Can anyone help me with information regarding the going rates for a Gas well pad. My kids have inherited 38 acres in Red River on the Bracky Branch field Section 25 Township 14 North, Range 10. There is a pad on the North East corner of the land bordering other sections, the 5 year lease is up for renewal. Tellurian want to renew the lease. The size of land they want is 5.75 acres, this is slightly larger than previous. Of course they want access and the ability to tie in to a gas pipe. Thanks for any help you can give.
If they own the mineral rights as well as land..it good to lease. But if they only own the 38 acres land then a five acre chunk plus a road and pipe lines at just about any price not worth the $$$.
I got $5000 acre plus the damages..in 2011. The oil coompany left two huge pits open for 7 years. the road cut all the way across my land and was a big hazard.
The land will never be private or the same again. Also a well site limits land use options.
So..be careful and slow to lease.
Thank you for your input. It has been a good starting point in negotiations.
You should consult a good oil & gas lawyer before any document is signed. As Krkyoldhag notes, you want a clause guaranteeing the restoration of the property.
Good point Martin. Thanks