landowner

New Bossier Parish Offers

I have been contacted by Encana with a lease offer in South Bossier off Sligo (Sec 20, T17N-R12W) for $500, 20% and 3yrs.  I haven't seen the legal paperwork yet but imagine subsurface only as it is only an acre that I am on.  They are looking at getting the entire neighborhood and I am just looking to see if anyone else has any recent offers to compare to.  It is much better than the $10 the previous owners accepted but which Encana actually allowed to expire last year. 

-Pat

Views: 1041

▶ Reply to This

Replies to This Discussion


Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on May 13, 2013 at 15:40

The wording "Ten Dollars and Other Valuable Considerations" is legal boiler plate.  It is not the bonus paid to the lessor.  The $500 bonus offer is pretty standard at this time.  The royalty and the other lease terms are what require further negotiation. 

Permalink Reply by Bar ISW on May 14, 2013 at 2:21

I too was contacted by Encana with a lease offer in S. Bossier behind Lucky estates as I have 7 acres  (Sec 20, T17N, R12W) with the same $500, 20% & 3 Yrs and a deadline to decide by the end of this week. Talked to neighborsin Lucky Estates and they had initially signed 3 yrs ago and then re-newed this fall at $2000 an acre? Havent' seen the paperwork but definitely want a "No Drilling Clause". Babs


landownerPermalink Reply by Bobi Carr ("parker") on May 15, 2013 at 14:49

Sounds like a reasonable price considering that no one else seems to be interested in the area.  I have 285 acres in the area and leased last year.  I wanted more but no one else was interested in paying other than them, I felt like it was a GREAT offer compared to ZERO.  Gas prices are still low and don't look to be much higher for the foreseeable future.  I doubt that any other company will lease at those prices.  Sometimes SOMETHING is better than NOTHING.


landownerPermalink Reply by Bobi Carr ("parker") on May 15, 2013 at 14:58

Let's hope that prices actually get to $6.00 by 2020.  

http://knoema.com/ncszerf

RSS

© 2026   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service