I received an offer from Lowry for Chesapeake for Sec. 14-1S-4W for $250.00 and 3/16ths..is this an area that is starting to get hot and should I get more? The lease as is, is pretty bad so need to make changes...anyone leasing in this area? thanks
everyone in the 2N 4W has received better offers (from what I’ve heard) but Im not sure about your area. It seems like waiting is never a bad idea in this situation.
Elizabeth i think from the discussion on here this is a pretty hot area you need to ask Linda
keck i think.
I suggest you contact LE Jones Co. in Duncan. They will give you an offer.
I actually have this leased to L.E Jones already....duh! They are leasing about 5 other properties from me right now we are negotiating but they said that something is going to happen soon on this..I had this leased three years ago and had an extension so had to sign on again and while discussing this they said don't worry it starting to happen...anyone know what?
Elizabeth, If your Royalty is south of the old Claud school house which I believe it is that has always been a hot spot for wells. Samedan (probably not spelled right) has that flood down there. I wouldn't think that's enough money to lease for but I really don't want to give you advice on money issues because I'm not qualified to do so. I just do what my husband thinks is best in those areas. We leased ours in 2n,4w for $600. an acre with 3/16th before we knew all this drilling was starting and I think we probably leased too cheap but have been happy because they drilled a really good well on us with "The Branch". Kind of wished we had leased for less money and took more interest percentage. But hind sights 20/20. We had leased out a few times before this and they never drilled on us. You could always ask for more and my bet is you'd probably get it. From what the guys have said on here if you wait to be forced pooled you might get quite a bit more than that but then you are betting that they will drill because if they don't then you would lose whatever bonus they might give you. Good Luck in whatever you decide to do!!
Thanks for the info Linda. I am still sitting on it but not for the money...It's the language in the leases (which ends up being all about the future money) . I am still learning the clauses, etc. and always second guessing my instincts so.... I have been reading, networking, and on the internet tryingt to get the best clauses in the leases but they don't want to change or add the clauses so back and forth...ho hum! Congrats on your " Branch" well. I was really excited when I got my first well in my family name so bask in the glory!