Does anyone have information about what up front bonus considerations are going for currently in our around Section 30, T2N, R1W? Also any information on current activity in that direct area?
Looks like there was lots of leasing back in 2010 by Eagle Land and Minerals, but nothing since then. Those should mostly expire this year if they were three year leases, so maybe activity will pick up. Woodford probably pretty thin in section 30 since you are right at the edge of the Pauls Valley Uplift which has no Woodford. I am guessing that based upon pooling orders in sections nearby, $150/ac would not be out of line since they would be going for more traditional reservoirs.
Thank you for the reply. Yes my minerals were leasaed by Eagle in 2010. The lease just expired last week, and immediatly the next day I received an offer from Bays Exploration to lease for 3 years with a 2 year option. I just found it odd that they were obviously waiting for the expiration date to make the offer, so was wondering if there was any new activity in the area. I have not been up to the land in several years.
M Barnes said:
Looks like there was lots of leasing back in 2010 by Eagle Land and Minerals, but nothing since then. Those should mostly expire this year if they were three year leases, so maybe activity will pick up. Woodford probably pretty thin in section 30 since you are right at the edge of the Pauls Valley Uplift which has no Woodford. I am guessing that based upon pooling orders in sections nearby, $150/ac would not be out of line since they would be going for more traditional reservoirs.
If I were you, I would not take the 2 year extension. There is a bunch of activity in the township to the north in the Deese and Viola. Offers up there are in the $275-$300 range. I have acreage right next to you in sec 25-2N-2W, so I am waiting to see what is going to happen.