Replies to This Discussion

landownerPermalink Reply by James A.Veuleman on April 25, 2010 at 14:47

What section number in T8N R10W?
Buddy Veuleman

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on April 25, 2010 at 15:13

Section 7

Permalink Reply by Valhalla on April 26, 2010 at 11:40

Some of us remain unleased in section 8 (our property is 8-8-10). What's your advice?

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on April 26, 2010 at 12:08

Patience. The spread of the play is inhibited by low gas prices and operators with existing leasehold that must be drilled. There is only one HA drilling unit in township 8N - 10W currently. The first sign of development interest will be unit applications. Then the first well permits. I'd expect to see both of those events later this year probably in the third or fourth quarter.

Permalink Reply by J P Sanders on May 23, 2010 at 17:48

My information is that drilling is occuring in 8-10-10 where relative owns property. May want to negotiate a lease, but do not live in the area and not familiar with leasing market rates. Any help about going royalty rates and bonus money would be appreciated. Thanks all.

Oil & Gas ProPermalink Reply by Les Bamburg on May 23, 2010 at 18:33

JP, you should be able to get a 25% royalty rate. I will let others comment on bonus levels.

Permalink Reply by J P Sanders on May 24, 2010 at 1:35

Thanks Les.