Rocky creeks production numbers should come in soon. Hoping it’s big
penn offeref d me 350$ per acre. i laughed at him. he said they were working on only two tracts of land and the rest theyve dropped for now.
So this was not your 2 year option Penn was paying for…but for a whole new lease ? Was this an extension for just a couple of years ? or a new 3/2 ? what % royalty were they offering ?? still 25% ? thanks
I am in the Williamson Daniels survey and our initial period is about to expire with PV. Their extension offer is about half the $600 stated in the lease. For the folks taking the extension, what per acre rate are you actually getting? I have heard similar story that PV is only interested in working up a couple of tracts but I don’t know the details on them (boundaries). That would be interesting to know as well. Thank you for sharing information here!
my two year extension was supposed to pay me 1200$ per acre. they offered 350$. they told me they were working only two tracts but i don’t know where. he also said that no other tracts would be worked at this time,
this was for my two year option.
This is for both LAVACA FARMER and DIANNE–
First $1200 is a lot for the option period (2 years) especially for a lease written in 2017. i have ones in the area with Penn as well and my option is just $500/acre… .What Penn has leased lately–new leases not options are tracks owned by Whitley, Cerny, Meazle…just below the Olsosky unit…apparently they are going to do an XL on this unit with additional acreage. I have not seen them do anything else.on new leases…however you never know if they took mineral owners 2 year option, unless you talk to them… Now if you are really close to Olsvosky unit you could be placed in that unit…however Penn does have some leases coming up that are between the Styvek Rocky Creek unit( that is flaring as I type) and north Fork Creek to the east…this is going to be a new unit for Penn…Rocky Creek has the leases west of North Fork creek to the western boundary of the Olsvosky unit I am assuming that both of you are not in this Penn unit to be announced since these tracts are in the Mary Lewis survey…not Williamson Daniels…so if each of you can give me your exact acreage amount I should be able to find your tracts and give you more info…you might have a key tract that Penn needs…thanks
i have 25 acres on 532.
this was for 3 years extension. 20%royalty.
i just signed my paperwork with pv for my acreage. it is a 3 year option and i negotiated up to slightly higher than $450 per acre with a 20%.
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