I just received a lease offer from Capstone for a small interest. They included an AFE from Charter Oak for the Delta 1-22-15-10XH well, a multiunit Woodford horizontal. Their offer seems low to me, has anyone else been approached to lease in this area (Secs 22, 15 & 10-7N-2W)?
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I have minerals in sections 4 and 9 of 7N-2W. Their top offer was $350 lease bonus per acre with 3/16 royalty interest. Flat out refused to consider a 1/5 royalty interest.
HIghest royalty in the past two years: 4-3/16th, Mostly Capstone 9-1/4th Gulf Expl, 1/5th Capstone 10-3/16th Capstone 15-1/5 Capstone 22-1/4, Annastin, 1/5th Journey Oil & Gas, Annastin, Charter Oak, Jackfork, Capstone
The only public information is from poolings within the last year. Section 17/20/29 by Limerock $800 1/8th, $750 3/16th, complicated 1/5th language
Thank you for the info and Happy Thanksgiving!
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Thank you for your reply.
Charter oak does big nasty fracs. Make the surrounding area an environmental disaster
It’s going to be low. This is marginal stuff at best. If u don’t mind tiny royalty checks and destroyed land value might as well