Cindy, sorry but I don't know anything about Upshur County, but I can tell you $150.00 and 1/6 is as low as I have heard of in a long time. That is just too low. I suggest you go to the Upshur site on the main page under groups or to East Texas group. Good luck!!
From my experience, Petrohawk has virtually stopped leasing altogether. They offered $14,500 in T15N,R11W,Sections 32 & 33 and a week later rescinded the offer. This was about three weeks ago. The 28 acres is still unleased and it is surrounded by horizontal Haynesville wells that are drilling and one horizontal Cotton Valley that has been drilled and is awaiting completion. Maybe things will pick up if Questar and Petrohawk announce wells with big IP's. Right now, I kinda like having it unleased.....Maybe I'll drill with them and keep 100%.
Reply by wayne morgan on September 23, 2008 at 10:42pm
We are in section 19 (that is stewart rd just off of 614 or "red point rd") and received 15,000 an acre. and1/4 royalties from Chesapeake. Don't take a bank draft , insist on a check!
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More