About a year ago, our land was leased for 3 yrs @ $200/ac with a 1/5th royalty. Now, one year into the original lease, they have returned and want to extend the lease on one 160 ac. tract for another 3 yrs at $150/ac bonus. They have completed a HZ MSSP well in the two sections to the east & they both look good.
My question. What are others getting for 3-5 year leases in the section next to new horizontal producers? $400, 600, 1000/ac in Pawnee Co?
I got a check for a 50 dollar lease sign bonus, for another 3 years. lol. The rights are divided amoung a lot of heirs....
Do you know how many acres were involved &/or the total amount paid?
Nick
I'm only guessing, but thinking more info might help with getting a better answer. Township and Range would likely help some of these folks with access to more information than most due to being in the business. There has been quite a few areas in Pawnee county with different types of drilling. Horizontal in the mississippian is the most common in my area of interests too, but only one small company has been active and their wells' production numbers are likely going to be a future lease bonus value indicator. I'd suspect the same would hold true for you too and Township and Range would help somebody with access find those productions numbers.
Just my 2¢ - I'm interested in the answer too. We have leases that potentially may end in February.
Good luck
I am more interested in all of Pawnee county hence, the absence of location information.
We are around the Maramec-Hallet, New Gulf, horizontal Mississippi play
Just to revive an old issue - what are the legals on your minerals there?
Thanks!
Various in 20&21N- 5&6E
Rainmaker said:
Just to revive an old issue - what are the legals on your minerals there?
Thanks!
Great. Who is drilling near you? and is that that co thats trying to lease?
I would like to know too. I adjoin Pawnee and Noble counties. My lease may expire before they can drill but the lease contains a provision to extend at a rate of 150% of the first lease which was 225/acre 2 years ago for 180 acres. Your 1000 acres would save them some trouble so it ought to be worth a little more. Hope this helps. This varies but does represent a contractual price in your area. The horizontal wells adjoing you can either push it up or down depending on their production. Have you heard?
New Gulf is the operator drilling around our acreage west of Hallet, east of Maramec.
Results except for Initial Production are hard to come by. I just received my first check from Highmount, and it wasn't good!
Rainmaker..When did you lease & for how much & what terms. Where are your minerals?
I purchased these minerals and its over in Noble. They are on a 3/16ths.