I believe some of you will find this of interest regarding
Lackey 2-17/ 20
Section 20, T1N, R9E, Coal County, Oklahoma
Thanks for your letter. Cinco finished it’s Bravo work in 2016 and are no longer leasing for them. Continue to work with Bravo Arkoma to secure your decimal under this well. It could be the Lackey well but also a multi unit lateral called the Stonecipher will be coming next. I am not sure the well has been drilled at this time. Thank you for your note.
I have a lease offer for our 5 NMA in Coal Co. 1-1N-8E. This is a negotiation of a new lease by Anevay Resources, representing Canyon Creek, after the old lease (also Canyon Creek) expired in October. They're offering $450 at 1/8, or $325 at 3/16, 3 years. They've already agreed to a favorable Exhibit A, as negotiated on another lease last year.
Anyone have data on lease bonuses in this area, or other relevant information?
I leased to Canyon Creek a couple years ago so my terms probably aren't relevant. I leased in 1N 8E, sections 14 & 15 for 22% and $450/acre.
I do want to warn you, we went round and round over their Order of Payment. It was AWFUL and I refused to sign it. 60 business days and I was locked in the lease for that period of time, but they were not. They could surrender the lease and OOP at any time. After a long time battling over the OOP they finally sent me a check.
Early on I did get a favorable Addendum approved by them and a couple clauses scratched out of their lease form.
Rudy, ask for 1/5th pricing. Make sure you have a NO DEDUCTIONS whatsover clause, no "however....."
I just dealt with Anevay and they were very accommodating to let my accountant hold my signed lease. I was paid in 10 business days with a handover of lease for check. I sent Anevay a scan of my signed lease with "COPY DO NOT FILE" written on every page and especially across the signature so no one could file it until I got paid. I do not sign Orders of Payment if at all possible.
Martha, I'm glad you mentioned the NO DEDUCTIONS. I got that but neglected to put it in my message. I dealt with Greenway, another of Canyon Creek's land companies. It was a royal hassle.
I hope they don't treat royalty owners like their lease hound treated me.
Let me start over I'm new to this any help appreciated.
Lease offer from Canyon Creek on a multi unit horizontal drilling township 1 south range 9 east sections 36,25 and 24. Offering two lease options $350.00 for 1/8 royalty or $300.00 or 3/16th. Any advice appreciated 30 days to respond or court date is set Feb 26th I'm new at this and was told by land man that price was set at the court date but then the next day received lease offer from him.
Martha: Regarding 1-1N-8E: I couldn't get 1/5, but found a year-old pooling order in the next township, and they matched it, saying this was absolutely their top price. Got $450/NMA @ 3/16.
Received a rqst to lease in 28-1S-11E to Quanah. $300 acre 3/16 royalty. This is the first offer but the leasing agent (with Paramount Services) said this is the most they have been offering. Land agent said they are planing to drill 4- 5 wells. I read some other info on Quanah in another thread.
Not sure if this is a good offer. Sounds a little low and I would like 1/5 royalty but agent said they are not offering. He has agreed to the four clauses that everyone says to include.