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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on August 19, 2009 at 3:38

eastex2000. There is no such animal as "the going rate" at this point in the play. The only offers that might be characterized as "gong rate" or "blanket" offers for a general area are "opening" offers. The lowest. Operators do make a wide variety of offers based on their proprietary plans for development. You have a substantial mineral estate in a good area of the play. Your acreage is in a Chesapeake drilling unit that is a combination of Sections 29 & 30. I suggest that you sit tight and wait for them to approach you. In the meantime decide what lease language is important to you and start tracking the development activity in your township and 14N -16W. When Chesapeake spuds a well in your section would be the time to get serious about negotiating a lease.

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