We own minerals in Ellis County, OK in Sections 4,10, and 15. All these are in production now.
We have an offer to lease the deep rights. I appears to me from maps I could pursue on the
internet that these tracts are within the Stack formation, though near the northwest edge of the
Stack. Could that/ should that make a dollar difference in the lease offer?
We’re offered $600 acre and 1/5 for three years. U.S. Lease Price Report shows current leasing is Low of $30.00 and a high of $4,000 so that is useless,especially in an area as hot as Ellis.
Info, opinions, all is welcome. J. Darnell
Oh, good grief. I should have said that our tracts are in Township 17 North, Range 24 West.
Jeanne Francis Darnell
I am moving this over to the Ellis Co., OK Category.
That far west is considered to be the Western Anadarko Granite Wash play. The STACK is not a formation, but a stacked set of reservoirs that are more in Blaine, Kingfisher and Canadian.
US Lease report it pretty useless. Leasing varies according to reservoir and is all about location, location, location.
Lease bonus amounts are not generally public. The only way to get a hint is from the recent pooling information nearby. Nothing has been pooled in a couple of years, but there are pending poolings in 15 & 22. When those post, you will have a better idea.
Maybe someone else on the forum can comment on that area. I always ask for more as first offers are usually low. I have a feeling that amount is more in line than $4000 would be. The reservoirs are not the same.
Thanks for looking into this for me. We haven’t leased yet and are not in any hurry.
And I’m glad to get the correction on the location since there’s so much news on the “Stack” and
I won’t be licking my lips on that news anymore.
I hope that others may chime in on this. If you get any more info, please keep me in mind.
Look up the investor presentation for Four Point Energy. They are active in that area.