Michael is right.
Christa,
I'd bet good money that Red Oak is not going to even consider a 1 year lease and it would not surprise me if they would not consider a lease without an option. No leases have been filed in section 8 yet. That tells me they are on the first round of leasing. The leasing process usually takes a year or so. Normally they hit a first round to try to tie as much as possible, and as cheap as possible. Then they will start a second round. Usually you will start to see terms a bit more negotiable as time goes. In some cases the first round of leasing is assigned to contract landmen that have nothing but a list of owners and their NMA and possible contact info. They may have no authority to negotiate or additional knowledge of the project.
Marathon does not seem to be interested in that section at this time. I think Red Oak is speculating that someone will in the next 3-5 years. If speculating, they want that long tie-up for the same reason. They do not appear to be an operator.
Marthon has only leased in section 16 of the surrounding eight sections. It has been a year since they signed a lease in 16. They were not interested in leasing mine in mid-2012.
Hey Christa and Rick, Did either of you or your families know O. L. and Joie Tapp from Marlow(my grandparents), or Mary Jo Tapp(my mom)?
Beth, That name does not sound familiar.
Hey Hutch…first time since the new format that I’ve seen you on here. Good to hear from you! The reason is probably because I’m not smart enough to navigate on here very well at all. Hope all is well with you and yours! Linda