Anyone Getting Lease Offers In 02-13S-38E?

[M_D_Wood]

Is anyone getting lease offers in 02-13S-38E?

Steward Energy II is offering $1,000/nma signing bonus on 1/4 interest to renew our lease.

We are wondering who else is leasing and what they are offering.

Thanks,

M. Wood

[Rick5]

Hello M. Wood,

In 2019 We leased section 23 T13S R 38E for a flat fee of 25K for 28 acres. Steward had offered 800 pnma or a little over 22K. Steward has had great luck in drilling T13S R38E wells. We ourselves, have two producing wells on this interest from Steward, and Steward has applied for an additional two wells.

1000 an acre is probably good in my layman’s opinion. I would consult an attorney for lease language etc. Our terms were 25K Flat bonus fee, three year term, 1/4 royalty on a mutually agreeable lease form.

Good luck!

[M_D_Wood]

Thank you for the input. Really appreciate it.