I received a lease offer from Goodrich Petroleum for $250.00/Acres and 20% royalty for 3 years for Oil, Gas, and Mineral rights in section 6, T1N, R6E, Amite County, MS. I am an heir. I and my siblings own about 7.5 acres. When we asked for more the agent said that since my cousin had signed and returned her lease, $250.00/acre and 20% royalty, we will have to take the offer. Is it true that we have to accept the offer? Is it a fair offer?
We’re signing with Encana. They offered $250 also but since we signed with them last summer for $300 they honored that. The going rate is $250 across the county. As far as one person signing and then everyone has to accept the same I’m not sure. We’ve always waited until we all agree before committing to anything.
Oh, 1/5 royalty is what we have also.
Hello, Encana is petitioning to drill in the below area. If I own royalty rights in sec 30, what does this mean? When do I get notified? Thx Ralph
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Petition of Encana Oil and Gas (USA), Inc., requesting the Board to integrate all interests in a 2,025-acre oil unit, situated in Sections 13, 26, 27, 28, 29, 30, 35, 43, 44, 45 and 47, Township 2 North, Range 3 East, to horizontally drill the Tumey 30H No. 1 Well to a depth of 12,160' and the Tumey 30H No. 2 Well, as an increased density well, to a depth of 12,010' to test the Tuscaloosa Marine Shale Formation at regular locations. |
Encana is also looking to drill here as well:). If my royalty rights, in sec 30 bump up to sec 31 or 25 as an example, what does this mean, if anything? Thx Ralph
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Petition of Encana Oil and Gas (USA), Inc., requesting the Board to integrate all interests in a 1,966-acre oil unit, situated in Sections 25, 31, 42 and 44, Township 2 North, Range 3 East, to horizontally drill the Harvey 31H No. 1 Well to a depth of 12,160' and the Harvey 31H No. 2 Well, as an increased density well, to a depth of 12,010' to test the Tuscaloosa Marine Shale Formation at regular locations. |