After roughly 9 years without a lease I was just contacted by a land man wanting to discuss a lease. Considering how much time has passed, can anyone provide a current rate for a lease in Live Oak County? What seems to be the going rate?
Hello Rusty, lease rates can vary based on location and lease clauses. Can you tell us what area the lease covers and the terms, e.g. 2 year primary with the option to extend for X years, All depths or depth restricted, etc. This information will assist in giving you a more accurate response.
Lori
The property is on the dry gas side of the Eagle Ford. We do not have a formal offer but before that happens was wondering what people were getting.
I know this was several years ago, but what bonus lease consideration money did you end up getting. I’ve been offered a lease and have no idea what to ask for.
Turns out we were never offered a lease. We’ve been waiting patiently until now, when I was called by a gentleman representing a company that would like to reopen the existing wells on our pool. He’s offering the same terms that we had on our previous lease ($200 acre/ 3/16 royalty). Our lease is currently being reviewed by our attorneys in George West.
Rusty - do you have a recommendation for an oil and gas attorney in George West? We need someone local and trustworthy to review a lease. Any help would be appreciated.
FYI - We got a Landman offer recently. $750/acre bonus and 1/5 lease. 3 yr primary term with 2 year extended option.
I use Schneider & McWilliams in George West. Would you mind sharing the name of the land man who contacted you?
Rusty - it was dalton.w.hamilton at gmail , who was acting as an agent for Tilden Capital. Thanks for your advice on the law firm!