Hi Angela, Shaleguy did not respond. However, I have been getting a lot of interest from the different G/O companies. The price per acre is now $3700 with a 17.5% royalty. I guess it depends if they really want your property. Where is your property located?
My property is in Harrison county which has been getting a lot of interest lately. One note of interest, I discovered that a company does not require 640 acres to drill. O/G companies have been known to drill on plats as little as 40+ acres. Ideally you want 100% of your property on a drilling unit which is the smallest.
O/G want big units since it cost them less to drill more wells. If the area is loaded with minerals a company will be interested in drilling. This makes a case for signing with a smaller O/G company. However, there are risks with smaller companies as well.
william
Jul 28, 2011
william
My property is in Harrison county which has been getting a lot of interest lately. One note of interest, I discovered that a company does not require 640 acres to drill. O/G companies have been known to drill on plats as little as 40+ acres. Ideally you want 100% of your property on a drilling unit which is the smallest.
O/G want big units since it cost them less to drill more wells. If the area is loaded with minerals a company will be interested in drilling. This makes a case for signing with a smaller O/G company. However, there are risks with smaller companies as well.
Jul 28, 2011
dan l
Mar 25, 2014