Hello! I don't see anything here about southern Logan County. My family has 5 acres in 28-15N-3W and received a lease offer of $350/acre, 3/16th and 3 years from Bob Hulsey (405) 990-3826. I emailed Greg Taft who responded promptly but hasn't worked his way that far south. Does anyone have any information about lease terms this far south? Thanks.
What is bob Halsey with? We are in 16n and are now seeing $400-$500
I failed to ask. Are the wells here oil or gas, verticle or horozontal?
Leon,
When you say your seeing $400-$500 in 16N, are you referring to the Northern part of the range or are you including the Southern part also and who is offering that?
we are in northern part, but have recently heard of 450 south of us.
Cary, who is Bob leasing for?
I forgot to ask who he is leasing for. I called him back two days after his call and left a message that we are interested but haven't heard back from him.
I have rights in 08-15N-3W, South half of the Southeast quarter (S/2 SE/4). I am not familiar how the townships and ranges run but would be interested in any leasing activity in the area.
i have 120 acres in 11-15n-2w,was offered $75per acre.3/16,,,,,, 3 year,,, ,and 3 year option,.whats your thoughts on this offer
John Fay: you are about 3 miles north north west of me and in general the further north you are the better. If you are anxious to lease you could call Bob Hulsey whose number I put in the opening comment. Also, the people in the Logan County discussion group speak highly of a land man named Greg Taft but he has not worked his way as far south as me, but you could try him. The leasing is moving in your direction. If you wait for it to get to you and have the land men call you then you will probably get a better offer, but, then again, the action might play out and maybe they would never get to you or it could take years. It is a gamble. The rule of thumb is that if a well is going to be drilled the longer you wait to sign the more you get.
DB: $75, 3 year, 3/16 sounds too low to me, and if the Lessee has an option for an additional 3 years at $75 it sounds even worse. I don't know much about Logan County, but I have minerals in other counties that are not as hot as Logan and I always ask for at least $150, 3 yr, 3/16 (no option) and will not settle for less than $100 per acre. But the people here know Logan County values better than I do.
By the way, Bob Hulsey did call back and I will lease on the terms in my opening comment. I made a note of who he leases for but lost the note (D'oh!). I'll post it when I come across it.