Oil and Gas Lease

MinerialOwner

Higher in this chain of comments Garry_Smith suggested you check the Railroad Commission’s map for activity in your area. Great suggestion.

In case you aren’t familiar with RRC’s site, below is what their map currently shows. The three surveys you posted abstract numbers for are outlined in red.

I’m guessing the reason behind the lease offer you got from Drake relates to the permit location I circled in blue.

Here’s a link to a recent post discussing a very deep wildcat well currently being drilled in that location about 3 miles south of you. https://www.mineralrightsforum.com/t/bobby-yancey-well-1-stealth-test-well-for-comstock/77593

Based on the information in Alan’s post I being slow on committing to a lease and having the advice of an oil & gas attorney familiar with that area before signing anything.

Drake, and possible others, may have made offers to a lot of folks in your area. I’d try to talk to landowners around you, starting with the larger tracts, and see if they are willing to share information on offers they’ve received and might be interested in negotiating as a group. The more acreage you can put together the more negotiating leverage you’ll have.

1 Like