Sorry about the lateness of this reply hope it has not be overcome by events. At any rate the lease offer was for 3 years with a possible 2 year extension for and additional $425/acre bonus. I think we were looking at 17% royalty but it was at the well head rather than at the point of sale. I’ve not negotiated for anything … I’ve decided to wait and see what happens. There are several wells that have come in within 10 miles of here, one is producing around 1,000 Barrels/Month.
Not sure if this is better for the comment wall or discussion forum but wanted to share this. Please share any interesting articles regarding Moffat County if they come up. I don’t have time to keep up with all the local papers. http://www.craigdailypress.com/news/2011/sep/16/officials-discuss-moffat-countys-oil-and-gas-activ/
How soon are the results of a seismic study posted - if they are,. And if anyone knows, where would they be recorded? I tried to find out on the Cogcc interactive map...(a wonderful informational source, by the way)The map does have a seismic operations map layer, but I couldn't find any way to get info. Thanks ya'll, Pam
Looking for information regarding leasing companies for 134 acres in Moffat County. The acreage is located in T6N R95W. Any help would be appreciated. Thank you.
Hi...we are new to this. My husband and his brother inherited mineral rights to T4N R91W quite a few years back. I have been paying the property taxes for quite some time. Recently my husband and his brother probated the rights and finally got them into their name and as you can imagine, we have been receiving calls to lease these rights. We have been contacted by companies to lease the rights for $750 a mineral acre with 17% Royalties. After reading thrugh the forums, looks like prices have gone up since last year...hopefully this means they are moving forward. Does anyone have any knowledge if anything is really happening in Moffat County? Or are they just buying up the leases and holding them?
SWEPI a/k/a Shell is active around that area and that may be close to the Williams Fork Unit. You might take a look at the COGCC websitefor information specific to your interest and activity. The mapping function is the easiest to use in my opinion. Also here is a link to my handout on negotiating oil and gas leasesthat you might find helpful.
The information in this article is for general information purposes only. This article should not be substituted for legal advice and should not be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or reading this article does not constitute, an attorney-client relationship. You are encouraged to contact an attorney for legal advice concerning the information provided in this article.
To understand how this works a land man will contact you and offer the lowest offer possible. In our case we knew better so we counter offered.
First offer was about $7000 for 160 acres
Second offer was $1400, We told the landman which was Tom Colton I think, that we knew we could get $56,000. He told us we were wrong and then a couple weeks later he came back and offered us that amount. We said no because we knew we had time to wait. He was not happy.
We contacted someone else that had done some bidding at a land auction.
We finally signed with a check for $240,000 at 18% for a 5 year no option to extend, This was in Morgan County 1 year ago
Hello Everyone,
Glad to see that we have a group here for Moffat County. I live in Maine and so your insight is appreciated.
Question? If anyone has any knowledge about the Sombrero Unit. Is there any new drilling?
I have been watching with some interest on Google Earth what appears to be 2 large multi-well pads that showed up last Spring. They are just north of highway 40 about 10 miles east of Craig where I have a 188 net acre interest. It was previously called the "Big Gulch field" years ago.
I think QuickSilver holds the "Unit" now, which they bought from "Foundation" (an oil and gas investment Fund), "Pioneer" formed the unit originally. I've leased that off and on for the last 40 years. Maybe this will be the year something happens?
Forever Hopeful , --George Keppel
Ooops! I meant 10 miles West of Craig. T7N R93W, Sec's 1 thru 36
Is there any way to get mineral rights of hundreds of acres that were leased to one company in the 50's who operate only 2 tiny gas wells yet have leased out to 8 other companies the rights of the rest of many acres of unused but held and non-productive nor used. Can you get the whole ball of wax back and then lease to someone else. We get tons of offers yet those tiny wells hold production somehow over what they have leased to 8 other companies, non of whom are doing nothing but holding them hostage. There has to be a way. The always is a way.
Thanks for any ideas. David Fancourt Agee Agee Gulch, Colorado
Myself and my four siblings are the owners of oil and gas rights in the Moffat County, Colorado. Our leases are located in Township 7 North, Range 91 West, 6th PM. Section 13: Lots 15 (40.56), 16 (40.57) and Section 24 Lots 1 (40.40), 2 (40.40), 7 (40.35), 9 (40.30), 10 (40.29). Our lease has recently expired and we are looking at offers to re-lease at this time. I am interested in finding some valid contacts who are interested in leasing. Ad well, we are seeking some information of other mineral rights owners in the area who are currently leasing and prices. I would appreciate any information you can give.
I am hoping someone can help me in regards to sourcing the best contact regarding the re-leasing of our mineral rights on our property in Craig Colorado. Any advice would be greatly appreciated.
Hi all...I am just reaching out to see if anyone knows about the letter and legal documents that many received from UnitSource Inc. re: Wood Gulch Unit Area, As Expanded Moffat, Routt and Rio Blanco Counties, Colorado saying that SWEPI has engaged UnitSource to assist in the expansion of the exiting Wood Gulch Unit Area in which we own royalty interest on two leases - T4N-R90W Sec 19: Lot 1 and T4N-R90W Sec 29 W/2NE4, SE/FnW/4. They want us to elect to commit our royalty interest to the proposed expansion of the Wood Gulch Unit Agreement. Is this something that I should do and sign or should I contact a lawyer. I am unfamiliar with all this as these leases were handed down. I am not sure if this is just a contact to grant exploration or if I sign I am giving up my rights. There are a lot of other people on the list that were given. Any information would be greatly appreciated before I spend the money to heir an attorney. Thank you again for any information.
You may have a leased mineral rights rather than just a royalty right. If that is the case, find out who owns your lease and what they are doing. SWEPI is most likely the controlling company. The unit may be limited to a specific formation, the unit proposal will state that. It will also state how your royalty is to be measured and paid that may be different from your lease. Unit expansion is usually a good thing for the mineral owner if he wants to extend the life of royalty income but try to get something in return.
If your lease is past its primary term, you may want to exchange a commitment to the unit for a release of all other formations not in the unit. With only 160 gross acres, only you need to measure the potential of your commitment to the alternative in whether you use a lawyer or not. If you do use a lawyer, find a lawyer with considerable oil and gas experience. When you get a division order, you will know your are being treated properly.
Thank you Gary!
We own mineral rights to Tract: 53T: 9N R: 93W. We leased the rights for a number of years but didn't pursue other leases when the last lease ran out. We were preparing to retire and travel full time in our motorhome. We are once again interested in leasing our mineral rights. We are also interested in any information anyone has to offer regarding leases in this area of Moffat County.
I am interested in hearing from people who have leased or sold mineral rights in Moffat County
Thanks
Anybody know of royalty interest sales since 2010?