Lease offer in J Hamilton Survey
Friends - after many years of being unleased, I received a lease offer last week for our modest 30 acres in north Cherokee, J. Hamilton survey A-23. A little research on your site and Tx RRC has uncovered some activity in the area and what appears to be impressive results about 1 mile away with 07331537 Wilkinson McElroy - (same operator). Any thoughts on what the counter offer should be? Offer was $200/acre 3/16 3 year + 2 year option. Or should I just hold out? This was my dad's favorite place...just want to do right by him as best as possible. Many thanks.
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Replies to This Discussion
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Oil & Gas ProPermalink Reply by Two Dogs, Pirate on -
Did the offer come in the mail or by phone or personal contact?
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Permalink Reply by Cuazy on
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Thanks for the response. I received a call and then email of the proposed lease. Any advice is appreciate. Thank you
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Oil & Gas ProPermalink Reply by Paul Butler on -
In the next survey over, A recently completed well came in "Race Horse" style.
See G-1 and G-5 attached hereto.
11 million cubic feet per day and 500 barrels+ of condensate.
That's a ridiculously low offer, suggesting bad faith.
Tell them to have their Dad call with real money.
Here is the RRC map viewer link:http://wwwgisp.rrc.texas.gov/GISViewer2/
Good luck.
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Thank you very much for the reply..."have their dad call with a real offer" made me laugh uncontrollably! I like your style.
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Oil & Gas ProPermalink Reply by Paul Butler on -
10-4
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