my family owns (will have acquired in the next month) 23 acres in 9 T11W R11W. Have had prior talks various land men. We have been informed via letter that they are planning on drilling in our section. We have yet to finalize leasing contracts since we were acquiring some other family members land. I was wondering since they are planning on drilling should that affect (negatively or positively) the amount of lease bonus and/or royalties?

Also is there a way or website to find out what other land owners have leased their land and the royalties they signed with companies? Also which companies have the rights to the land in my area.

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Replies to This Discussion

What company is going to drill your section?
No company has "the rights to your land". Chesapeake holds the drilling unit order for your section but you are free to negotiate with any interested company and enter a lease with the one that offers the best terms. Chesapeake as the operator of the unit will be required under LA. Mineral Code Forced Pooling provisions to pay you your proportional interest based on the terms of that lease. Early offers are rarely the "best" offers. I advise my clients that negotiating after the well has begun drilling is usually in the mineral owners favor. Lease terms are the first priority with a quarter royalty, no cost royalty and vertical and horizontal Pugh clauses being the most important, IMO. Once you get an agreement for those clauses address bonus. I would think that $5K would be the least that is acceptable. How much more than that you request is up to you just realize that if you get too far out of the ball park, you likely will not get much consideration for 23 acres and Chesapeake can and does drill with more acres than that unleased in a unit. I suggest that you use the services of an experienced O&G attorney. Good Luck.
Section 9 is part of the lignite mine. CHK probably has 160 acres under the Nabors property. Map shows 320 acres that belong to Martin Timber (Indigo). Running DeSoto records under STR shows PHK leases taken recently but nothing else as for leasing.
TD, don't you think that CHK has the Indigo acreage under lease also. Has this section been mined yet?
The acres that we own was mined for lignite in the late 80's and was reclaimed after that. We got checks at that time. Thanks for all the info you are so knowledgeable!-as soon as the purchase is recorded we are hoping to enter into a lease.
They haven't released anything and the lignite landwoman told me that there was a big dump truck parked on the tract just to the South of what I am thinking is Shayne's property. It is a complicated area and to make a call on who owns what would take extensive research as far as the Martin tracts go. Martin may not have minerals. The Dolet Claim takes in more than half of the section. There were wells there before the mine and the mine is keeping prescription from running.
what does prescription mean? i have tried to find a def. for this in terms of gas and have come up empty
Skip's post was the best you will ever find regarding leasing. DO NOT LEASE until you (or your attorney) understand every single word and phrase of his post.

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