Has anyone received any offers to drill for natural gas/minerals? We received an offer to drill on 80 acres with a bonus of $1500/acre and 25% royalty for three years. We currently receive royalty payments from other wells drilled on contiguous land that we own next to the 80 acres. So there are producing wells in the area, but we have not signed any new leases in 8 years and the terms back then were much lower.
Any info would be much appreciated.
The 25% royalty is good. Bonus is probably in line with the prices of today. Just don’t sign without an experienced O/G attorney drafting a no deduct lease.
What area of Bienville Parish is this?
There are three horizons being developed in Bienville. If it is Haynesville Shale then generally 16N-9W and 15N-9W. If east from there it could be XTO drilling Gray Sand. If east and north it could be Tanos drilling Hosston. Hopefully Pat will help us out with a s-t-r location.