I dont have a clue to mineral rights. Got letter from Calyx, saying they want to drill.
offers for $250 acre bonus/ 1/8th loyalty, 3 yr term.
$200/acre, 3/16th
$100acre/ 1/5 royality.
cAN I BARGAIN FOR A BETTER DEAL?? OR NO.......aRE THERE OTHER SECCESSFUL OIL RIGS IN THE COUNTY?
are there many oil rigs in this area. section 23-12N-3e- says 640 acre unit.
The mineral deed says, undivided one-half interest= meaning what exactly?? says SW quarter section 23, township 12 N, and range 3 East of the Indian Meridian. does this mean they are gonna drill on 160 acres??????? out of 640, or the full 640?????????
HELP PLEASE;;;;;;;;THANKS GRADY
Grady first of all welcome to the forum. How i read your thread you own 80 acres of minerals in 23-12N-3E. At the curent time there is no drilling or applications for permits in the 12N-3E area but according to county records Calyx is leasing in the area heavily. The lease bonus seems to be average for the area at this time. You can always bargin or wait it out for awhile to see if prices go up. Calyx seems to be good to work with in adding any clauses you would like in your lease.You can read the comment wall on this county forum to see what is going on in the area, Do not be afaird to ask questions concerning leasing etc. there are many helpful people on the forum.
You can and should bargain for a better deal and additional favorable lease clauses.
Matthew like what clauses? and how much of a better deal?
how did u come up with 80 acres? Is that still alot?
they want to drill horizonal also. in order to do that, would they cover more acres right, and would i be paid for that?