Are oil companies still taking leases, now that oil prices have fallen so much?
We have received a number of offers to purchase our minerals in Weld County. The last activity we had was lease extensions/renewals in November. I think many companies are looking to "ride out" the price fall and wait for better times in 1-3 years with prices back to $60-$100/bbl.
There are operators who are willing to "ride out" the falling prices and then develop when it's more economic. I do want to add that there is a difference between offers to purchase minerals and offers to lease.