I received a lease offer for all of my land sitting over the Niobrara. I dont know where to find what the going rate is. Offer is $35.00 per acre for 3 years and 1/8 royalty. I was assured they are going to drill a well. Just not sure where to go from here. My land is Township Six (6) South, Range Forty-One (41) West of the 6th P.M. Section 17: East Half.
Looks like Foundation Energy Management out of TX is drilling in that section. The intent to drill permit was filed before the oil price collapse. They may hold off for a bit. $35 is fair for your area. Deeper wells for KS. 5,600ft so to drill is expensive relative to the state. Its a good pay zone they are going after. IF they find something it should be good!
Ms Meyer, did you lease your ground in sec 17? I own NW quarter of section 17.
Yes, I did lease to Foundation Energy Management. Is yours the parcel that they drilled on late 2018?
The staked a well location but they never actually drilled it. I was curious whether they leased yours to see how committed they were to the area. thanks.
Mr. Yoder, are you aware of any activity on your or my land? Foundation Energy leased my property for one year. If nothing is done by end of October the lease is ended.
I am not aware of any activity or intention to drill on our leases.