Oil & gas discussion group for those interested in Morgan County, CO. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
My minerals are 5N 60W in Morgan; long way from yours
We have a share of mineral rights in a parcel SW of Wiggins, 2N 60W . Recently contacted about leasing our share of rights. Wondering if anyone has had any recent experience with leases and offers, or have any pointers or cautions.
I have mineral rights in 4 N 60 W and was also contacted recently regarding leasing. Have you done anything at this point? We are waiting to see what happens but may consider if the terms improve as Weld County is right next door and generally resulting in favorable leases for owners.
I am also an owner 6 north, range 60 west. It says 160 acres or more.
I have an offer for 4 year lease. I need to know what is everyone else doing.
thanks
god bless
frank
have 360a T6N, R60W, section 3… Offer $200 bonus, 1/6 roy, 4 yr + 4 yr ext.
Push for 5 times that bonus and no more than a 5 yr lease. NO EXTENSION. It in no way helps you. Morgan County is hot.
A helpful checklist for negotiating an oil and gas lease - http://www.tlma.org/oilgasleasechecklist.pdf
According to an attorney I have spoken to, land owners aren't getting their water rights protected in leases. He suggests getting the rates agreed on and then present the lessee your lease written by your attorney. Protect what is yours. And they need to give you a good check at the time you give them a signed lease.
I’m leasing @ bonus $325 acre, 3/16, 4 year no extension… could do 3 yr at $285 bonus…
John Baldridge - baseline -
Jason Morin - Prima -
EDITED BY MRF ADMIN - Please use the private messaging system for contact information. Thank you.
I started the discussion above for everyone to share their lease rates.
Morgan County - Oil & Gas Lease Rates Discussion
Best of luck to everyone,
Phillip, I might have deleted your latest comment by accident. I believe it was a link to this site
I just received my 4th offer to buy my rights–this one from Anthem Oil and Gas. Has anyone else been getting these offers?
I am assisting two little old ladies in Twp. 2 N., Rge. 59 W. Any thoughts on current bonus/term/royalty?
My mom willed min interests in a section in T6 R58. This is far from the T6 R60 I see people asking about. We got an offer $100/acre, no roy, 5yr with 3yr option at $200. Good? Bad? Average?? Please help.
Also, where does one get a map to find Township 6, range 58? The county seat does not have anything online. I want to take my kids there this summer and show them their great grand parents homestead. Thanks.
Sincerely, Tom
It's difficult to know the 'value' of your area without more info. Look at the Colorado state land board and look at what leases near yours sold for at auction. That will give you a start. $100/ac souds low. NEVER sign the first offer and expect 1/6 - 1/8 royalty. It's OK to wait as they will certainly come back if they are really interested.
I've got about 50 acres of OG&M rights in Morgan County, in 5N, 58W, sections 29 and 32 roughly along Wildcat Creek. Been offered $100/ac for a 5-yr lease, plus $200/ac for 3 additional years at their option, plus 1/6 royalty. Is this reasonable? I'm a newbie. Thanks.
This is what I have been offered. I am in section 14 of township 6. Who is the landman you are working with? I spoke with some lawyers and this seems to be the rate for one landman. The only one who seems to be working the area. So, not sure if any competition is out there. The Oil and gas looks richer in the SW corner of Morgan. They seem to get a little more there.
For those locally in Morgan County that might be interested . . .
Thursday March 8, 2012
Country Steakout at 19592 East 8th Ave in Fort Morgan
9am-11am.
Premier Farm Credit is sponsoring “Protecting Your Rights in Oil and Gas Development,” presented by attorney Jenna H. Keller of Feldmann Nagel LLC.
response to TB...Springfield Oil Company is making the offer through landman, Jim Pelle. Seems like a nice guy. Which company and landman are you dealing with? What are your terms, $/ac, #yrs, royalties, etc.?