Hi all! I am a newbie to the forum as of today. I received a lease offer in the mail back in January on this section from Sam B. Rose. Around April I received a call from a broker wanting to lease Husky Ventures in a different section of the property. What are the typical rates for Cleveland? To the best of my knowledge there has not been any activity on this property since the late 70's early 80's.
I have an interest in 17-6N-1E and a little less than a year ago I was pooled at $125 and 3/16. You might just want to wait and see if you are pooled. That will probably be the best offer.
Thanks Ralph! We have gotten a 3/16 royalty as a top offer. This is on a 205 acre track that my grandmother and her 3 sisters owned the mineral rights to. I am hoping that along with the other relatives that we might be able to pull a 1/5 or better royalty. When you say pooled do you mean forced pool? Also, how long after being contacted by the company will they pool?
Yes, I mean forced pooled. How long just depends if and when they decide to drill. And of course that may not happen at all.
So in your opinion, being pooled worked out better for you?
Yes, but you also stand the chance of getting nothing if they decide not to drill. However, I only have a small acreage so to risk losing the bonus was not a big deal.