Anyone out there been approached about drilling. I have been and am trying to figure out what a good offer is on royalty and bonus.
It would be greatly appreciated if anyone could help me with this.
thanks
Joyce
Joyce,
I was approached by a land man about 7 or 8 mo ago wanting to buy my interest in Archer county. He offered $5,000. He indicated the offer was non-negotiable. I declined. I have 200 acres undivided interest and it has had several producing wells in the past. I guess what I am saying is do not take any first offer.
Good luck.
marty
Joyce,
I agree with Marty.
"do not take first offer."
Clint Liles
Thank you both for replying back to me.
What they have offered is 3 year lease and Royalty: 3/16th. I own about 16.67 acres on the Floyd Jordan Survey.
I was just wondering if anyone knew what the Royalty amounts are going for in the Archer county.
This is ironic. I received a division order today from a company in OK City. I suppose this means someone still has a lease on this Archer Co land.
I guess that area is really opening up. Did you know that you can get a history on that survey from the TRRC? Google the Texas Railroad Commission. Archer co is region 9.
A history may help you decide if that is a fair offer or touch base with Clint he is very savvy on that.
At $100 a barrel 3/16 could be very sweet if they get a good producing well. The nice thing about royalty is that all the expenses are borne by the working interest. (You probably know all this) I know just enough to be dangerous. I was raised in Wichita county and my husband financed his college by roughnecking in those fields.