I have received a lease offer for 40 acres in the Bermuda Colony Subdivision. Does anyone know the going rates and signing bonuses?
Share what you were offered for lease term, bonus, % royalty, where, and net mineral acres or some idea of property size large or small. This will give us all a good idea for what is a fair offer.
Alicia, Bermuda Colony Subdivision is close to what Dimmit County town? Carrizo Springs, Asherton, Catarina?
I've heard as much $3,500 an acre in Catarina for bonus and 25% royalty for 3 year contract.
From the best I can tell, this is northwest Brundage and a little north east of Carrizo Springs. Offer I received was $300 per acre and 1/5 royalty, with a one year amendment to prior lease.
Hope Balderas said:
Alicia, Bermuda Colony Subdivision is close to what Dimmit County town? Carrizo Springs, Asherton, Catarina?
I've heard as much $3,500 an acre in Catarina for bonus and 25% royalty for 3 year contract.
Alicia Loya said:
From the best I can tell, this is northwest Brundage and a little north east of Carrizo Springs. Offer I received was $300 per acre and 1/5 royalty, with a one year amendment to prior lease.
Hope Balderas said:Alicia, Bermuda Colony Subdivision is close to what Dimmit County town? Carrizo Springs, Asherton, Catarina?
I've heard as much $3,500 an acre in Catarina for bonus and 25% royalty for 3 year contract.
Alicia, do a Google search on Eagle Ford Shale land leasing and royalties. Then you’ll have a better view of what’s going on in your area. I think what you have been quoted is rather low so please, do a Google search.
our 140 acres of minerals are available for leasing in the Lambrano survey in Dimmit …what should it lease for?
Have you heard of Chesapeake rescinding offers?
no i have not. what do you know about the activity there?
Alicia Loya said:
Have you heard of Chesapeake rescinding offers?
on another group in Dimmit county someone was complaining that Chesapeake was not paying them correctly that’s all I know
I have some property in Dimmit county, the bermuda colony, Has anyone recieved any offers for a lease around there? If so who is it, I would like to contact them?
Chesapeake made an offer earlier in the year, then rescinded within a month, after I told them the offer was low. I have a contact to Jared Borren that works in Dimmit so I was told I called serveral times, he never returned the call. 405-935-7923. Good Luck and keep us posted. I have rights in bermuda colony as well. I have received offers to sell, but am leary with that.
I have some property in the bermuda colony, do you know whats going on as of recent? I want to lease my minerals but dont know who is working down there?
Alicia Loya said:
Chesapeake made an offer earlier in the year, then rescinded within a month, after I told them the offer was low. I have a contact to Jared Borren that works in Dimmit so I was told I called serveral times, he never returned the call. 405-935-7923. Good Luck and keep us posted. I have rights in bermuda colony as well. I have received offers to sell, but am leary with that.
I've been trying to get information to get in contact with leasing companies in the Dimmit county area. Only own 20 acres between Asherton and Carrizo but have not been approached by either Chesapeake or Andadarko for leasing. If anyone can give me any leads, I would really appreciate it. I've had some input that some of my neighboring acreage has been leased to Chesapeake, but I have not had any offers as of yet.
Zen,
If at all possible avoid leasing with Chesapeake or any of their affiliates. They are bad news. Just two messages back this was said.
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zen7118 said:
I've been trying to get information to get in contact with leasing companies in the Dimmit county area. Only own 20 acres between Asherton and Carrizo but have not been approached by either Chesapeake or Andadarko for leasing. If anyone can give me any leads, I would really appreciate it. I've had some input that some of my neighboring acreage has been leased to Chesapeake, but I have not had any offers as of yet.
I represent a mineral owner who owns 115.4 acres of land, more or less, being all of Lot Three (3) in Block Forty-three (43) out of Subdivision F, of the Taft-Catarina Properties. Chesapeake was the only one interested in leasing, and CHK ultimately agreed to $2000 per acre, 1/4 royalty and 3 year term.
Ben,
If this message was intended for me, please address messages to whoever you are talking to. It saves a lot of confusion. : )
In response to your message, I hope your client gets the money owed him/her. It would please me greatly. If CHK is the only game in town there may be no choice in who you deal with. Just make sure everything is iron clad with no wiggle room on CHK's part. Blanca Peak wrote a lease for me and my two brothers. (Blanca Peak/Chesapeake, same thing) We were extremely naive and agreed to a 120 day draft, 3/16th royalty. The only reason we were eventually paid, there was a well permit applied for on one of our properties. To be sure they didn't lose the lease, Blanca Peak registered our minerals before paying us and then didn't pay us until the very last day of the draft. If there had not been a permit applied for I have no doubt Blanca Peak would have renegged on the lease altogether. Of course, my word means very little. I'm sure others like Charles Stewart will be happy to tell you about his half million dollar loss. Possibly others will join in as well. The only way to deal with CHK is to hold onto the lease original and the draft until money is released for it. Leave all of it with your bank in escrow so that CHK knows it is signed. Also, there is no reason for a draft to be set up longer than 45 days. I hope you are very experienced in the oil business and gave your client a good lease and he gets his money.
Have a great day,
Yours,
Wes Luke
Ben Elmore said:
I represent a mineral owner who owns 115.4 acres of land, more or less, being all of Lot Three (3) in Block Forty-three (43) out of Subdivision F, of the Taft-Catarina Properties. Chesapeake was the only one interested in leasing, and CHK ultimately agreed to $2000 per acre, 1/4 royalty and 3 year term.
I figured this was a discussion for everyone to post lease offers and terms as they get them, so I was not directing my post to anyone in particular. I hear you on CHK. I’m Board Certified in Oil & Gas Law and have had a lot of dealings with them in leasing and in litigation. I never accept a bank draft. Only exchange the executed lease for a cashier’s check for the bonus.
And you're absolutely right. But, so many people forget to address someone, these discussions can become so convoluted you don't know who is replying to whom. I do hope you have a great day. : )
Yours,
Wes Luke
Ben Elmore said:
I figured this was a discussion for everyone to post lease offers and terms as they get them, so I was not directing my post to anyone in particular. I hear you on CHK. I'm Board Certified in Oil & Gas Law and have had a lot of dealings with them in leasing and in litigation. I never accept a bank draft. Only exchange the executed lease for a cashier's check for the bonus.
Zen,
I can't advise you on this forum, but, if you will contact me via email, I have some very important info to share with you. No, I am not a landman, only a mineral owner who has had a bad experience. At my profile send me a "friend" message. I will respond with my email addy. I wish you the very best.
Yours,
Wes Luke