I have received an offer to lease in this section from TodCo, They are not disclosing the name of their client. They are offering $1000 acre & 3/16ths or $750 acre & 1/5 royalty. I see that a number of leases have been filed over the last year by Newfield. I would like to know if anyone else has received an offer here and what terms?
I have not received an offer but did check adjacent pooling actions. On 5/26/16 Newfield received approval for Sec 27, Twp. 6N, Rge. 4W spacing of 640 & possible bonus royalty elections: $1,000 & 1/8, $800 & 3/16, $400 & 1/5 or zero & 1/4. On 2/11/16 Eagle Exploration received approval for Sec 1, Twp. 5N, Rge. 6W, again a 640 at $1,000 & 3/16, $750 & 1/5 or zero and 1/4.
Ben Gunter wrote:
In 15-6N-4W my cousins and I recently received verbal offers of $1,500/acre with 3/16, $1,200 with 1/5 and no bonus with 1/4. We have not yet accepted. You might try telling your contact that you've checked around and $1,850/acre seems like a fair offer. Then see what they counteroffer.
Great idea, thanks so much
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