I’ve received a lease offer in S7-1N-5W.
$1750 per net mineral acre plus 1/8th royalty or $1250 per net mineral acre plus 1/5th royalty
Has anyone else received lease offers in this area?
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There are quite a few leasing companies working in 7-1N-5W.
Received a second lease offer in S7-1N-5W. This time $1250 per net mineral acre plus 3/16 royalty.
I always ask what they are offering at 1/5th and 1/4th to see what the full range of offers may be. Best to get an oil and gas lawyer take a look at any draft lease as the clauses are much more important than the bonus amounts. Most leases will need some edits.
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Is there hope of drilling in this area?
The $1250 and 1/5th is better as the royalty is higher. There are quite a few leasing companies working this section. There are offers for 1/4 which is the best royalty. It would be wise to get a good oil and gas attorney to look at any lease drafts as they are not generally in the mineral owner’s favor.
Continental has already filed cases at the OCC for a horizontal well in Sections 7 & 6, so I think there is a good chance for a well in this section. If you have not received those mailings, you need to contact their attorney.
CONTINENTAL RESOURCES, INC.
P.O. BOX 269091 OKLAHOMA CITY, OK 73126
Contact Name: ERIC HUDDLESTON Contact Phone: 405-232-3722
I used Nathan L. Cook out of OKC to work my contract. I feel like he gor me the best lease possible while protecting my water and surface actes. I had 160 acres, so it was what we needed.
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