I received the lease agreement today. Bonus is $1000 per acre with 20% royalty. this is in Karnes county in the Falls City area. My share is not huge but nice to have. would anyone like to share any information on what has been offered in this area? have read all I can get my hands on so far as I can not afford an attorney at this time.
sorry forgot to add they want 3 yr. lease w/ 3 yr extension. this is from EOG and was told they wouldn't start to drill until December of this year.
Most are receiving at least $2000 an acre bonus and 25% royalty at the present. Some are receiving more in the bonus area. I would not sign an extension as it is only in their favor. I would recommend you hire an Oil and Gas atty. It will save you a lot of headache and $ in the future, plus they don't cost as much as one would think.
thanks for the information. was not considering an extension thanks to this web site. that sounds like a good start for a bonus and royalty.
JBBR said:
Most are receiving at least $2000 an acre bonus and 25% royalty at the present. Some are receiving more in the bonus area. I would not sign an extension as it is only in their favor. I would recommend you hire an Oil and Gas atty. It will save you a lot of headache and $ in the future, plus they don't cost as much as one would think.
Susan, the Luis Menchaca A-5 grant is a big area, can you tell me were your mineral rights are at. You peeked my interest when you said you had heard they were going to start drilling in December. I have 140 acres on the west side of 181 and FM 204 in Karnes county. Leased to EOG since 2008 and thought maybe they were going to let the lease run out since we had not heard anything. Does anyone else know any new information about EOG and drilling in that area?
I found out it is 1/2 mile NE of Falls City. not sure exactly where as I don't own the land. so far that is all I know and will try to find out more.
Brenda Zachman said:
Susan, the Luis Menchaca A-5 grant is a big area, can you tell me were your mineral rights are at. You peeked my interest when you said you had heard they were going to start drilling in December. I have 140 acres on the west side of 181 and FM 204 in Karnes county. Leased to EOG since 2008 and thought maybe they were going to let the lease run out since we had not heard anything. Does anyone else know any new information about EOG and drilling in that area?
Susan, thanks for the info. My property is about 1/2 mile north west of Falls City. Still would like to know if EOG is going to do any drilling on that side of 181. If you hear anything please post to this website.