I'm an Alabama girl who is trying to make sense of oil and gas leases. I have a lease that was just automatically extended in section 21 by Chesapeake Oil and Jackfork by both sending checks. I think I have that cleared up. Chesapeake must have sold it to Continental which Jackfork represents and Chesapeake isn't up to date on their records. I'm filing Chesapeake check and depositing Jackfork. I'm stuck in this lease for two more years.
I have 2 offers to lease in section 20 and would I would like feedback as to what a good offer is. Any help? Both are straight leases. I was told by one individual that Marathon is aggressive in the area. The Continental representative said Continental is referring to it as a "proven reserve". Do not know whether to take the bonus or go with higher royalty.
I also have rights in section 6. Are they leasing this section? Nothing in the mail regarding this section. The other sure have been active!
I've learned a great deal in the last couple of days. So glad to find this forum and some assistance! I thank you in advance!
Leslie, Not stuck in anything if you have not signed a lease or cashed the draft. I have small interest in 19 1S 4W and being offered $500 and 1/4 royalty.
I prefer higher royalty. Freedom & Echo have been offering higher amounts than Continental, Chesapeake etc. Read the Grady County discussions there is a lot of action there as well.