I wonder if anyone knows with whom Osage Oil and Gas is working. My understanding is they are leasing land on behalf of another company.
I recently leased a few acres in Scurry Co. section 158. The land man I was negotiating with was representing Osage and never mentioned that he was leasing this for another company. It took several months before I finally received my payment. When I received the check, it had came from Dragonfly Energy Inc.
Osage works hand in hand with 3span.
If you are dealing with 3 Span in this area, I leased in early 2020 for $1000 per acre, 1/4 royalty, and 3 years. Most of the recent wells they have completed in this area have been pretty good.
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Dealt with them, and I don’t trust them as far as I could throw them.
Leasing is my only interaction with 3 Span. I spoke to their head landman and was not impressed. I considered participating, but not after that encounter. Other than that, I do not know anything about their operation, I have 3 wells offsetting me currently and 1 permitted.
We are negotiating with Osage now on interests in Scurry/Mitchell Counties. During the course of 2021 we have come to agreement on the terms: 1/4 royalty, three year term, and bonus, $400 pnma.
Currently we are negotiating the lease language. They are wanting their lease and we want to use our attorney lease that he drew up.
Keeping our fingers crossed. And FYI: It pays to be patient in the negotiations.
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Focus on your royalty and lease terms. If Osage is leasing for 3 Span, then the bonus money is a smaller issue. If you look at the wells that 3 Span has completed recently, then you will start to see my point. 3 Span is working on a drill a well to hold the lease and then move to the next property. This method allows them to HBP multiple future drilling locations.
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