Hi inherited mineral rights in Sec 14-8n-8w in Grady county Ok, for a 3 year lease with a 20% ORRI does this seem like the going rate ?
Are you sure that you have an ORRI? Usually leases with a 20% royalty are regular royalty leases and not an Overriding Royalty Interest carved out of the working interest. ORRI’s are typically much smaller. Do you have a copy of the original lease? Is this an old lease with current production or a fairly recent lease? I do not see any active wells in Grady 14-8N-8W so the lease may be expired if it is old. I do see some new leasing in that section within the last 36 months.