Royalty Owners Neighbors

Woodcrest has come by with a sign up for 90 days with no bonus.  Kastner has also come by with a bonus of 3500 per acre and 25% when drilling starts.  Drilling is supposed to start May 1.

We also received a package on my door from Woodcrest, asking to extend our Oil and Gas Lease for an additional 90 days for no additional bonus. Our lease expires on April 29 and we have not repsonded. Based upon your information, we apparently should wait and there will be new bonus offers forthcoming. Does our Association have an official stand on how we should respond. Seems like we have a renewed opportunity to capture the entire neighborhood this time around as opposed to last time where there were many splinter leases.

You can gets lots of information on what is going on from the railroad commision website.

This link http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPublicQuery=Y&name=NEYLAND&univDocNo=486566765

Has several documents related to the currently permitted well. The rules say that you have sign up people who are within 330 feet of the diagonal. The first attached document showing a plat shows who is and who is not leased. One of the documents is labelled unleased and I counted 292 unleased properties. If at all possible it would be really nice to negotiate this as a group. They are currently trying to get the last 19 people to sign up so that can proceed with this diagonal. The names of those people is on the document called service list.

Update. We had to wait 6 months but we finally were contacted by Kastner. They say to call and we will be elligible for a signing bonus and royalty payments, but they didn't say how much. Last we read on this website, $3500/acre bonus is the best we have been offered, and 25% royalty. Looking at the 1st attachment on the website 

http://webapps.rrc.state.tx.us/DP/drillDownQueryAction.do?fromPublicQuery=Y&name=NEYLAND&univDocNo=486566765

it seems that there are now only about 75 holdouts. Our name is not even on that list so we wonder if a different drilling line pertains to our house.