Have been offered $300 an acre with 1/5 royalty. Have be informed that they have well site prepped and are beginning to drill on site off of Bowling Green Rd. just east of Woodville off of Hwy 24. with plans for 5 more wells. Will be best to wait to see the outcome of this well and if it is a producer I would look for the amounts to lease mineral rights to go up.
Can you tell me what section, township and range this particular offer is in?
Have you seen or heard any more recent activity in Leasing?
I was made an offer for $200 an acre and countered with $300 and they said flat out that they are not making any changes in their offer. This was 3 weeks ago and we have not been able to make any progress. Can you put me on the the land man that you used? You can email me if you like @[email protected] if you would like to keep things confidential.
Thanks!
R. McGraw,
Can you share with me the landman and company that you are dealing with? I have 4 offers, the best being $275, but there are still other issues with potential horizontal drilling negatives.Have you considered pooling?
Do you know anyone that is the leader/negotiator of a pool in Wilkinson County?
If you wish to deal privately, I would be happy to "friend" you.
Thanks,
H.J. Anderson Inc.
Robert E. Buie said:
R. McGraw,
Can you share with me the landman and company that you are dealing with? I have 4 offers, the best being $275, but there are still other issues with potential horizontal drilling negatives.Have you considered pooling?
Do you know anyone that is the leader/negotiator of a pool in Wilkinson County?
If you wish to deal privately, I would be happy to "friend" you.
Thanks,
I have been offered $200 for 3 years with 3/16, with 2 year option at $120. There are some active wells in the area. My property is on Perrytown Road, 68 acres. It appears offers are around this amount. I am looking to see what is going on I the area.
Hi Eric,
Sorry that I didn't get back to you earlier but had company all day. I know for a fact that you can get $275 to $300 per acre for 3 years with a "like amount" for next two option years. Do not settle for 3/16 on your royalty because 1/4 is the going rate in your area but you may have to eventually consider 1/5 if you go higher on the bonus amount or unless you want to hold out a little longer. Test results in the Tuscaloosa Marine Shell are starting to come forth and, so far, are looking good. The landsmen, drillers(operators) and the oil companies have really been hush-hush about this for a long time and have reaped unbelievable monetary benefits from people like you and me that signed for bonuses, etc., far below their worth. That is going to change soon.
You can get a better deal than you have now by using the H. J. Anderson(Harold J. Anderson LLC, I think out of Metarie, LA) I can get their phone numer for you if you wish. There are many, many, others out there and I would shop as many of them as possible before making a decision.
Whatever you do , do not let them talk you into signing a "drainage" clause in your lease that could virtually cheat you out of any royalties by going underneath your land to extract oil or gas from another property unless you share equally with the "unit" that you are in. And........ make sure you are in a "unit"!
It is my understanding that they are currently drilling a well in the Perrytown area so it won't be long before you will have some actual results to make better decisions.
Let me know if you hear anything of interest. I have spent probably a hundred hours researching the Tuscaloosa Marine Shale Project. Info is hard to come by from fellow bloggers, I would like to see everybody involved in anyway with this project be able to share in the rewards. The oil companies are selling shares in these leases to foreign countries. We all need to get a good slice of the pie.
Bob
I just received the offer Friday evening, so I have been in reading as much as possible. I know a few folks in the oil business and I am going to touch base with them this week. They are both retired but still have some connections. If they can do some digging for us I will let you know. I really appreciate your reply.
I spoke with someone in East Feliciana, and they signed a lease for $372 with a 22% royalty. They were told a well would be drilled.