Does anyone know what bonus dollars XTO are offering on new leases in the Houston/Trinity county area..................what about royalties?...............a 1/5th or a 1/6th
I am not sure what current leases are running. My MR near Friday were leased to XTO by the previous owners in 2008 for $200/acre and 1/6 royalties for 3 years with a 2 year extension. This lease is due to expire in February. I would not suggest offering them any extensions. From what I have read on the forums I think most are suggesting rates somewhere in the $500-750/acre bonus and 1/4 or at least 1/5 royalties. It might pay you to seek assistance from a qualified O&G attorney.
I think that a lot may ride on the success/failure of the three wells XTO has permitted in the Pennington area.
Good luck with your negotiations. I would be very interested in the outcome.
Maybe someone with more knowledge will have better suggestions.
I live in Pennington close to Fodice...................I have heard the 700.00 number but I have not been able to confirm that. Most of the deals done in '08 were 200.00 as you said and I heard of a recent deal (within the last 30 days) being done for 350.00 with 1/5th.
What companies (other than XTO) are actively leasing in the Pennington area?
I spoke with some folks from Western Chief that are leasing in the area.
They were not interested in mine, however, they are leasing in the area and more particularly back towards to Lovelady.
They have landman who offices are in Jacksonville. He was very nice but declined. He did say that if the three wells being drilled in area are good wells that they might be more inclined to sign some leases in the Pennington area.
Is there any news about the 3 wells being drilled in the Pennington area?
Not that I am aware of.
The well being drilled in Pennington off of 358 is waiting on a rig. The site is completed.
It is my understanding that they are moving the same rig from one location to the next and the Dominy well site on 358 is just waiting.
The well site off Fodice is still in the preparation state. I have noticed the trucks driving down there a lot. Fodice Road is my back property line with 287 on the front.
I have no information on the one being drilled around Arbor.
Check out the Go Haynesville Shale website, look under the District 3. You might find the information you are looking for