We recently received a lease offer from CGS Operating LLC in Dawson but my son said they have been leasing in Gaines as well. Has anyone else been contacted by them? If so, did you lease to them?
On www.texasfile.com one can see a number of leases recorded in the southeast part of Gaines county by CGS Operating.
I received an offer from CGS Operating LLC last week for property I have in Gaines County. They offered $450/acre and 20% royalty for a 3 year lease with a 3 year option for an additional $450/acre if they decided to extend the original lease. I am still evaluating the offer. What have you done with your offer?
We ended up leasing to them. Apparently, this company is leasing on behalf of EOG. If that’s the case, it is great news for our area in that EOG is a top tier operator and very successful in a lot of other basins. One of my nephews works in the industry and said that if i was going to lease to a company, they should be the ones to go with. We negotiated for $500/acre @ 20% royalty. Hope this helps!
Thank you very much. This is helpful.