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Oil And Gas Lease Duchesne Co. Ut

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Oil And Gas Lease Duchesne Co. Ut

Postby Binah » Tue Dec 13, 2016 4:30 pm



I own 75 acres out at the SE/4 NW/4 Section 34, 3S-4W, Duchesne Co. UT. Known as Rocky Point Project. Do you know what is happening out there as for 40 years no one has wanted to buy a lease and now I'am getting calls every day. What would a far lease be? and what is a standard % for Roylaties? Thank you, Mike
Binah
 
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Oil And Gas Lease Duchesne Co. Ut

Postby Sherwood » Tue Dec 13, 2016 7:33 pm

I really don't know much about Utah activity, but didn't want to reject your question entirely so will at least partially answer it and hope I can be of at least some help. Most of the recent activity has been concentrated in the SE part of the county. 3S-4W is not really in the middle of the play, but is to the NW by not too many miles. It's likely they are just doing "stepout" drilling(stepping out from a known productive area) to see if there's anything there. I can't be sure of this, but it looks like that's what's going on. I don't have access to who's leasing in your area, other than when the BLM(Federal Government) leases ITS minerals. Private leases would be filed in the county courthouse however so if you live nearby you could check there in the county clerk's offices and see what other companies might be leasing in your area and then contact them using information obtained from looking at the filed leases. The lease royalty(but not the bonus) would also be listed on the lease documents in the courthouse. You MIGHT be able to just call the county clerk's office and get a little info about your area that way, though they may suggest you just come in instead if they are too busy to look stuff up for you. Be nice on the phone and you may get some help. Courtesy goes a long way with some people. In GENERAL, if an area has not see much activity in years, the lessee will attempt to get a minimum royalty of say 1/8, and the longest term they think they can get away with, which is sometimes as long as ten years. In more established producing areas, the royalty would be at least 3/16, and the primary terms of the leases would likely be no longer than five years, with three years also being common. Watch out for "extension" options if you sign a lease with someone, unless you are willing to extend your lease for another term after the first one expires. Such an option(the lessee's option) can often be found within the last few paragraphs of the lease agreement. Hope this helps you out. Frederick M. "Mick" Scott CMM RPL

Timbercreek Mineral Company, LLC

[email protected]
Sherwood
 
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Oil And Gas Lease Duchesne Co. Ut

Postby dolaidh64 » Wed Dec 14, 2016 9:04 am



I own 75 acres out at the SE/4 NW/4 Section 34, 3S-4W, Duchesne Co. UT. Known as Rocky Point Project. Do you know what is happening out there as for 40 years no one has wanted to buy a lease and now I'am getting calls every day. What would a far lease be? and what is a standard % for Roylaties? Thank you, Mike
dolaidh64
 
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Joined: Wed Oct 03, 2012 3:42 pm


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