Inherited Mineral Rights in Coal County:
Section 11-2N-8E
Had several companies (Canyon Creek was one) contact us regarding leasing for horizontal drilling.
I'm not sure what are fair terms and $ per acre for this area, does anyone have an idea what the going rate is or is there a website I can go to for information as to what others around me have a contract for?
General offers in that area are for $150-750 per acre. This is not in the sweet spots of drilling, but activity is picking up. Always ask for 1/5th instead of the 3/16ths. There is no public site that has the actual lease prices that individuals have received. The forum is a good place that people share. The only public prices are those from poolings which can be found at the Oklahoma Corporation Commission. They have a handbook you can download which tells you how to use the site.
You need to make sure you get a good lease with no post production charges whatsoever. No enhanced payments, no nothing! The first lease they offer will not be the lease you want to sign. There are quite a few clauses you will probably need to change.
Canyon Creek just permitted a well to run from Section 2 south into Section 11 and then into 14. It is called the Boes #1-2/11/14H.
There will probably be a pooling very soon for that well.
Friend me with the blue icon if you need some more coaching on how to approach the leasing or pooling if you have never done it before.
Thank You so much. I will friend you as a copy of the lease is being emailed to me today to go over.
I've sent a few messages but not sure if you received them Martha.
The new lease agreement was sent and it's $400 an acre (up from$250) but they're not budging from 3/16th.
Could use your help going over the lease though, what's would be the best way for you to help, by phone?
Let me know Martha, thank you again for your generous offer of going through the lease with me!
Regards,
jaci
Friend me with the blue icon at the left of my name and we will go from there.
You accepted my friend request, however, none of my messages seem to be going through:(
If you like I can send you my # so we can talk live and go over the lease?
847-707-1351
thank you,
jaci