Hello, Can any one advise me on signing with Continental Resoures ? I have small share in 36-3N-5W Grady County, are there any drilling close ? I live in Ca. so I have no clue. Any info. would be sooooo appreciated, Thanks, Joyce
Joyce The best well I know of is right next to you so don't jump in too quick. I will get you some more information.
Ron
Thanks you Ron. I know before your through you will think she is so dumb but I will try to spread all the info. to my sibblings so we all know what is happening. Why do you say to wait . thanks Joyce
Joyce, Do you understand your options.
Ron. Not really. They gave 3 options.
Ron McKenzie said:
Joyce, Do you understand your options.
Ron, Some of my family who own shares have already signed with some one else a year ago and I just found this out when I got a call from Jackfork Land Inc. Joyce
Ron McKenzie said:
Joyce, Do you understand your options.
Joyce, If you have read some of the posts on the Grady Co. forum you may have an idea of the time frame from first application to drilling. It can be several months to a year, or more. Continental has not yet started the process on your section, so you probably don't need to be in a big rush to make a decision. The one advantage to signing now is you will get your bonus money without running the risk that they might eventually decide not to drill.
I've made some rough estimates on how much a fair to good well might make you per month at the different royalty %s. Based on one acre: 1/8 = $175/mo. 3/16 = 263/mo. 1/4 = $350/mo. This way you can judge how each bonus option could relate to your eventual royalty income. This is based on a well grossing $30,000 per day.
This is only an EXAMPLE results may vary!