Hello, I just had an offer on Sec. 17-6N-1E, Cleveland. It was previously leased by UDX and is due to expire. They want to release it and want an extra two years which I would never do and or just the three years. They are offering 125.00 an acre and this is the only section i have in Cleveland County so am not sure what is going on in that area. Can anyone tell me if this is a good area and need more bonus or are they just buying up minerals now while the market is down. The fact that they want to lease it again raises my curiosity. I may just let it sit but need to know what is hot around it or whatever. Any help would be greatly appreciated.
According to my notes, a well spud in that section in September. That's all I know, except that I would never take a first offer.
Good Luck, Curt
Ok, thank you. I will follow up with that info.
I got one too. I have a very small amount there. I asked them for 3 years no extension and a depth clause and they sent me a lease like that. It was $125. Under the circumstances I think its ok. They did hit a big well in that section recently though.
Do you know where the well is?. I have leased with UDX as well in late 2012. ....my section leased is SW/4 and N/2 SE/4 and NE/4 of 17-6N-1E. My lease will expire 8/6/2015. If they are drilling I am in good shape but not if its not in the right section of 17. any news that anyone can give me on whats happening right now with that area. Joe, where was the well you said hit recently. It also stated in the letter offer it was for the Crossbow well or prospect?