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?
Views: 80
Replies to This Discussion
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Permalink Reply by debbie on
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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?
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Permalink Reply by Glenn on
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Actualy they are a small operation and do not have the pocketbook to compete with the big guys.
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Permalink Reply by A.L. Smith on
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We have over 200 acres in Sec. 5 and Southern Star declined to renew the lease.
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Permalink Reply by Count of Monte Cristo on
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Southern Star went bankrupt earlier this spring....
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