Replies to This Discussion

Permalink Reply by Dolores Chobert on July 11, 2010 at 8:48am

We're supposed to start getting royalties the end of this month. Our lease is for 5 years. I was just wondering if they renew your lease , is it for what they're offering now . I have to check my lease to see what it says.

Permalink Reply by Wm. Robert Blackwell on July 11, 2010 at 8:19am

If you're getting royalties, then your lease will auto renew until they stop paying you royalties.

Permalink Reply by Dolores Chobert on July 11, 2010 at 8:49am

Renew at what they're paying now , or what you got when you first signed the lease. Because they're offering a lot more now.

Permalink Reply by Wm. Robert Blackwell on July 11, 2010 at 8:57am

Renew as in you'll be getting royalty payments from an active well(s). The per acre bonus was a one time thing, you wont be getting a lump sum of money any more from the gas company.

Permalink Reply by Dolores Chobert on July 11, 2010 at 9:27am

ok . thanks

Permalink Reply by Lynn Wigglesworth on July 11, 2010 at 9:47am

As long as you are getting royalties, the lease is in effect...it's not 'renewed', so you don't get any more bonus money.

Permalink Reply by Dolores Chobert on July 11, 2010 at 10:09am

thanks

Permalink Reply by Wm. Robert Blackwell on July 11, 2010 at 10:12am

how many acres do you have leased? I think you'll be happy when the royalties start coming in.

Permalink Reply by Dolores Chobert on July 12, 2010 at 1:32am

24 acres. Its only for the last 5 days of May though. It didn't go to market til the end of may. I have no idea what the check will be like. Theres 2 involved. Any ideas?

Permalink Reply by Wm. Robert Blackwell on July 12, 2010 at 1:37am

I bet just for those 5 days you're looking at 700-1000

Permalink Reply by Dolores Chobert on July 12, 2010 at 2:07am

that would be nice. I hope so.Thanks