a 150% extension. What I am seeing if you are too high, they will lease everything in the section and that force pool you.
thanks, Virginia...good advice.
Received an offer to purchase $3000 nma 30 ac 30-20N-18W. Is this a good offer? I am not selling but some relatives already have and some are contemplating.
I have minerals in Section 9-21N-21W that I would like to sell. Anyone have any decent contact information for any buyers?
Thank you,
Received a offer to purchase for $2,500 nma based on 3/16 royality for 18-20N-19W, Is that the going rate for this area?