I have leased my mineral rights in Richland County to Diamond Resources and don’t know too much about drilling in that area as Im a novice. Could anyone help me out and let me know if my acreage would have a good chance of drilling? Location: 31 – 22N – 56E
Jay-I don't see any activity in your area for miles around you. But be patient--it may come!
Thanks Joanne.
I have mineral rights also in richland co mt my twn is 21 rang 59 section 26 they have been drilling for the past approx 8-9 months it did seem to take forever after i signed the lease to get the first royalty ck and the ck i belive was for the past 4 mths but as other people are saying it is a waiting game best of luck to you. Theresa
Jay, what does the 31 stand for? I'm in 22N - 56E. 31 must be your section. I'm north east of you. There are approximately 8 wells either spudded or permit to drill. Slawson is getting really aggressive in this area, FINALLY. It may be a bit before they get that far south. Theresa, I do not want to get to nosy but what amount roughly is a 4 month royalty check? I have two leases right now with a well being started on one of them. I'm just curious if they amount to much. Thank you.
By the way I sat on these for 20 plus years with no activity and I'm now on my third lease. Yep its a waiting game for some of us.
And sometimes you make more money on the lease than you do in oil production , because its a one time larger check than a piddly amount every month. But.....those piddly amounts do add up over time. When the net mineral acres are very small in a 1280 spacing unit--it may only be a small amount.