Current Lease Bonuses

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Permalink Reply by Michael Richardson on February 7, 2010 at 9:44pm

Now for another (dumb) question for anyone. How does one verify if they are being paid by all applicable wells? For instance, we own a small % of the rights on the southern 1/2 of S33 T13N R16W and possibly the northern 1/2 of the same section, but that is being debated. There are 3 active wells in this section. We currently receive royalties from two (154093 & 179849), but not from the third (236859). I am trying to determine if I should be getting any royalties from this well. There is also a 4th well being drilled (240506) and I am trying to determine the same thing for this well. The rights were inherited so I am trying to understand just what we have and what we are entitled to.

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Permalink Reply by Jester on February 9, 2010 at 11:56am

I own minerals in Sec. 6, T15N, R15W in Caddo and have checked Sonris but have found no activity. Has anyone been aproached in this area? We had an offer of $5000 and 25% for three years from Chesapeake back in September. What should I be looking to get now?

Thanks everyone!

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Permalink Reply by Henry on February 9, 2010 at 1:37pm

Jester,
I cannot tell you what you should get. But be aware that there are good wells in your area:
#238539, 24-15-16, Chesapeake, 11,900 mcfe/day, 20/64 choke, CP 6240#
#238847, 13-15-16, Chesapeake, 10,700 mcfe/day, 20/64 choke, CP 5920#
#239581, 24-16-16, Chesapeake, 13,700 mcfe/day, 22/64 choke, CP 5800#
All of these are very good (not great) wells, and within 3 miles of your section. Good luck.

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Permalink Reply by Horseshoe Girl - a1 on February 11, 2010 at 11:48am

Sir, is that $750 per acre just for your % interest owned, or for the whole. Say if you owned 5% mineral interest in the property, and the offer on the table was 12K/acre, you would get $600/acre for your proportionate share. If that is the offer for 100%, then ask the leasing company agent what tailgate he/she just fell off of. Get any offer in writing and make certain that the offer is specific regarding whole or fractional ownership. I personally wouldn't take less than 8K/acre, and I think its possible to negotiate up to 10-12K in some parts of DeSoto, especially for a 200 acre tract. Don't forget to have a pugh clause added to your lease, so you can lease deep rights later. Good luck!

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Permalink Reply by parker on February 11, 2010 at 3:40pm

With a 200 acre tract you ought to be able to lease just the haynesville and save deep rights and shallow rights.

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Permalink Reply by Michael Richardson on February 14, 2010 at 10:14am

He gave each of the owners the same $750 offer based on net mineral acres. The tract is 194 acres, of which we own 5% or 9.7 net mineral acres. Therefore his offer to us was $7275 & 20%. The other owners received similar offers based on their % ownership. But the point is moot because as it turns out, the current lease will not be expiring after all. There is a well being drilled in 33-13-16 that has a PBH in 4-12-16. Apparently the landman did not realize this, but it is my understanding that this well will keep the lease in effect.

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