If you get a lease in the mail that is like the ones you have been getting the last 10 or so years, you better think twice before you sign it. I signed a lease, and a week later got another one that was over 3.5 times as big. It cost me a LOT of money. If you get any lease, call Land Services 405-485-3800 and check with them to see if they are leasing those minerals. They have been giving $450 an acre in a bunch of sections. The game has changed completely in these counties. I have another outfit trying to outbid the Land Services bid of $450 for a lease in Cleveland County! I am not sure what is going on. Maybe some of the big time drillers are going to be showing up shortly, who knows but this is real. I just want to be sure all of you know this is real and don't miss the money you should be getting. If you get a lease, I would wait at least 10-14 day before you sign it. There are some people front-running the big lease that is coming your way. Good Luck and I hope I make some of you some money!
Joe, thanks for the info. What section do they have an interest in? Land Services was the 2nd company that made us an offer back in April but we have made no commitment.
Who was the rep with Land Services? Our rep seems to be slow to respond to follow-up questions.
A whole bunch of sections Craig. There are a bunch of reps there, right now a young guy Ian is going to lease some from me. They are not the fastest but they will pay a lot more than anybody else so be sure you take your time and get the most you can out of that 3 year lease. Your much better off waiting a month than signing a lease for 30% of what it is really worth.
What is the percentage on the royalty if you dont mind sharing?
3/16 is standard on everything I have ever seen. Some people are offering a 1/5 and 0 now a bunch I noticed. But, the bonus money is so high I don't see skipping it for 1.25% more royalty. If they don't drill then you have nothing.
I might add, the guy that leased it said they hope to drill a well on this by the first quarter of next year. So leasing too cheap does not hurt as bad if it happens!
I am still waiting to get something positive from 15 - 6N 4W. Had an offer from apache however when we went to negotiate it we got a "we are no longer leasing in that section" response. staying positive and prayerful!
Okay
H
Really new at this can someone tell me what is going on in section 20 and 19 t 5 north