Received an offer to lease 34 13N 20W from Avidity E&P. They appear to be newer company, anyone have experience with them? Initial offer for $600/acre 3/16 for 3 years with 2 year option. Have there been any new leases filed in this area or plans for a new well?
The following from Drilling Info shows leasing within the past 12 months (orange circles). I downloaded one lease that had a 1/5 royalty and 150% bonus on the 2 year option to extend (no idea what the original bonus pmt was). No drilling permits within the past 12 months. Custer County OGL.pdf (496.2 KB)
Donald, thank you for your quick and helpful response! I briefly read the lease which appears to have clauses that are in the company’s favor. Will definitely be contacting attorney before signing. With the lack of activity in this section, do we consider waiting? Any one have any experience with Avidity?
I just signed a 3 year lease in Custer county. I had 120 acres with 1% participation. T14NR28W I also received 150% bonus
MTM2, Do you mind sharing what you received as your lease bonus and royalty%?
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