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Started this discussion. Last reply by Greedy Landowner Aug 1, 2008.
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landownerrob said…
We did not have an extension clause but if you do have one in your current lease I would call and ask if the company is interested in extending. All companies know if your lease is going to expire. They have a red flag system so they know 6 months out when leases are going to expire.
our lease did expire July 19, 2008. We have been approached by a number of companies to lease our 255 acres. Listening to other people comment on who is drilling in our area and who wants to start drilling in our area is a good way to establish good solid leads. If you read our chats in the past you can find out alot of very good information. Just google the company and start from there. That is what I did. I prefer to talk on the phone first then email our information of our land. You get a better feel for the company that way. Comstock Resources is starting to drill in the Sugar Creek Field which is mostly in Claiborne Parish and is drilling very successfull in the Terryville Field which is in Lincoln Parish to the right of our land. Continental Resources is leasing in our area for $1,250 per acre with 25% Royalty but they want a 5 year deal. Long time for a lease. I heard Sklarco is offering $1,300 per acre 25% Royalty.
We will sign with the best company, who is dedicated to drilling on our land, and with the best terms of the lease. We know what we want in the lease and what we don't want in the lease. It all comes down to who really wants our land.
Jaybird