Question on Lease option renegotion
The company we have our lease with has requested a drop in the price per acre by $500 and extend the terms from 3 years to 5 years. I want to know if anyone else has had to renegotiate the option to extend.
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Replies to This Discussion
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Permalink Reply by kittycatmama on
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It sounds positive that they want to keep your lease. What parish are you in
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Permalink Reply by iwana nipper on
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See if they will pay a bonus for doing this change, won't hurt to ask.
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Permalink Reply by Joe Aldridge on
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Jennifer,
They currently have 2 drilling permits that were taken earlier this month. Both in St. Helena. Both are Denkmann wells in Sec 9,T1S,R6E. Evidently they are drilling from a pad.
What was your original lease for on a per acre basis?
Personally, I might lower the per acre amount but I would stick with the 3 years. I'm an old curmudgeon and want something drilled sooner than later.
Good Luck and Happy New Year
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