been offered 1/4 and no $ for two acres in the deatheridge. should i take it
Need the complete section, township and range. Missing range at the moment.
range 7 west apparently marathon is getting ready to drill
The price is reasonable. The terms of the lease are more important. No post production charges at all-no enhanced, no extension of lease, no top lease clause, limit shut in time, have a commencement of drilling clause, limit your warranty clause, etc. Just suggestions.
so a 5yr lease is a bad idea?
Very bad! A lot can happen in five years. Prices up, prices down. Much better to be able to respond better to market conditions. In fact, since a pooling is pending, I usually try for an 18 month lease instead of three years.
thanks
what are top lease clause and shut in time
what does pooling pending mean; how much time do i have to make a decision
thank you so much for your time
just wondering is there any way to determine how many barrels they are projecting these new wells are likely to produce
boomer sooner
Dear Ms. Barnes-
Is there anything about to occur in township 13n, section 14?We continue to receive interested purchase letters. Is there a fair rate for the rights?
Thank you kindly
A top lease clause is essentially a right of first refusal for the leasing company towards the end of the primary term of the lease. Very bad option for you. You do not want to have to lease it with the first company if you can get a better deal with someone else.
If the well is shut in, they can pay you a very small amount per year to keep the lease. You do not want that to extend more than two years cumulative.
If the operator is getting close to drilling and all the mineral owners cannot be located, they can file for a forced pooling at the Oklahoma Corporation Commission. It is essentially a forced lease for the ones that have not already committed. Quite handy to keep wells moving ahead. You have 20 days in which to answer the pooling order.
Each well will be slightly different in what it will produce. Depends upon which reservoir, how many perforations per foot, how much proppant is used, how many feet are perforated, whether it is oil or gas or both, etc. Generally, we estimate from the performance of nearby wells.
Please give the complete section, township and range.
Township13n range 6 west sect 14 Canadian
Section 14 has a pending horizontal well by 89 Energy. The hearings are supposed to be February 19, 2019. That is why you are getting interest. Given the level in the activity in the area, I am hanging onto my acreage.
Dear Martha-
Would you be available for me to speak with you by phone? I used to work at Rice and also I have a neighbor here who is a geophysicist who you may possibly know....Not sure if you received entire message?