I have been offered $300 an acre for a bonus of a 3 yr lease with 3/16% royalty. Does this sound fair? And, can anyone let me know of any drilling around the Burrell Morris Survey, A-710 located in Lovelady?
Thank you,
Zoe Fallgren
Oil and Gas leases have long since passed the $300/acre mark in the Lovelady area of Houston County.
They should easily bring $500/Acre for a 3 year lease with a 1/5 free royalty. I would l not even consider signing a 2 or 3 year option. Burke Royalty and Navidad are the big players and also partners. There is beginning to be a lot of "lease busting" going own in the area. Monitor Energy from Houston is buying lease county wide. Monitor can be reached at 713-782-1075. I would shop the minerals and take the best deal over all. Also make sure that the landman reveals who is working for, get the brokers name and the company they are leasing for.
If you need to call me my number is 936-544-2222 office.
Thank you Mr. Steward for your prompt reply. I talked with Alan Sponberg, my brother in law today and he said he has talked with you. I wanted you to know that since he has talked with you I will let him do the talking to the companies. Sometimes too many Indians make a bad war party.
Zoe Fallgren
Walter Stewart said:
Oil and Gas leases have long since passed the $300/acre mark in the Lovelady area of Houston County.
They should easily bring $500/Acre for a 3 year lease with a 1/5 free royalty. I would l not even consider signing a 2 or 3 year option. Burke Royalty and Navidad are the big players and also partners. There is beginning to be a lot of "lease busting" going own in the area. Monitor Energy from Houston is buying lease county wide. Monitor can be reached at 713-782-1075. I would shop the minerals and take the best deal over all. Also make sure that the landman reveals who is working for, get the brokers name and the company they are leasing for.
If you need to call me my number is 936-544-2222 office.