Hi All I’m wondering how many others have had offers lately. I have one for Sec 25, 3S, 1W - $500/acre at 1/8th and $300/acre for 3/16ths. Obviously there is negotiating to do. But I am wonder if there are many more offers out there and why? I’m surprised that I got any offer in Carter with the downturn and they are very eager. So what is happening in Carter? Thanks to all.
XTO is still active in Carter. I don't know if they are going to, or have already, cut back.
I saw a newspaper notice for Indian Land leasing last month: Continental Resources, Section 5, 4S 1W, $502/ac. pd up, 3/16ths.
In the last few days I saw a legal notice for XTO I believe it was in 1E. It was not a lease, I think either Pooling, Spacing or Location Exception.
Who made the offer in 3s-1w Rick? Before the downturn I know apache was paying $1500/acre in there
Who made the offer?
Sorry been out of touch. The offer came from Kathy Street for Bearcat Land. They still seem very eager. I am trying to nail down a good Pugh Clause now.
This is the one I've used quite a bit, Rick.
At the end of the primary lease term of this lease, all leasehold acreage outside of a unit formerly established by the state oil and gas commission (whatever your states name might be i.e. Corporation Commission) will be released and all depths below the base of the deepest producing formation will be released. Such release document will be recorded in the county of property location and a recorded copy will be provided to lessor.
Thanks Ann. This is good. I found one that separated it into two clauses - one for acreage held and one for depth below well. I like this on though because it is all in one. Thanks again
Thanks for the "heads up" Rick. Received a call today concerning our interest in Sec. 27&28 of 3S-1W. Same terms you describe, but they are mailing more information. Not sure who is making this offer.
To Rick. we signed a lease with Recon Resources on Oct of 2014 for 750 $ per acre and 20 % royalty on our sect 29& 30,Sid
Rick: They are gradually moving south and southeast in the SCOOP Woodford. They just sounded a well in 36-3S-3W. They have about 7 or 8 completed in 3S-3W. So I expect they will gradually be moving east. BUT...I am in that 36-3S-3w well, and they originally leased it 3 years ago...and the lease calls started some months before that. What are the best offers you have gotten elsewhere? I know a lease broker I can refer you to that can get you better deals if he is interested in that area. I'll send you a friend request.
Rick
You should be able to get the 3/16 on that offer vs. the 1/8 if you have not yet signed up.
Also, has anyone received an offer lately for section 27 and does anyone know of a good way to get
info on historical mineral sales in Carter going back 15 years or so(especialy section 34)...maybe one of you sold or bought
some Carter mineral back then?
Who is "they" ? My interest is in 36-3W -1W.
Thanks for all the replies. I haven't had time to be on the site lately.
I did get $500 + 3/16ths because they would not go for 20% and I would not go below 3/16ths. I did add a pugh clause from this website and got wording in to limit post production costs. We will see how well those work out. More patience would have help because they did agree fairly quickly - within three weeks. Live and learn.
Hi. Wondering if it is advantageous to wait and see if a tract is pooled vs agreeing to a lease up front. Any thoughts?