I have about 30 acres in the W.B. Smith survey, A-952 in Houston county and about 160 acres in the John Callahan survey, A-127 in Walker county. We have had a long relationship with houston petroleum but thay have never tried to do anything with our property. We recently have been contacted by Petraland on behalf of EOG resources interested leasing our mineral rights. They are so interested they hand delivered the letter regarding their interest. My question is what in or around our area is a good estimate of what the cost per acre to lease? I have been with Houston Petroleum for so long that I am not sure what its worth now. Is there a lot of activity going on in this area or are they just wanting to lease it to keep other people out? I appreciate any feedback that will help me with this. My lease is up next week so I am trying to make a decision on who is the better company to go with.
Trey, you can’t go wrong with leasing with EOG. My family and I have leased a lot of minerals to EOG and have been pleased with working with EOG. Depending on location, mineral owners are getting anywhere from $800 to $1200 per net mineral acre. Obviously, you want a lessor friendly lease and you will need to negotiate what you want in your lease. As to your question, I don’t know if they are just leasing to keep other companies out of the area. You should definitely have your attorney review the lease before signing. Good luck!
Thanks for the insight!
CNT said:
Trey, you can't go wrong with leasing with EOG. My family and I have leased a lot of minerals to EOG and have been pleased with working with EOG. Depending on location, mineral owners are getting anywhere from $800 to $1200 per net mineral acre. Obviously, you want a lessor friendly lease and you will need to negotiate what you want in your lease.
As to your question, I don't know if they are just leasing to keep other companies out of the area.
You should definitely have your attorney review the lease before signing.
Good luck!
You are welcomed!
Has anyone dealt with Mark Icenhower, landman?
Trey, did you get your acreage leased?
I did. But it was through another O & G company.
Awesome!
Trey Lunsford said:
I did. But it was through another O & G company.