Is Continental drilling in this area? I have a lease renewing coming up in April. The other lease was for $800.00 an acres bonus. They are now offering $400.00 bonus and 1/5 royalty. Is that good or bad?
Check your Range. There is no 2S. Either 2E or 2W.
The general answer is that offers to lease are lower this year due to competition. The clauses in the lease are much more important than the bonus amounts. You will likely need an oil and gas attorney to get more favorable terms than the draft the oil company sends.
Thanks for the info. It is Garvin sect 36 1N2W.
Continental has pending OCC cases to drill in sections 25, 26 and 27, so they are probably trying to get their leases ready for additional sections. Yes, they are leasing in 35 and 36. You can choose to lease with them, another agent or wait until pooling. If you have an older lease, you might want to get an attorney to take a look and negotiate for a better one.
Do you have case numbers for OCC cases to drill in sections 25, 26 and 27? I cant find them. Thanks!
25- 202201297, 1300, 1301 26- 202201298, 1300, 1301 27- 202201299, 1300, 1301
So glad your on here. You are a wealth of information. Thank you.
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