I just received a phone call from Bear Cat wanting to lease Sec. 36-1N-6W...does anyone know what's going on around that area? They offered 400 got them to 500 then said I would research it and get back to them. Is this a fair price..most of my Stephens are in south and west so not sure about north and west..if it is close to a good area I wouldn't know...any help, Rick? Ann? thanks
Elizabeth,
I'm not sure, but I've had offers from Bear Cat that were $250-$500 in various sections of 1N-6W. I declined the offers. I can't find any applications on 1N-6W so I think it is too early in the lease process to maximize my potential. I'm willing to risk interest in the area dropping and it not being leased, however.
I counted at least 100 leases granted to Bear Cat in 1N - 6W since July.
I thought it too early as well but the comment below saying there are at least 100 leases in the area since July makes me wonder if I should go ahead and lease...but feel that offer should be higher. Should I just hold out for a while? seems like every time I do that I get pooled! Why do you feel interest will drop?
Rick Howell said:
Elizabeth,
I'm not sure, but I've had offers from Bear Cat that were $250-$500 in various sections of 1N-6W. I declined the offers. I can't find any applications on 1N-6W so I think it is too early in the lease process to maximize my potential. I'm willing to risk interest in the area dropping and it not being leased, however.
were any in the section I was referring to? 36?
Kenneth said:
I counted at least 100 leases granted to Bear Cat in 1N - 6W since July.
Elizabeth I checked the county records for 36-1N-6W and Northwest Oil and Gas and Marathon have been leasing in that section this year, last ones in April and May 2012. I would suggest you call Marathon and see if they are interested in leasing.
14 so far this year and yes the last was in April.
Elizabeth Kirkpatrick said:
were any in the section I was referring to? 36?
Kenneth said:I counted at least 100 leases granted to Bear Cat in 1N - 6W since July.
There were 34 leases filed the 12 months in section 36. Marathon was slowing down in the area, but that might have changed. Interest will drop, it always does. It just depends on if it happens in 2 months or 10 years. CHK leased most of it in 2008 and interest dropped enough they did not take any of the options in 2011. I'm betting the interest will go up instead of down and I may want to participate if forced pooled anyhow.
Bearcat should work with you on your clauses if you decide to go ahead and lease. $500 is not bad, I'm just hoping for a bit more.
Elizabeth Kirkpatrick said:
I thought it too early as well but the comment below saying there are at least 100 leases in the area since July makes me wonder if I should go ahead and lease...but feel that offer should be higher. Should I just hold out for a while? seems like every time I do that I get pooled! Why do you feel interest will drop?
Rick Howell said:Elizabeth,
I'm not sure, but I've had offers from Bear Cat that were $250-$500 in various sections of 1N-6W. I declined the offers. I can't find any applications on 1N-6W so I think it is too early in the lease process to maximize my potential. I'm willing to risk interest in the area dropping and it not being leased, however.
thanks everyone for your comments and info…don’t care for the bear cat lease …they wont put the clauses in that i want so may call marathon as suggested.
I still plan on sitting on mine in the area and I think it would be to your advantage to do the same.
I need to take a trip to Stephens County, hopefully in the next week or two. Bearcat has filed several leases in 1N-6W that are more than two pages, included a few in section 35. That usually shows there is an appendix with additional clauses. I'd like to take a look at a few of them while I'm in town.
I can't find a number for Marathon...went on line and they say no landman to talk to and I have to write a letter ...go figure? do you have a number
Richard Pruitt said:
Elizabeth I checked the county records for 36-1N-6W and Northwest Oil and Gas and Marathon have been leasing in that section this year, last ones in April and May 2012. I would suggest you call Marathon and see if they are interested in leasing.
they keep hounding me to get my lease in but they won't put in the clauses I want so that's why I' m looking into Marathon...still need a number...rick i sent you a message in the message center along with a few others for assistance...thanks
Rick Howell said:
I still plan on sitting on mine in the area and I think it would be to your advantage to do the same.
I need to take a trip to Stephens County, hopefully in the next week or two. Bearcat has filed several leases in 1N-6W that are more than two pages, included a few in section 35. That usually shows there is an appendix with additional clauses. I'd like to take a look at a few of them while I'm in town.