New to Forum. Can anyone provide information on Sec 28 1 N 6W. We have a lease offer from Bearcat and I would like to now what acreage is leasing for in this area. Any information would be very much appreciated.
I believe the last offer I had was $1000 just north of yours. They were offering $350 this time last year It went up to $500 toward the end of the year. $700 earlier this year. It looks like Bearcat is just now getting to your area. They should be leasing for Continental.
What was your offer and were they trying to get you to take a 3 year w/2 year option?
Bearcat is offering a three year lease with no option at $502. per acre. I would not do a two year option. I leased acreage in 21 which is directly north of this acreage and refused the option there and was successful in doing so. Additionally, I am somewhat confused by the acreage being held by a net payment of $1.00 per year should the well be shut in. I would think there should be some time limitation on this clause. Also, do think that one well should hold rights to all depths. Believe me when I say that my knowledge is very limited. Regarding the clause "proportionate deduction for any transportation or other fees or taxes" ect. I do not agree to marketing or other charges to mineral interest.
I would appreciate any comments or information that can be provided.
Thank you.
You will want shut in, depth, and no costs clauses added.
Thank you!!! I was in the ball park but just didn't quite know how to word it! Definitely appreciate the help.
Rick Howell said:
You will want shut in, depth, and no costs clauses added.