Toni, if you don’t mind, when did you finalize the Wulfjen Lease?
Jennifer and Aaron…
are those offers coming from a landman… land broker or directly from an oil/gas company. I think the oil/gas companies will pay up to 25% royalty. The lease bonus is another story… depending on the value of the location. The landman or broker need to make $$$ on the deal… so often times they’ll take the percent difference in royalty as their payment… sometimes the difference per acre in bonus too. You can’t blame them… it’s a living.
Aaron,
If it helps, we were offered 22.5% and settled on 25% and $600 bonus about 8 months ago. We are NE of CC. We received an offer last week to purchase our minerals for 2 1/2 times the bonus check. Everything still seems to be on go.JB, HOW close to Buford are you?
Toni, cigars & Crown Royal goes a long ways in the oil patch!
Now an 18 pack might have them in the palm of your hands, lol.
We got 2 different offers across the road from each other…both we just have ratification on. Quite a bit of difference on bonus and royalty! Cousin’s message me and I will tell you the differences. One we haven’t actually gotten…and the other we share with the bigger family!
Woods, I tried to edit that and totally messed it up. The one we have not received yet is is the one we share with the rest of the bigger family and so far the best bonus/acre and royalty. Less to us because we share with so many.
Should have been whoops…I can’t type this am…
Jennifer and P. Flash, THANK Y’ALL for the neighborly MRF advice. It brings to mind that saying “Never bring a knife to a gun fight” Now I understand what that means : )
Gary, We finalized Sept '08
Came across the Assignment , Bill of Sale, and Conveyance from Devon Energy to Summit Discovery Resources III LLC, filed in Vol 785 p 725 Official Public Records, for those of you who may want to look it up. The president of Summit is Kazuyuki Onose, so I suppose this is the foreign investor they took in as a partner. Looks like they assigned an undivided 30% of the leases which are specified in the document. There are other details I don’t understand so I won’t go into any specifics.
Besides the assignments from Lincoln Land and Title, who leased for Devon in Mitchell County, there are also assignments from other companies whom I think Devon bought out. Some of those are Energex, Double Eagle, Blue Sky Energy, Cholla Petroleum, MCM Energy Partners, Stevens & Tull Development, Deep Creek Resources, Buckhorn Aviation, Wilson Royalty LLC, Nadel & Gussman Permian LLC, Alpine Petroleum, NI Consulting.
I made a copy of the document, 65 pages, since it included our leases, and if any of you leased to those companies named above and want me to look and see if Devon picked up your lease, I would be happy to see if I can find it.
So Toni, do you think that we’ll have to wait four years for drilling on my mom’s lease?
I sure hope you don’t. Maybe the number of rigs they bring in will multiply like bunny rabbits.
I hadn’t thought about the 2 year part of the lease. It has been a yr and 2 mos since we leased with Firewheel, Blk 25, Sec 75 T & P. Hopefully that means they will be doing something this coming year.
Diana, we have Sec. 47, Block 26 and also signed with Firewheel last March. I think they have 3 yrs to drill on ours. I called Firewheel last week to see if they would tell me anything, but, of course, have not received a call back! Glad for any info.!!
Will reply on your comment wall. It’s kinda long.
I like your way of thinking. Do you have any concept of the amount of time between signing and drilling on the other leases?j
Hi Toni,
Thank you for your kind offer; I would very much appreciate you checking our lease. It is with Nadel and Gussman Permian LLC for all of Section 28, Block and S/2 of S/2 Section 27, Block 28, both T-1-S, T&P Ry. Co. Survey.
I’ve been meaning to ask my Mom who all she knows of the posters here. I’m W.E. Smith Jr’s daughter. We lived South of Westbrook.
I’ve very much appreciated all of the information posted here!
Gary, look at history on Eagle ford drilling started slow. Then quickly multiplied. From other posts, first reports on production should be in March. After that , I think things will get very busy. They are moving people in, housing is increasing, etc, etc! Also, they are trying to get ratifications completed since many the only have 2 years to start!
Thanks Cheryl.