Received a call from Green Wing Energy regarding leasing my mineral rights.
Section 19-2N-9E
Any advise on what to be aware of?
How do I know if there is any activity in my area?
How would I know if gas or oil is produced?
Thanks,
TLC in Illinois
I have acreage in that section. Accept my friend message and I can answer most of your questions.
This is mostly a gas area. Yes, there is quite a bit of activity in the area. If they have offered 3/16ths, ask what they are offering for 1/5th. The higher royalty is probably better.
Higher royalty but less in lease?
what kind of activity. GW told me nothing on the west but leases for the last 8 years. a well on the east but nothing happening.
Did you send friend request?
Over the long run, a higher royalty often pays out far more than a one time bonus payment. If the area is good or even reasonably economic, then they often drill more than one well and that is where the additional royalty really pays off. You only get paid the bonus once and royalty payments are for the life of the wells. If you can get 1/5th, then that is great. If not, then 3/16ths will be fine.
Thanks for the info/advice. According to GWE there is a well in the east section. How do I know if anything is happening there? Is it just there or are they drillling?
Yes, yesterday. Check your home page. Mine says “request sent”
I agree with Martha. I always take the highest royalty I can get.