Picked up a petro hawk check for a family member. $5000.00 per acre for 80 + acres 15n 12w

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r.w.,

Would you care to elaborate on any other details of the lease.
vanilla type lease similar to what we signed on other property @ 200.00 per acre 3 years ago. this lease was overlooked when 100.00 per acre extension checks went out. they did choose to pass on aprox. 100 adjoining acres that lies across a section line. This property is now unleased.
So I assume that CHK is filling in a section for a well, which is why they were willing to pay the high $$, but weren't willing to pay it in the adjacent section.
He said it was Petrohawk, not Chesapeake.
Could you give the section please.
Don't have a lease map. What is the general proximity of the lease? When finalized?
What was the royalty?
It is actually in 15n 11w sec 7&8. the royalty was 25%. They unintentionally let this lapse. They intentionally allowed an adjoining 100 acre tract in sec. 17 lapse when they could have renewed them for 100.00 per acre. The reason was that they wouldn't be able to it before the lease extension lapsed. This property was expropriated by the rrwc and we were granted minerals in perpetuity. It is at the southern tip of the Elm Grove field. Finalized last week. Paid with check not draft.
No surface?

Pugh clause?


THANKS
We dont own any surface. All land was expropriated leaving us with perpetual minerals.
Thay have to work out surface with the state. No depth restrictions. Pugh clause only covered release of minerals not included in producing unit. This was a big bird in the hand that puts the rest of it one step closer to production.
Sounds like their land department dropped the ball. They probally thought is was part of the states water bottom, stupid, and expensive mistake.
K.c.s. Had it leased and forgot it when the extension checks went out. We have a few different family tracts in that area that have similar acreage. We own no surface. Easy to confuse as this was half interest in a 163 acre undivided tract. They extended the other half for 100 per acre.

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