Any ideas on range of signing bonus amounts per net mineral acre to extend exhisting lease above (25% royalty) for 3 years beginning August 2016. Expecting offer this week and want to make sure we do not jump at first amount without some informnation.
John
Lots of extensions being recorded in Ward County, including some in your section. I would expect a variance on bonus rates. GLO is selling leases on Energynet on August 4. Including some small tracts in bed of the Pecos River. Minimum bonus for 3 years is $1,000 to $1,500, which is half of earlier rates. Results should be public on GLO site by August 5. Hopefully some other people can give you ranges of recent bonuses.
Suggest starting at $3500.
Has anyone had dealings with Shaw Interest out of midland?
Land company representing various oil companies. You can ask which company they are representing.
Yes, looking to lease...
Did you get an extension offer? Someone reported Shell offer at $2000.