Leasing prices around Converse?

My mother has some interest in some family land down around Converse and they have been offered $4000 per acre and 25% by Chesapeake...sounds low to me, but does anyone know if this sounds about right?

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landownerPermalink Reply by Henry on September 25, 2011 at 8:34

James,

I have no idea about  prices.  But I strongly urge you to read the many discussions on this site about how CHK pays its lessors lower prices for gas.  You should ensure your mother gets help from a qualified O&G attorney who can provide her with an Exhibit A to any lease.  This Exhibit A should contain language that will ensure your mother receives the fair price and that CHK cannot take a gazillion deductions that ultimately reduce her gas price by up to $1.00.


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on September 25, 2011 at 9:52
james, pay heed to Henry's advise.  As to the bonus offer, it's the highest I've run across in a couple of months.  Chesapeake likely has other leases in your section and has plans to drill a well before they expire.  Get you beneficial and protective lease language first, then negotiate bonus.  If you can get the language you need, I'd say $4K is a very good offer at this time.

Oil & Gas ProPermalink Reply by HBP on September 25, 2011 at 15:19

James,

Do you mind posting your Section, Township and Range.  Or a general area near Coushatta.  There may be some similarly situated folks that would like to know what offers are floating around lately.

Permalink Reply by James on September 25, 2011 at 15:40

I MADE A MISTAKE HERE...THE LAND IS OUTSIDE CONVERSE, NOT COUSHATTA!

 

Sorry for the confusion, I will try to get more info!

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