I received an offer of $1650 bonus, 3/16 royalty, 3-year lease on 5 net acres in 15-14N-6W. I turned it down and now the leasing consultant (Paragon Land Consultants) wants me to counter. Any suggestions on how to proceed? Thanks.
Wait until the pooling order comes out on sections 9 & 16. The hearing was "supposed" to be on August 10. Then you will know what the going rate in the area is. Those are with Newfield. The most recent one by Felix was for section 10. $1400 3/16th, $1300 1/5th. Your offer of $1650 and 3/16ths is better than this one. Ask what they are offering for 1/5th. Make sure you get a good lease-depth clause, tight shut-in clause, NO DEDUCTIONS at all (not an "enhanced" clause), no top lease, no warranty of title, and make sure you have a Commencement of drilling clause. The lease they will send you is not the lease you want to end up with.....
Thank you, Ms. Barnes. They have upped their offer to $2000 at 3/16. I will ask what they will offer for 1/5 and I will ask to see their proposed lease. Any word on the pooling offer? Thank you very much for your help. Would you consider communicating with me directly and not through this forum? Margaret
Yes, friend me and we can take it offline.
No results posted on those two poolings yet. There was some jockeying going on....