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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Permalink Reply by Two Dogs, Pirate on Did the offer come in the mail or by phone or personal contact?
Permalink 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.
Permalink Reply by Paul Butler on 10-4
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