Boyce Pate 16-1, 19N-13W sec 16 New Well Feb.17 2009

Boyce Pate 16-1,New Well as stated above. Southern Star leased. They say it'll have at least 3ea on this site just south of Cypress Baptist Church on Palmetto Rd. I live on 3/4 acre for the past 15yr. and haven't been approached for a lease since last Aug. when they offered $175 and 3/16. My neighbors, all but about 6 of us have been leased at $750 and 25% and $5000 right of way. I'm confessed why they haven't been more aggressive on leaseing the rest of us. I've heard they perfer 100% lease before drilling. Is this an advantage for us unleased people or?

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Replies to This Discussion

Permalink Reply by debbie on February 18, 2009 at 10:53
I have 2.5 acres in this section and have not signed a lease. Southern Star contacted me about leasing and a right a way. I have not heard back from them. I am quick to admit that I am ignorant of all the in's and out's. I do not know how accurate this is, but someone told me that like to get at least 90%. If this is correct, what happens to those of us who have not signed a lease?
Permalink Reply by Glenn on February 19, 2009 at 15:07
Actualy they are a small operation and do not have the pocketbook to compete with the big guys.
Permalink Reply by A.L. Smith on June 8, 2009 at 8:33
We have over 200 acres in Sec. 5 and Southern Star declined to renew the lease.
Permalink Reply by Glenn on July 2, 2010 at 5:08
Has anybody else contacted you about leasing?
Permalink Reply by Count of Monte Cristo on July 5, 2010 at 6:34
Southern Star went bankrupt earlier this spring....

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