Was just approached by Wildhorse to lease our 68 acres for $200 an acre for 3 years with option for 2 more? Is this a good rate? Seems low? Thoughts?
We were offered $300 an acre for a 3 yr lease with a 2 yr option. Our Land is in the Daniel Perry League (A-198) Anyone else have any offers?
They came came with $250 an acre but would not budge on the 20%. We are stall Ing
I looked at the Texas Railroad Commission website, at the drilling permit activity in Burleson County, and it looks like Wildhorse is the only company drilling there right now.
http://webapps2.rrc.texas.gov/EWA/drillingPermitsQueryAction.do
Select District 03, then select Burleson County. Scroll to the bottom and in “Submitted Date From:” put 4/1/2018, and in “Submitted Date To:” put 6/22/2018, then click the “Submit” button in the very bottom lefthand corner.
Wildhorse has about 30 drilling permit applications they have submitted for wells in Burleson since April 1. One almost daily.
Wildhorse is drilling a lot of horizontal wells in Burleson. Keep this in mind: in Texas, if your land is inside the pooled unit but not a wellbore tract in a horizontal, and you are unleased, nobody has to pay you revenues from that well, ever. Not even after 100% payout. A non-drillsite tract is one where the wellbore doesn’t pass through it, or within 100 feet of a tract boundary, or it does pass through but doesn’t have at least one perforation–take point–in it.