I received this offer both in the mail and by email. The last lease I signed was $2250 per mineral acre. I have inquired on this site if there is something going on in the area and I guess there isn’t. That said, this is the 3rd offer I have received (first to lease) in the past few weeks.
May 19, 2022
Re: Oil & Gas Lease
Section 9-10N-9W
Caddo County, Oklahoma
Dear Sir or Madam:
I have been authorized by Carlisle Court, LLC to offer you a three-year paid-up oil and gas lease
with a two-year option to extend lease in the above-described area and hereby propose the
following in exchange for lease of your interest:
Lease your interest in the captioned land for a bonus consideration of $500 per net
mineral acre and 3/16th royalty with an option to extend of $750 per net mineral acre.
If you are interested in leasing your interest at the above terms, please contact me at your earliest
convenience. My contact information is noted below. Upon confirmation, Carlisle Court, LLC
will prepare a lease and forward to you for review and execution. Carlisle Court, LLC will
commence title verification of your interest, and any lease will be subject to Carlisle Court,
LLC’s approval. Carlisle Court, LLC, in its sole opinion, will determine whether both are
acceptable. Carlisle Court, LLC reserves the right to terminate this offer at any time for any
reason. This offer will terminate fourteen (14) days after receipt.
Best regards,
I always ask for the 1/5th and 1/4 options as 3/16ths is the lowest that I would take. I do not take the option to extend. I recommend having an attorney look at draft leases for revisions as they are usually not in the mineral owner’s favor.
We also own acreage in 10N 9W but in Section 27. There is some interest increasing in the area. I had a great call with today to find out what’s going on there. You should have received a first letter from Jackfork Land and then Carlisle Court, LLC. By the way, same ownership! I’m told that Continental Resources uses JackFork Land…Our last lease was over three grand an acre with 1/4 royalty. Very early in the process but expect a better offer soon.
JRS
Thanks for this! We have Sec 14 10N 9W and also 9/9, both of which yielded great offers (high bonus, agreements to good lease terms and better royalty) back in 2018 I believe. So I’ll be checking here periodically if things heat up in that section of Caddo. Martha Aarons
I just received an off from Carlisle Court, LLC to lease our rights on 17/10/9W. Low ball offer, 1/3 of what we got in 2017. We are out of state so it can be challenging to keep up with what’s going on. Don’t see anyone else in this section commenting here. Anyone give us an idea of what’s going on? Last time we went from $350, 3/16 to $1500 1/5th. Gonna sit and stew until I can get some guesstimates, I think.
The only lease filed in that township in the last two years is from Notting Hill Properties in section 34. It was a memorandum of lease, so not much info and they want to keep it private. In general, across OK, my lease offers have been lower this year.
I heard from Carlisle Court, LLC this week with a similar low offer on another Caddo section 28-10-9, $500 1/8 3+2 where we last leased for $3200 1/5 and 3.
Thanks so much for the info! It’s always challenging trying to deal with these when we are out of the area. I find this site and the people on it so very helpful!!
Lease bonuses are much lower in all parts of Oklahoma. Gone are the days of receiving $5,000/ac to just sign a piece of paper. Too many groups lost millions with expiring leases.
Thank you so very much for your response. Your credentials are quite impressive and I am thankful that you took the time to answer me.
Since I last posted, last night, Ryan Newport called this morning and he said he has gotten the okay to offer all of our family $1,000 per acre at 3/16 and he sent the lease offer to us each, individually, in e-mail. We have asked for the contract to be sent in snail mail and he agreed. He is supposed to send it to all of us today or tomorrow. My question is this. I don’t want to break any rules on the forum as I am brand new. When the contract comes is it okay if I scan it and post it and get opinions? Or is that something we are not supposed to do? I want to be very respectful of people who have given me so much good information. Robin
Your wisest and most private option is to get a good OK oil and gas attorney to review the lease and make the proper edits. If this is a draft lease from an agent it is probably not going to be in your favor. Paying an attorney to look at it now and make the more favorable corrections can save your family lots of money in the long run. A lease can hold your family for decades. If there are post production charges in the lease, that is money lost to you. Better to get professional advice than our “free” advice that is not always up to date on current law.
Martha is correct. While the input from forum users is valuable, it is not a substitute for legal advice. The lease should be reviewed by an attorney.
This post is not legal, investment or tax advice, it is for discussion purposes only. Reading or responding to this post does not create an attorney-client relationship.
Thank you all so much. We found an Oil and Gas Atty in OKC who is doing a conflict of interest check, then he will be look everything over. Thank you all so very much for your expertise.
I talked with Steven Welch, landman for Carlisle Court and he said they have been and will continue to lease both the 22-10N-10W. and near by sections. Said they are only willing to offer the 3/16th at 500. Asked to eliminate the extension or double the price per acres $1000 and said he would check…