I just heard thar Whiting Petroleum is trying to lease all land in Township 23 N which is not HBP. I est about 12,000 acres-15,000 not HBP. I heard they are paying $350/acre. Did not find out royalty terms. Will do so and post here. Whiting is a good company out of Denver.Stock symbol is WLL.
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$400 for 3 yrs, 450 for 2yr extension, @25% thru cotton valley, 20% below, with lots of surface negotiations. T20 R4W lincoln.
Aubry, I have been sitting on the side lines for some time now, but I would like to add that Texla Oil Company, LLC. out of Metarie, La. is trying to lease in township 19N and 20N, Range 8W. They are attempting to offer an 18 month siesmagraph lease with an option to lease for 3 years on the back $25/$150. Also no disscussion on royalty, they backed off when we told we will not enter into any agreements tied.
IMO that your decision is a smart one. Doesn't sound as if you have anything to talk about with them. Just my opinion, but decision is yours to make. I would not even talk to them if it were my land.
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