Advice on Leasing
I could use some input/advice. We recieved a letter from Pride Oil & Gas Properties Inc, on behalf of Encana Oil & Gas, wanting to lease two lots that total aprox half an acre. The offer is $5000 bonus for Primary Term/per net Acre, for 3 yrs at 25% royalties. The well has already been drilled and is waiting on Pipeline, well Serial # 240710, is this a fair offer, should I or could i possibly negotiate a little higher bonus, or stay unleased or just accept their offer. Thanks for any Help.
Harold
Harold
Views: 142
Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on -
Shirley, the maps would have come from Jay.
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Permalink Reply by J. Michael Landry on
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This sounds like a standard offer, neither higher or lower from what I've seen in the area. It's the royalty that counts.....it's the royalty that counts!!!!!!
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