Too Late to Lease

When is it too late to lease? 1.After the well is permitted? 2. After drilling has begun? 3.After well is completed? 4. Other?

Thanks

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Permalink Reply by barneyfife on September 8, 2008 at 3:01
It depends.If you and the Operator are far apart on terms, they may decide to carry your interest and see how the well turns out. If is a poor well, you might not be able to get what you were initially offered. If it as good or better than expected you might be able to name your price. If it is a dry hole, they will not be interested at any price. Of course the larger your tract or mineral interest, the better position you have.

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