Anybody know anything about Section 24 9N 4W? I got an offer to lease at $1500 per acre. It is a herky jerky lease though. They have 45 days to pay. So my first thought is maybe they are in the know and going to flip it. The company is Cockerell Energy LLC.
Most likely they will flip-nothing wrong with that. I hardly ever hand over a lease without getting a check and only if I know the landman is honest.
The most important thing is to get a good lease with no post production charges among many other items.
I have been getting lots of offers to buy those minerals. My thought process is maybe its going to be drilled pretty soon and the bonus will be much higher.
I usually wait until right before pooling as the offers usually rise especially from third party lessees. Any time you get multiple sales offers, something is about to happen.
Do you think there is a chance at a 1/4 in that area?
I always ask!
Somebody just got offered $4000 at 21 8n 4w. Yes, I think I better wait!
yes, i just got 4000 an acre and 1/5 royalties with no deductions in section 21
The leasing company has been all over me to provide all kinds of stuff for the lease at 24 9N 4W. I have NEVER had to provide so many things on a lease! Does lead me to believe this will be drilled pretty quick. Also, countless buy offers in the mail in the last year.
Joe_S Better make sure you get a really good lease and an excellent Exhibit A on that lease. No post production charges, a depth clause, limit your shut in time, no warranty of title, no force majuere, no top lease, etc., etc.,
If they are asking for things to clean up title, then yes. That is good news. If title is not clear, you do not get paid royalties.
Today, Cockerell, the outfit I leased to sent a buy offer for $10,000 per acre. No way we are selling! I think an intent to drill is just around the corner!