Posted by Andy Martin on November 07, 2015 at 16:46:48 from (209.213.149.120):
In Reply to: Ketstone Pipe Line posted by 37Chief on November 06, 2015 at 10:18:09:
Tractor Vet has it right (as usual), here in Oklahoma I got a little more than my neighbors but only had one well drilled out of three leases. That well was drilled by greenhorns and it didn't make much, still dribbling every month, though. I held out on my other two leases and got double what the first offer was (not ND prices) but I'm glad I leased because three years expired and they took the two year renewal in January this year on one. The other is due January 16, and with oil prices I'm not expecting them to extend it, so I may have had all I'll get until and if oil comes back at least to $60/BBL. A holdout neighbor got nothing, so you can be too greedy if you don't negotiate a lease bonus payment.
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