My daughter inherited mineral rights of section121, block 2. It may still be under mineral rights lease agreement with Gunn Oil. But got an offer from Norwood Land Services of $350 per mineral acre lease bonus; 3 year contract with 2 year option to renew at same bonus; 20% of oil and gas produced.
First question, why would Norwood make an offer if I’m still under lease with Gunn oil?
Is Norwood offer a good deal for this area?
Do you know of any drilling/activity in this area?
I understand they just vertical drill, but do they fracture in this area?
Thank you!
Please be more specific on the state. Fisher is a pretty common name. And then post the question in the correct state and county on the forum. Add an abstract # if you have one and it is in Texas.
Personally, I would never lease for a 2 year option. Check your old lease to see if it had a depth clause. You may have a shallow lease and deeper zones are open.
Sorry. It is Fisher county in Texas.
Abstract 126, section 121, block 2. is activity “hot” or cold in this area?
Posting in the Texas Mineral rights and in Fisher County may get local folks to answer. You can start a new thread using the Counties tab above. Put in the complete description.
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