Hello again, have just received a call from EOG wanting to lease 30 acres that I own about 8 miles east of Nacogdoches for $275 an acre and 3/16 royalty. My neighbors ,who border my acreage, is holding out for $450 an acre. Does anyone know what price we should be asking for? Another neighbor, (AL Johnston) was drilled by EOG a few months ago and hit a huge find with vertical drill. EOG hinted that if I don't lease with them, that they will horizontal drill from Johnson's well and attach any gas under my ground anyway. Is this possible or legal? Thanks much for any info and guidance.

Views: 1499

Replies to This Discussion

What is the difference in the pricing for Texas and Louisiana? I agree with you.... I've talked with people that are having the same problem with the lease clean-up, etc. I wondered if Nac was getting a good "play" when I found out that McDonald Drilling had leased an office here for the "landmen" to use. Of course, there are numerous rigs working and pipelines going all over this area. We'll see how it works out! Thanks much for all info.
Anyone have current bonus and royalty offers from EOG in Nac County? Also, EOG asked for confidentiality clause in our lease offer. Anyone else see this? Seems to work against mineral owners sharing info.
We have been approached on a new lease - top over - our current one expires in October. We have been offered 25% royalty but not talking bonus until we get closer to expiration. In Mora 827.
We were offered $500 and told them we were not interested so they came back to $1000 and 22.5% royalty. THis is in east nac county green pleasant survey. We only have 6 mineral acres. Have not heard of confidentiality clause. Anybody else got better offers before we take this?
You might want to check out the Oil and Gas Royalty discussion. Don't confuse lease bonus with offers to buy your minerals. Apparently, the J. Cherino Survey area is very hot.
Who are you working with? EOG? Does your 6 acres border where they have already found "oil or gas"?
Good Morning,

Still have not leased my 30 acres, but have received a letter yesterday from Athem Oil & Gas, Inc. asking about buying my mineral/royalty interests. I'm not sure what the difference is from a normal lease for a specific time. Can anyone give me any information?

Thanks for all the educational about these things.
An offer to purchase mineral rights is asking for a permanent conveyance of title to the minerals. You would receive the purchase price agreed on and you would no longer own those minerals described in the conveyance.

A lease gives the Lessee the right to produce within a specified length of time. If no production is realized, within the term specified, all mineral rights revert back to the Lessor. If there is production, within the terms of the lease, the Lessee keeps the minerals as long as there is production and pays the Lessor (you) royalties for your agreed on share of that production.
Many thanks for all the advice....still got my mineral rights! Have a fantastic day!

You should be able to get a 25% royalty and a larger bonus.  SEE an O&G Attorney before signing anything.  The royalty percentage is significantly more important than the leasing bonus, although you should be able to improve both sides of your offer.

Don't be in a hurry to sign.  Time is on your side--as the play develops around you, you will get a better view of what is there, and how much it is worth.  NEVER sign the first lease they offer you. 


© 2022   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service