Hi - I am relatively new here. I am finding all the postings very helpful in helping me try to figure all this out. I have 13.33 acres in Sec 23, 6N, 5W. I signed a lease at $850 an acre with TODCO the beginning of Feb, still waiting for check that was due beginning of March. It was the best offer I got, but getting impatient with delays. Anyone else had any problems like this? Other offers in area in similar price range? Any activity in the plans for the area? I know - lot's of questions but don't quite know where else to go! Thanks!!!
Im in the same boat and same price for Todco I leased 1-6-5 and 24-7-5 for that amount...They just take forever......They are leasing for Contiental Resources ...Jackfork Land Could not keep up with the leasehold
I leased with Todco about 25 years ago, I fell for the old bank draft bit, but I did get paid.
We recently (November 2011) leased with Jackfork nearby in 24-3-5 for $1500 acre. Prompt payment. I'd hold out until they get ready for pooling or after pooling. And you don't really have to lease if they are going to do a pooling order because anyone not signed at the pooling, gets paid the highest amount paid to other leaseholders in that section.
This is where I start getting overwhelmed. I had called Jackfork about a lease when the lease activity started again in January and they said they werent interested. Todco isn't returning my calls, when I do get them it's the check will be issued next week and we start all over. They did ask me if I wanted to cancel the lease and I am tempted. Is that possible? I am now tempted. Thank you for all your help.
Chris, Problem is pooling not a sure thing, they don't even have spacing yet.
Chris Blood said:
We recently (November 2011) leased with Jackfork nearby in 24-3-5 for $1500 acre. Prompt payment. I'd hold out until they get ready for pooling or after pooling. And you don't really have to lease if they are going to do a pooling order because anyone not signed at the pooling, gets paid the highest amount paid to other leaseholders in that section.
Chris, Sometimes hold outs can do even better. Our section pooled twice, second time paid $500/ac. more!
JoAnne, Check your inbox.