Anyone know of current leasing activity/offers in Cass County?

We own mineral interest in Cass County ( R. Kimbrough Survey) and have been recently contacted by a landman indicating he was working on behalf of Pegasi Energy.  An offer of $175/acre, 3/16 royalty for 2 yr term was made.  I see that Pegasi has had favorable results in Marion County w/ Norbord Well # 1 (just a few miles south of us) and looks like they have commissioned a new pipeline in the area too.  Anyone know of current lease offers in this area?

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Replies to This Discussion

Permalink Reply by Rebecca Lane on January 16, 2012 at 9:46pm

thank for the info.

Permalink Reply by BossierTex on January 13, 2012 at 3:00pm
Thanks for your response. I talked with Genesis Land today and asked for a cost free royalty clause, 1/4 mineral interest and and increase in the bonus amount. They did agree to add the cfrc but declined on the rest. The well drilled in 1982 was the V.E. Glass #1 in the S. Atlanta Smackover Field. The API # is 067-30371. I was able to locate all of the records on the Texas RR Comm. site. There are 2 wells permitted and being drilled west of Atlanta so I may just sit back and see what happens. Thanks again!
Permalink Reply by jffree1 on January 14, 2012 at 8:16am

Calston Exp. is drilling now on the 11-J Corp. Mimi #1, 067-30769 (11,000' V Wildcat), in the W. Donaho Survey, A-250.  They have one rig in the county at the moment.

Permalink Reply by btj on January 23, 2012 at 8:59am

I have an offer of $200/20% royalty in the Dyer survey west of atlanta.  I was told this was for a horizontal oil well.

 

 

 

Permalink Reply by BossierTex on January 23, 2012 at 12:30pm

Is the offer from Calston Exploration via Genesis Land?

Permalink Reply by SLEM on January 23, 2012 at 12:54pm

Well, I started this discussion about 10 mos ago.  After much time, we finally leased w/ Pegasi Energy thru Right of Way Land Svcs at $200/acre, 20% royalty & 3 yr term w/ a 2 yr option at $225/acre.  Despite our efforts to negotiate, they were not as willing as would have hoped.   We were told that they planned to drill to the Cotton Valley and possibly as deep as the Brown Dolomite.   We tried to add formation restrictions to our lease, but they refused.  There were several other family members involved on our deal who pushed to lease.

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